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
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
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
  • Reminder, Italian Economy Minister said at the beginning of the month he was confident the new European Recovery Fund will make available at least EUR 100bln..... BTPs off best levels https://t.co/f9Y6NRdmhn
  • Italy to be allocated EUR 81.8bln in grants Spain to be allocated EUR 77.3bln in grants France to be allocated EUR 39bln in grants under EU proposal
  • EU to Unveil Covid-19 Recovery Fund Plan, Swiss Franc Sinking - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/05/27/EU-to-Unveil-Covid-19-Recovery-Fund-Plan-Swiss-Franc-Sinking.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #coronavirus #EU #CHF
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.69% France 40: 1.65% Germany 30: 1.61% FTSE 100: 1.51% US 500: 1.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2TnK1MAjal
  • EUR/USD Price Rejected at Resistance, Now Eyes the Support - EUR vs USD Outlook more details in the link: https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2020/05/27/EURUSD-Price-Rejected-at-Resistance-Now-Eyes-the-Support-EUR-vs-USD-Outlook-MK.html?CHID=9&QPID=917714 https://t.co/1WxJZCpEbg
  • FTSE 100 +1.70% @ 6,162 - pushing back towards 50% Fib retracement and early March gap...#ftse #ftse100 @DailyFXTeam https://t.co/gC5fRZHKES
  • EU Commission to mobilise EUR 750bln for European recovery fund - EUR 500bln grants - EUR 250bln loans $EUR
  • BREAKING: Reports on the wires that the EU is considering an EUR750bn virus recovery plan. EU Commission to unveil details later today. #EUR #EuropeanUnion #COVID19
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT to gain insight on indices and commodities for the active trader. Register here: https://t.co/gghsFsZYlx https://t.co/MpELL4brE5
  • The Canadian Dollar has proven stable in recent weeks following a dramatic turn lower in March, guided to the downside by energy markets. Get your $USDCAD market update from @CVecchioFX here: https://t.co/7tlrn74X3t https://t.co/dXPFiHz6EA
Gold Retraces Monday Drop; Faces Tough Road up to 1270

Gold Retraces Monday Drop; Faces Tough Road up to 1270

2013-12-04 00:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_gold_body_Picture_3.png, Gold Retraces Monday Drop; Faces Tough Road up to 1270

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Gold wiped out Monday’s losses but the damage done on the break of the Oct low isn’t wiped away in one day. In fact, the rally has resulted in the price facing resistance again.

-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

News & Analysis at your fingertips.