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Euro Week Ahead Forecast: EUR/USD Outlook Bullish, EUR/GBP Bearish
2021-01-24 04:00:00
Weekly US Dollar Fundamental Forecast: All Eyes on January Fed Meeting
2021-01-23 18:00:00
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Markets Week Ahead: Nasdaq 100, US Dollar, Crude Oil, Fed, IMF, Tech Earnings
2021-01-24 16:00:00
Gold and Crude Oil Prices Watching the US Dollar as the Weekend Nears
2021-01-22 06:00:00
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Dow, VIX, Tesla and Leverage Reflect Greater Risk to the Relentless Bull Market
2021-01-25 00:00:00
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2021-01-24 13:00:00
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Gold Price Tracks Weakness in US Treasury Yields Ahead of Fed Meeting
2021-01-23 22:00:00
Gold Price Outlook: Gold Weekly Reversal- Bear Market Rally or More?
2021-01-22 20:00:00
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British Pound Technical Outlook: GBP/USD, EUR/GBP Wedge Patterns in Focus
2021-01-24 01:00:00
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2021-01-23 18:00:00
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Weekly US Dollar Fundamental Forecast: All Eyes on January Fed Meeting
2021-01-23 18:00:00
USD/JPY Outlook: Yen Falters Today but Faces Stout Topside Resistance
2021-01-22 13:00:00
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Gold on Track for Best Month Since August 2011

Gold on Track for Best Month Since August 2011

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Gold on Track for Best Month Since August 2011

Prepared by Jamie Saettele, CMT

Gold extended its gains and is up nearly 10% for the month. The performance in January puts gold on track for its best month since August (12.25%). Of course, the metal plunged in September. Further, one has to go back to November 2009 to find the next best month (13.21%). Guess what? Gold plunged in December 2009. Yesterday’s comments apply – “While today’s incredible rally may be exhaustive, attempting to short is not smart as studies show that trends tend to persist until month end.” Supports are now1700 and 1680. The next potential resistance is from a steep trendline at 1747.

Bottom Line – flat

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

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