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Weekly Fundamental Euro Forecast: Shifting ECB Hike Odds Prove Supportive
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Japanese Yen Outlook: USD/JPY May Head Lower if US Yields Continue to Retreat
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Gold Support at 1750

Gold Support at 1750

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Gold Support at 1750

Prepared by Jamie Saettele, CMT

“Gold’s break higher shifts focus to the November high at 1813.30, the 61.8% extension of the 1527.30-1764 rally at 1853.85 and ultimately the September and all time high at 1932.60.” The gold bull should be expected as long as price is above 10706. 1745/50 is reinforced as support by a trendline, 20 day average and 2/22 low.

Bottom Line – correcting into a low

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

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