Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader and see ideas on other USD crosses
–Gold’s drop through 1260 negated the bullish bias. The drop below the Oct low shifts focus to the 6/28 close at 1234.
-The trendline that extends off of Aug and Sep highs may serve as support in the coming days/weeks. The steep line that originates from the 10/30 high is possible resistance along with 1251-1261.
Trading Strategy: I am flat but the new trend defining level is 1278.80 (below is bearish).
LEVELS: 1180 1208 1234 | 1251 1261 1269
— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com