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  • Gold holding steady as stocks, dollar remain relatively flat during trade $XAU $USD https://t.co/DOS8MlnGWa
  • The US economy will be in particular focus over the coming days, with the first Federal Reserve rate decision of the Biden presidency and the initial Q4’20 US GDP report on the docket. Get your market update from @CVecchioFX here:https://t.co/IsXHxRNVvv https://t.co/xnYIDGwvDL
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  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Oil - US Crude: -0.02% Silver: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ra1oz2gMJz
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  • I'm not usually big with head and shoulders patterns but there are conflicting signals in $USD atm. 1st chart here is on h4 and it's a h&s with neckline ~ 90. 2nd chart is on h8, and its an inverse h&s with neckline ~ 91. Given calendar, a break this week can def happen. https://t.co/EuuD7kFDVP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lXqkGmTKFc
  • Today was the 'quiet' session of the week with only a few high profile indicators on tap. The high profile fundamental themes start up in earnest tomorrow (including the IMF's WEO). We will see how speculative charge for the likes of GME competes with global growth forecasts
  • US Dollar Head and Shoulders Pattern, Focus on USD/CAD, NZD/USD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/01/25/US-Dollar-USD-Head-and-Shoulders-Pattern-Focus-on-USDCAD-USD-CAD-NZDUSD-NZD-USD.html https://t.co/FzJjpcePv3
Gold Quiet Amid the Chaos

Gold Quiet Amid the Chaos

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Quiet Amid the Chaos

Chart Prepared by Jamie Saettele, CMT

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

-The last several updates of 2015 reiterated that “support is just under 1040 and that current COT figures are consistent with a market low.” Gold ended up holding the 1046 low (a weekly reversal formed that week). The turn higher in the New Year is consistent with how gold has traded the last several years (low into late December and then a strong start to the year). 1130 (2014 low and close to the 200 day avg) does loom as resistance for the gold price. A push through would be viewed as a positive in what may be an attempt at forming some sort of bottoming pattern.

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

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