We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • Overnight index swaps are pricing in an 34.2% probability of a RBNZ rate cut during its next meeting on 02/12/2020 #NZD
  • How can you be a part-time trade? Get your tips on workflow and strategy here with@WVenketas: https://t.co/b8ywNOOgx9 #tradingstyle https://t.co/wk8PAE4uNv
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/4:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/29mp0J5bys
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Gold: -0.17% Silver: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5vlrajdMNh
  • Over the past 30 days, #NZD, #SEK and the #AUD have been the best performing G10 currencies vs. USD with +1.87%, 1.70% and 1.03% total returns.
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇪🇺EUR: 0.07% 🇨🇦CAD: 0.03% 🇯🇵JPY: -0.03% 🇳🇿NZD: -0.05% 🇦🇺AUD: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qf00nTj6Hd
  • LIVE NOW: Join Senior Strategist @IlyaSpivak as he discusses the outlook for the financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/889679267?CHID=9&QPID=917720
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.80%, while traders in France 40 are at opposite extremes with 87.38%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ajip0jMeD9
  • LIVE IN 30 MIN: Join Senior Strategist @IlyaSpivak as he discusses the outlook for the financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/889679267?CHID=9&QPID=917720
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/3:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/EhPTrzvjdH
Gold Bounces from Trendline Support

Gold Bounces from Trendline Support

2011-05-06 21:52:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

eliottWaves_gold_2_body_gold.png, Gold Bounces from Trendline Support

Prepared by Jamie Saettele, CMT

Gold’s decline is deep enough to suggest that a more important top is in place. Still, two way volatility is expected following such an extended move. Currently bouncing from a trendline, expect resistance from former daily lows at 1505.50 and 1540.30.

Support/Resistance Index (M,W,D) – 0, (3), (3)

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market.  Send requests to receive his reports via email to jsaettele@dailyfx.com.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.