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  • EU's von der Leyen: It is essential to share vaccines, to distribute vaccines, and invest in increasing vaccine manufacturing capabilities $EUR
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  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.89% Silver: 0.51% Oil - US Crude: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EIivWB3Yb1
  • The USD/CAD breakdown is approaching initial support hurdles just lower and we’re looking for possible inflection early in the month. Get your $USDCAD market update from @MBForex here:https://t.co/UMm5aM60gf https://t.co/rgHqmPuL4t
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.29%, while traders in Wall Street are at opposite extremes with 77.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vd31LiB2NA
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.62% Wall Street: 0.55% France 40: 0.10% FTSE 100: 0.09% Germany 30: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lxYCeemuH7
  • US 10-year breakeven rates climb to 2.5%, the highest level since 2013 -BBG $TNX $USD $DXY
  • The Dow Jones and S&P 500 jumped to all-time highs following a disappointing NFP report. Get your market update from @PeterHanksFX here:https://t.co/SIZzm3m1Sg https://t.co/qDR3Kr7k5B
Gold Putting Traders to Sleep Before Next Move

Gold Putting Traders to Sleep Before Next Move

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_gold_body_gold.png, Gold Putting Traders to Sleep Before Next Move

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

Commodity Analysis: To review, “Gold didn’t quite trade to new lows but silver did last week. Non-confirmations (divergences) of price extremes between related assets often mark market turns or at least the beginning of a reversal pattern. Gold’s low was also at a downward sloping trend channel. Recent chop could be the beginning of gold forming a bullish base.” Near term, watch for resistance from the ‘meridian’ line that has proved important on numerous occasions. The line is at about 1440 this week.

Commodity Trading Strategy: Flat

LEVELS: 1321 1367 1394 1439 1470 1500

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