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Real Time News
  • $ARKK down to a fresh three month low but finding some support on this confluent fibo level. If the rates theme continues could add more pressure here https://t.co/vfi4AHZKHd
  • tech side of the $USD forecast already starting to fill in with today's bullish breakout 😎 https://t.co/vHVn9WtWKX
  • I just finished my USD 4Q fundamental forecast with @JStanleyFX (who did the techs) at the end of last week. Today certainly jazzes up my assessment
  • The S&P 500 has opened with a sharp gap lower while the Dollar pushes an 11 month high. DailyFX's @JohnKicklighter talks about volatility, debt limits, and Fed forecasts! https://t.co/xNr8VZi1SC
  • $SPX trying to hold support after failing at resistance yday $SPY $ES currently about 4% off of the all time high https://t.co/uo5ohs01UU
  • Nasdaq tumbles 2% $NDX
  • The ICE's trade-weighted $DXY Dollar Index is at an 11 month high today. Notably, its largest component - $EURUSD - has not slipped the August low https://t.co/RbkyJVC2Oq
  • Stocks extend fall, Dow Jones down 1% following worse-than-expected US Consumer Confidence #trading $DJIA
  • Big enough disappointment to heap onto the risk aversion but not bad enough to restart speculation of a delayed November taper from the FOMC. Net net, further bearish pressure on $SPX https://t.co/oprOLVTdQX
  • The $SPX has opened today with its biggest bearish gap since last Monday's tumble. Officially squashes the recovery momentum and now we are more balanced in facing fundamental event risk - bullish or bearish https://t.co/hW5U62hWez
Gold Pierces Breakdown Line

Gold Pierces Breakdown Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Pierces Breakdown Line

Chart Prepared by Jamie Saettele, CMT

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

-“Pay attention to RSI, which has been coiling since November. The length of the momentum coil indicates a great deal of stored energy and the potential for an explosive move.”

-The latest attempt on the upside failed (RSI failed at its own trendline), which keeps the broader move sideways to down. Of note as well is a possible head and shoulders pattern. Gold is testing the breakdown level now. A rally above the 6/29 high is needed in order to shift focus higher.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

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