News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • The options market can be an excellent place to express trading ideas, as it presents numerous ways to structure trades with various risk profiles. Learn to trade the Options market with DailyFX. Download your free guide here! https://t.co/B78Mn99fU0 https://t.co/EpUMWMSGWO
  • On this week's Macro Setup @HathornSabin discusses with @GuyAdami & @RiskReversal the September stock swoon, rate rampage, and dollar dominance. Check it out! https://t.co/k68k2UP7rr https://t.co/0kGvdXWrDK
  • Fed's Bostic: - Any decision on a central bank digital currency is a long way off - Taper is warranted if current trends continue
  • Heads Up:🇺🇸 Fed Bostic Speech due at 19:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-28
  • Canadian #Dollar Outlook: $USDCAD Snaps Five-Days Down- Reversal Risk - https://t.co/O2MYTxe7bE https://t.co/tqIZUjE7pZ
  • AUD/USD lower on the day, but appears to be finding support around 0.7231 $AUDUSD https://t.co/XNnQWvJP4A
  • JP Morgan CEO Jamie Dimon: - $JPM has started preparing for potential US default - I expect Congress to address debt limit in time $JPM $USD $DXY
  • Heads Up:💶 ECB Panetta Speech due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-28
  • RT @MacroSetup: On today's episode of Macro Setup @GuyAdami & @RiskReversal discuss the September stock swoon, rate rampage, and dollar dom…
  • Gold prices have continued to sell-off in the wake of last week’s FOMC rate decision. . Get your $XAUUSD market update from @JStanleyFX here:https://t.co/UBBqiwf0cY https://t.co/K1HTfPrZaU
Gold 2 Day Drop Presents Long Opportunity

Gold 2 Day Drop Presents Long Opportunity

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Gold 2 Day Drop Presents Long Opportunity

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

Commodity Analysis: Given sentiment as indicated by COT and the retracement of the rally from the 2/21 low stopping at the high volume day close (2/20 close in futures), a bullish bias is warranted against the 2/21 low. The counter to this is that a drop below 1555 could complete 5 waves down from 1697 and give way to a more persistent advance.

Commodity Trading Strategy: Long against 1555, target 1650

LEVELS: 1523 1555 1576 1620 1639 1652

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

DISCLOSURES