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Gold Leading the Way in Macro Flows

Gold Leading the Way in Macro Flows

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_gold_body_Picture_3.png, Gold Leading the Way in Macro Flows

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Gold never got 1219 and has slightly exceeded trendline resistance. The yellow metal is leading the way with respect to risk aversion and the move above trendline resistance may indicate a shift towards risk aversion.

-1290s is the next important resistance level. Today’s low (outside day) is the trend defining level.

LEVELS: 1231 1245 1255 | 1268 1279 1294

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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