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.

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
EUR/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
Oil - US Crude
Bearish
Wall Street
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
Gold
Bearish
GBP/USD
Bearish
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
  • Stock diversification can help investors through volatile periods within the stock markets. Get your guide to stock diversification here: https://t.co/is594vNNcT https://t.co/kUxUFk5TW0
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 3.23% Gold: 1.67% Oil - US Crude: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EOQKtjK8EG
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇨🇭CHF: 0.29% 🇨🇦CAD: 0.23% 🇬🇧GBP: 0.12% 🇦🇺AUD: 0.05% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eI4xtkV6Gd
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.55% Wall Street: 1.19% US 500: 1.15% Germany 30: 0.73% France 40: 0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UwXqB3FED1
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/lpeiULx9Wq
  • #Gold prices recovering lost ground after collapsing to the lowest levels in over 4 months Breaking back above the 200-DMA (1799) could inspire a more extended rally and bring the September low (1848) into play. #XAUUSD #bullion https://t.co/npQWLB7Ywo https://t.co/EGbqmv2bjp
  • 💶 Inflation Rate YoY Flash (NOV) Actual: -0.3% Expected: -0.2% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-12-01
  • 💶 Core Inflation Rate YoY Flash (NOV) Actual: 0.2% Expected: 0.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-12-01
  • 💶 Inflation Rate MoM Flash (NOV) Actual: -0.3% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-12-01
  • 💶 Core Inflation Rate YoY Flash (NOV) Actual: 0.2 Expected: 0.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-12-01
Gold Near Term Pivot is Lowered to 1330

Gold Near Term Pivot is Lowered to 1330

2013-10-09 20:19:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_gold_1_body_gold.png, Gold Near Term Pivot is Lowered to 1330

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-A head and shoulders top was confirmed last Tuesday (Wednesday’s reversal raises the possibility of the pattern failing) with the break of the neckline (a more conservative approach is to wait for 1272 to break however). The objective is below the June low of 1180 at 1150.

-Possible supports along the way are the August low at 1272, channel support, and the 6/28 close at 1234.

-Price has responded to trendline resistance.

Trading Strategy: Short, risk can be moved down to1330. The h&s target is 1150 (basically a test of the lows). I’ll continue to trail stops as market action allows.

LEVELS: 1234 1273 1285 | 1319 1330 1354

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

DISCLOSURES