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  • Much like the rest of the G10 FX space, the Australian Dollar has struggled for direction with the recent uptrend beginning to stall at 0.78. Get your $AUDUSD update from @JMcQueenFX here: https://t.co/IReLh35w64 https://t.co/EoSXjkxtFU
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  • Heads Up:🇺🇸 Industrial Production MoM (DEC) due at 14:15 GMT (15min) Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-01-15
  • Heads Up:🇺🇸 Industrial Production YoY (DEC) due at 14:15 GMT (15min) Previous: -5.5% https://www.dailyfx.com/economic-calendar#2021-01-15
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Gold Former Resistance Serves as Support

Gold Former Resistance Serves as Support

2013-09-02 00:53:00
Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_gold_1_body_gold.png, Gold Former Resistance Serves as Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

Commodity Analysis: “Gold has broken through the zone of consolidation that took place in mid-June and a confluence of trendlines. Focus now shifts to the June high at 1424.” 1424 has been reached as has channel resistance and gold pulled back after a long wick Thursday. These are signs of a top.

Commodity Trading Strategy: Flat

LEVELS: 1318 1352 1373 1417 1424 1440

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

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