DAILY MARKET ANALYSIS, USD and GOLD

US DOLLAR DAILY TECHNICAL ANALYSIS

US DOLLAR DAILY TECHNICAL ANALYSIS

Prices may have eventually started to turn lower as estimated following the appearance of a bearish Evening Star candlestick pattern. Near-term support level is at 11740, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis revealing the 23.6% level at 11653.

Alternatively, a reversal over the 11854-76 zone (the 14.6% Fibonacci expansion, March 2009 high) allows investors for the next challenge of the 23.6% expansion at 11963.

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GOLD DAILY TECHNICAL ANALYSIS

GOLD DAILY TECHNICAL ANALYSIS

Prices demanding pivotal support at 1197.86, marked by the intersection of a channel floor, a growing trend line and the 61.8% Fibonacci retracement. A break lower than this barrier opens channel floor support at 1180.93, followed by the 76.4% Fibonacci level at 1171.96.

Alternatively, a reversal on top of the intersection of channel top resistance and the 50% Fibonacci at 1218.80 targets the 38.2% retracement at 1239.73.

US DOLLAR DAILY TECHNICAL ANALYSIS Prices may have eventually started to turn lower as estimated following the appearance of a bearish Evening Star candlestick pattern. Near-term support level is at 11740, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis revealing the 23.6% level at 11653. Alternatively, a reversal over the 11854-76 zone (the 14.6% Fibonacci expansion, March 2009 high) allows investors for the next challenge of the 23.6% expansion at 11963. ...
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