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
  • SEC Chair Gensler: - Working with Congress on crypto would help - A large number of crypto investors could be harmed
  • Pre-FOMC US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/JPY https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/09/21/Pre-FOMC-US-Dollar-Price-Action-Setups-EUR-USD-EURUSD-GBP-USD-GBPUSD-USD-JPY-USDJPY.html https://t.co/Vyj5hwVXpi
  • The big question is whether the Fed announces taper tomorrow or whether they punt that announcement to the November rate decision, waiting for employment data to improve to the point of ‘significant further progress. More market update from @JStanleyFX :https://t.co/tPoLyqNFc1 https://t.co/o3ES0KKlWr
  • SEC Chair Gensler: - The market is in a better position to absorb global shocks - Securities rules give the SEC great power over crypto
  • feels like we haven't had one of these in quite a while https://www.dailyfx.com/webinars/643096611 Pre-FOMC Price Action Setups, starting right at 1pm, top of the hour 1. USD PA setups 2. Evergrande worries 3. Stonks - fly or die? https://t.co/VF15XbuuJS
  • That all said, staying patient and not chasing is prudent here imo. Tomorrow will likely be better for assessing short-term directional bias (China markets open again following holiday, post-FOMC).
  • Also, S&P Global put out a report overnight that said China would likely step in to curb “far-reaching contagion” re: Evergrande. The House is scheduled to vote on a stopgap funding bill Tuesday, which might be alleviating some investor angst around the debt ceiling as well.
  • Encouraging we recoiled higher off yesterday’s closing level. Could the pre-FOMC drift be at work? Markets were priced for potential hawkish shift and increased odds of taper timeline announcement. Perhaps seeing an unwind of that in light of recent market developments.
  • Join @JStanleyFX at 13:00 EST/17:00 GMT for a webinar on trading price action. Register here: https://t.co/O5PPiQXZKs https://t.co/pXMRUCl53G
  • USD/CAD snaps the recent series of higher highs and lows after struggling to test the August high (1.2949). Get your $USDCAD market update from @DavidJSong here:https://t.co/chaVL0iSIQ https://t.co/Bj7emg2s8n
Gold Takes a Seat on Channel Support

Gold Takes a Seat on Channel Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_gold_1_body_gold.png, Gold Takes a Seat on Channel Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-Gold reversed from channel resistance 2 weeks ago. The rally from 1180 would consist of 2 equal waves at 1440, a little over $6 from the top that is in place now.

-Price broke the 9/2 low. The 7/24 high, channel support, and 8/20 low are in focus at 1347-1352. Weakness below there would suggest that the rally from 1180 is complete.

Trading Strategy: Looking for resumption of long term weakness as per the 3 wave advance from 1180 and near equality of the legs from the low. Resistance is 1375. Shorts favored into that level against 1400.

LEVELS: 1301 1318 1352 | 1375 1384 1393

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

DISCLOSURES