Technical Analysis Elliott Wave Forecast Gold XAU/USD GDX Silver XAG/USD ETF GDX US Dollar Index DXY and US Gov Bonds 10 YR Yield

US Dollar Index DXY: Wave 4 top is completed and the DXY is steadily edging lower Into Wave 1 We can expect the dollar to continue lower in the months and weeks ahead.

US Gov Bonds 10 YR Yield: will move down to 1.00

Gold Technical Analysis:Small Elliott Wave triangle pattern in the 1830 - 1790 range that is uncompleted as Wave B

Elliott Wave Gold: Tracking two counts, the Impulse wave and Elliott Wave Triangle

Gold Trading Strategy:Neutral

TradingLevels: Market support Sub-group 2 1765|17772|1780

Peter Mathers tradinglounge

As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD stays near 1.0700 after US data

EUR/USD stays near 1.0700 after US data

EUR/USD stays in a consolidation phase at around 1.0700 in the early American session on Wednesday. The data from the US showed a strong increase in Durable Goods Orders but failed to provide a boost to the US Dollar.

EUR/USD News

USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom

USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom

USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap. 

USD/JPY News

Gold manages to hold above $2,300

Gold manages to hold above $2,300

Gold struggles to stage a rebound following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% ahead of US data, not allowing XAU/USD to gain traction.

Gold News

Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium

Worldcoin looks set for comeback despite Nvidia’s 22% crash

Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.

Read more

Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium

Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out

While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration. 

Read more

Majors

Cryptocurrencies

Signatures