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EUR/USD Latest – Ranging Ahead of Next Week’s US Data and FOMC Minutes
2022-05-20 10:20:00
Rising Rates and Volatility are Features, Not Bugs: Top Trade Opportunities
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Crude Oil Forecast Relegated to Volatile Range Until Either 115 or 100 Breaks
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2022-05-19 03:30:00
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Weekly Fundamental Euro Forecast: Shifting ECB Hike Odds Prove Supportive
2022-05-22 19:30:00
Gold Price Rebound May Fail as Top Central Bankers Sound Off
2022-05-22 00:00:00
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British Pound Forecast: GBP/USD Rallies on Positive UK Data, US Dollar Weakness
2022-05-20 16:00:00
Monthly Forex Seasonality – May 2022: Typically a Good Month for USD
2022-05-19 20:00:00
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Japanese Yen Outlook: USD/JPY May Head Lower if US Yields Continue to Retreat
2022-05-20 15:05:00
Swiss Franc Boost Continues After Hawkish Turn from SNB While US Dollar Sinks
2022-05-20 05:00:00
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Commodity Technical Analysis: Gold Testing Fibonacci Support

Commodity Technical Analysis: Gold Testing Fibonacci Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Commodity Technical Analysis: Gold Testing Fibonacci Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Commodity Analysis: The current level, defined by the 61.8% retracement of the rally from the low and 1/4 close (1/4 is important because it was a high range day and high volume day), is critical to the next move in gold. Strength above Friday’s high would suggest that a low is in place.

Commodity Trading Strategy: Flat

LEVELS: 1626 1642 1655 1672 1683 1697

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

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