COT data is very important for gold as it’s tracked closely by a lot investors and speculators, especially for a longer-term approach. Looking at the Non-Commercials or Large Speculators, we can see that those are still heavily short, but they are approaching similar readings compared to 2013, 2015 and 2018. Notice that all of those […]
The post Gold to Rally in 2023? Watch the Elliott Wave Pattern, COT Data and US Yields appeared first on Action Forex.
Daily Pivots: (S1) 1.1373; (P) 1.1452; (R1) 1.1494; More…. Intraday bias in EUR/USD stays on the downside as fall from 1.2081 is in progress. Deeper decline should be seen to 38.2% retracement of 1.0176 to Read more…
Daily Pivots: (S1) 159.23; (P) 159.49; (R1) 160.00; More… USD/JPY is losing some momentum but further rise is in favor as long as 158.55 minor support holds. Rally 152.25 would target a retest on 161.94 Read more…
Daily Pivots: (S1) 1.3171; (P) 1.3271; (R1) 1.3323; More… Intraday bias in GBP/USD remains on the downside as fall from 1.3867 is in progress for 1.3008 structural support. Firm break there will carry larger bearish Read more…