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DailyFX Home / Forex Technical Analysis / Daily Technical Analysis

DailyFX Technical Focus: 11/17/2015 (Gold Price)

By , Sr. Technical Strategist

17 November 2015 18:22 GMT

  • Gold might bottom the last week of the year
  • Near term levels of interest are 1050 and 1096-1104
  • USD daily charts
  • For more analysis and trade setups, visit SB Trade Desk.

Elliott Wave Bias Table

Symbol S3 S2 S1 R1 R2 R3 Chart Links

EUR/USD Extends Drop after Testing Summer Low as Resistance


EUR/USD Extends Drop after Testing Summer Low as Resistance

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-Recent comments remain valid. “The USDOLLAR index just traded to its best levels since 1 day after the April top yet EUR/USD is above the summer lows (barely). The non-confirmation is just that…a non-confirmation but EURUSD itself has broken under an important downtrend line.”

-Risk is still lower while under the summer lows (1.0807/47), which should provide resistance if another leg lower in EUR/USD is imminent.

-SSI is positive (although just 1.26 as of late Tuesday…so close to another flip), which is considered bearish.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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