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  • US Dollar Outlook: DXY Slides During Powell's Fed Testimony -via @DailyFX Link to Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2021/06/22/us-dollar-outlook-dxy-slides-during-fed-powell-testimony.html $DXY $USD #Forex https://t.co/aza7FQRnF8
  • If you follow the emerging market currencies, another liquid EM cross to take note of is $USDZAR. Wavering at 14.5000 which is the 100-day moving average and trendline resistance since the pandemic recovery started. Haven appetite or carry competitor? https://t.co/s4PKXRTgo8
  • Through this past session, $USDCNH has climbed for eight straight trading sessions. Longest stretch since June 28, 2018 and one of the few areas the Dollar's climb has persisted https://t.co/sG2Ej804j5
  • The retailer has created an event that sees its sales surpass Black Friday and Cyber Monday combined. Get your market update from @PeterHanksFX here:https://t.co/LCyr0z9DHh https://t.co/xDTXRH1TEj
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.44% 🇳🇿NZD: 0.43% 🇪🇺EUR: 0.19% 🇬🇧GBP: 0.11% 🇨🇭CHF: -0.03% 🇯🇵JPY: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/CoczW1YszK
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  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.37% Gold: -0.28% Silver: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/K9Qw88fR9n
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.01%, while traders in France 40 are at opposite extremes with 68.82%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HWcth7b6kv
  • WH Press Sec. Psaki: - More work remains on infrastructure after meeting - Today or tomorrow, a White House team will meet with Senators from both parties
Gold Pressing Confluence of Technical Levels

Gold Pressing Confluence of Technical Levels

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_gold_body_gold.png, Gold Pressing Confluence of Technical Levels

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

Commodity Analysis: No change – “Gold’s rally reversed gains after running into former lows and channel resistance. Gold’s advance is better than silver’s, which remains extremely depressed. Daily RSI on the metal has recovered to 60, a common area for the indicator to stop in a bear market. In fact, yesterday’s reading was the highest since 11/23/12. Resistance is estimated at 1332 (now reached) .”

Commodity Trading Strategy: Short triggered at 1332, stop 1350, target half 1270

LEVELS: 1223 1267 1313 1332 1350 1395

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

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