MacNeil Curry

MacNeil Curry, chief North American technical strategist at Barclays Capital told me that he believes gold remains within a secular bull trend. He sees the market as having been range-bound for the past six months. By year-end or first quarter 2010, Curry and his team at Barclays are targeting a move to the $1,100 zone in gold.

McNeil Curry, technical strategist at Barclays Capital, agreed that the peso would head lower in the near term, probably to 44.5, but he expected it to bounce back later this year.

"The dollar/peso continues to correct higher from its March lows, but ultimately this is a counter trend and a temporary correction," he said.

"If we get above $1.9550, the impetus is for us to go above $2, and the month of December has traditionally been very positive for cable (sterling/dollar)," said Macneil Curry, technical strategist at Barclays Capital.

"But if you look at the price action on the charts from 1992, there is a real risk of a breakdown on a move above $2."

He said there was only minor resistance at $1.9835 between the $1.9550 level and $2.

"You have got potentially further consolidation in the first quarter, but beyond that look for further upside," said MacNeil Curry, technical analyst at Barclays Capital.

Weekly chart pattern suggested that the choppy price range would give way to higher prices in the medium term, he added.