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US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, AUD/USD
2021-06-18 16:40:00
EUR/USD Faces First Oversold RSI Reading Since February 2020
2021-06-18 14:00:00
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Crude Oil Price Forecast: Bullish Scenario Remains Intact amid Strengthening Demand
2021-06-19 15:00:00
How Does Fed's Accelerated Timeline Impact the US Dollar? - Market Minutes
2021-06-17 18:30:00
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Wall Street IG Client Sentiment: Our data shows traders are now at their most net-long Wall Street since Oct 30 when Wall Street traded near 26,509.50.
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Gold Price Forecast – Big Down Week Has XAU Nearing Trend Test
2021-06-18 20:00:00
Gold Prices May Bounce as Markets Digest Fed Policy Pivot
2021-06-18 07:03:00
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GBP/USD IG Client Sentiment: Our data shows traders are now at their most net-long GBP/USD since Apr 12 when GBP/USD traded near 1.37.
2021-06-18 18:23:00
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2021-06-18 16:40:00
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Japanese Yen Forecast: Bank of Japan Extends Easy Policy, USD/JPY Unfazed
2021-06-18 04:00:00
USD/JPY Fails at Resistance and Pivots Lower, but the Underlying Trend Remains Bullish
2021-06-17 21:00:00
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Gold Rallies but Stays Under Key Level

Gold Rallies but Stays Under Key Level

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_gold_body_gold.png, Gold Rallies but Stays Under Key Level

Prepared by Jamie Saettele, CMT

A drop to a new low remains favored despite the rally through Elliott channel resistance. The key level is the 11/21 low (price is in a bearish impulse below there). Keep in mind the potential for an extended decline (3rd of 3rd wave). Levels of interest would be former resistance from 2010 at 1445 and the 2011 low at 1320. The 200 day average reinforces resistance at Friday’s high as well.

Bottom Line – short against 1675, target new lows

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

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