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
Gold Market is Quiet Following Large Down Day

Gold Market is Quiet Following Large Down Day

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_gold_body_Picture_3.png, Gold Market is Quiet Following Large Down Day

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-Obvious levels of interest over the next few days and weeks are the 7/5 low at 1208 and the Jun low of 1180.

-Beyond 1180, the Jul 2010 low at 1157 and perhaps the 2010 low of 1045 become of interest. The latter level may be one that inspires a significant reversal as the 2008 high is at 1033. In general, the 1000 area was a ceiling for several years and may be the new floor but probably not until 2014.

Trading Strategy: Flat

LEVELS: 1150 1180 1208 | 1229 1241 1258

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

DISCLOSURES