Never miss a story from Jamie Saettele

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Jamie Saettele

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Daily

Gold Downtrend Resistance is Near 1110 on NFP Friday

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. Gold completed the head and shoulders pattern with the 7/15 close. Targets are 1093 and 1106.50. The breakdown is valid as long as price is below the 7/6 high of 1174.78.”

“The target has been reached. Gold may try and form an important low down here at a long term trendline.” 11110 is resistance for Friday. A break above there is needed in order to suggest that something else (not bearish) is happening.

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