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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • (Asia AM) The #DowJones, #SP500 and #NASDAQ Composite may climb after my Wall Street index avoided a downside breakout. Donald Trump’s news conference on China cooled escalation woes - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/05/31/Dow-Jones-SP-500-Nasdaq-Composite-Ready-for-More-Highs.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/KDrzpy6PFb
  • Preview of my piece previewing Europe/US ⬇️ https://t.co/hVYqYLVQaq
  • US-China tensions remain, #ECB stands ready to expand QE purchases, EU-UK trade talks in focus. Get your #equities market update from @JMcQueenFX here: https://t.co/hKLNJKqMoz https://t.co/h45Cngonhw
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/CR4z6lul34
  • AiG Manufacturing Index (May): 41.6 vs 35.8 prior. Factory sector shrank for a second consecutive month, but at a slower pace than April. #AUDUSD
  • US equity futures pointed lower along with cycle-sensitive AUD and NZD while anti-risk #JPY and #USD are edging higher. Possible catalysts are protests in American cities combined with tension between the US and China over Hong Kong.
  • Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • (Weekly Fundamental Outlook) The medium-term #gold outlook still seems favorable as the #Fed, ECB and more keep rates around 0. Immediate event risk ahead includes the RBA and BoC interest rate decisions, US jobs data and #Brexit talks #XAUUSD - https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/05/30/Gold-Prices-Face-RBA-BoC-ECB-US-Jobs-Data-and-Brexit-Talks.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/m8sRNc4L5H
  • U.K. Eurozone Czech Poland Germany Italy France Spain Indonesia Hong Kong Singapore Japan Unemployment stats: US Eurozone
  • Hello there, traders! Heads up: we have got a data-packed week ahead of us. Here are the highlights: Central bank rate decisions: - BOC - ECB Markit PMI data out of: China US Vietnam Malaysia South Korea Philippines Thailand Taiwan India Turkey (continued⬇️)
Gold Rally May Find Resistance at 1322

Gold Rally May Find Resistance at 1322

2013-08-08 23:57:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_gold_1_body_gold.png, Gold Rally May Find Resistance at 1322

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

Commodity Analysis: “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.” Watch for resistance at 1322.

Commodity Trading Strategy: Flat

LEVELS: 1224 1244 1287 1322 1348 1365

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

DISCLOSURES

News & Analysis at your fingertips.