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 Download
EUR/USD
Bullish
GBP/USD
Bearish
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
Bearish
Oil - US Crude
Mixed
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
Bitcoin
Bullish
More View more
Real Time News
  • Traders should know how to confidently approach, enter and exit both Bull or Bear markets. Need some insight into it? Get it from @nickcawley1 here: https://t.co/GhvvFrB3gz https://t.co/70dQeBCONm
  • The #ASX 200 stock index hit record highs this year but those days seem unlikely to return anytime soon as even equity buckles before the #coronavirus outbreak. Get your market update from @DavidCottleFX here: https://t.co/HlZhPBsZ6X https://t.co/Rvfnt44wTm
  • Housing data may be more heavily scrutinized in 2020 as softer global growth places more stress on the consumer to keep the American economy afloat. Get your market update from @ZabelinDimitri here: https://t.co/ms4EGbJ1WF https://t.co/EOwX7DLGZZ
  • What are the truths and lies of #forex trading regardless of your #tradingstyle here: https://t.co/uF75VPzstr https://t.co/k1USOdlHiR
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/6l6t02a61R
  • The $NZD may fall versus the Australian Dollar on a more-dovish #RBNZ down the road. “Risk-neutral” AUD/NZD has been maintaining composure as stocks sell off on coronavirus fears. Get your NZD market update from @ddubrovskyFX here: https://t.co/3OtpuHRHBv https://t.co/wYiiLdtmur
  • #Copper prices are rapidly approaching a 17-year uptrend as concern about the #coronavirus threatens to thwart global stabilization and demand for the growth-oriented commodity. Get your market update from @ZabelinDimitri here:https://t.co/2RbfvVZOxX https://t.co/m3EJI8sksF
  • My trading video for the weekend: 'S&P 500, Yen, Gold - A Lot Rides On Weekend Appeals and Monday's Open' https://www.dailyfx.com/forex/video/daily_news_report/2020/02/29/SP-500-Yen-Gold---A-Lot-Rides-On-Weekend-Appeals-and-Mondays-Open.html?ref-author=Kicklighter&QPID=917719&CHID=9
  • The $USD technical outlook is still pointing higher against the Malaysian Ringgit and Philippine Peso following near-term weakness. What is the road ahead for USD/MYR and USD/PHP? Find out from @ddubrovskyFX here: https://t.co/IQUjFt8CVE https://t.co/8rSTyzBf9U
  • That is....that is not good. I am frankly shocked they let a number like that print https://t.co/HauBmn8w3X
Gold Morning High Critical to Near Term Trend

Gold Morning High Critical to Near Term Trend

2011-12-21 18:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

300 Minute Bars

eliottWaves_gold_body_gold.png, Gold Morning High Critical to Near Term Trend

Prepared by Jamie Saettele, CMT

I wrote yesterday that “the rally has exceeded the Elliott channel so focus is now on the mentioned 1620/40. The 38.2% retracement is in the middle of this zone at 1635. Expectations remain for a test of the September low at 1532 with price finding a top in the 1620/40 zone.” Gold reached 1642 this morning before reversing and risk on shorts can be moved to that level. Exceeding 1642 would shift focus to 1678 and 1700.

Other TA Articles

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

DISCLOSURES

News & Analysis at your fingertips.