Daily Technical analysis for March 10, 2021
Dollar holds firmer ahead of European trading
The dollar recovers some ground after the drop yesterday
The dollar is advancing to the highs for the day ahead of European morning trade today, with EUR/USD seen slipping to 1.1871 and USD/JPY rising to 108.91 currently.
The former is easing from 1.1900 as sellers keep near-term control and are still staying in search of a firmer test of the 200-day moving average (blue line) @ 1.1832.
Elsewhere, the greenback is also maintaining a modest advance against the commodity currencies with USD/CAD up 0.3% to 1.2680 and AUD/USD down 0.5% to 0.7670.
US Treasury yields are keeping a touch higher, with 10-year yields up 1 bps to 1.537%, though keeping lower compared to the levels seen last Friday and on Monday.
The risk rebound yesterday is also fizzling out as US futures are seen down 0.2% after a more solid session yesterday.
It may be a relatively quiet one in Europe with the push and pull this week still playing out ahead of the 10-year Treasury auction in US trading later.
Gold Price Futures (GC) Technical Analysis – Strong Move Over $1711.70 Could Mean Gold Hit Bottom on Friday
The direction of the April Comex gold market on Monday is likely to be determined by trader reaction to the major Fibonacci level at $1711.70. Gold futures finished slightly lower on Friday after clawing back earlier losses. Despite reports in the press and from some lazy analysts, the market did not make its low of the session following the release of the stronger-than-expected U.S. Nom-Farm Payrolls report.
During the pre-market session, gold futures hit a low of $1683.00. Shortly after the release of the report, gold plunged to $1683.80. This is significant because it represents a potentially bullish divergence from U.S. Treasury yields which touched a new high for the year after the jobs data was released.
Although gold futures closed lower for the session on Friday, it actually closed higher than it was trading immediately before the release of the robust jobs report. In my opinion, this was an important event that could translate into higher prices this upcoming week.
On Friday, April Comex gold futures settled at $1698.50, down $2.20 or -0.13%.
More importantly, at 13:30 GMT, gold was trading $1693.70. So following the release of the U.S. Non-Farm Payrolls report, gold closed up $4.80 or +0.28%.
Daily Swing Chart Technical Analysis
The main trend is down according to the daily swing chart. A trade through $1683.00 will signal a resumption of the downtrend. The main trend will change to up on a trade through $1815.20.
The minor trend is also down. A trade through $1739.10 will change the minor trend to up. This will also shift momentum to the upside.
The major retracement zone is $1711.70 to $1787.30. This zone is controlling the longer-term direction of the market. Gold closed on the weak side of this zone, but just below the lower or Fibonacci level at $1711.70.
The minor range is $1815.20 to $1683.00. Its 50% level at $1749.10 is the first short-term upside target price.
The short-term range is $1966.80 to $1683.00. If the main trend changes to up then look for the rally to extend into its retracement zone at $1824.90 to $1858.40.
Source: Technical analysis
Comments (60)
Usually I do not learn article on blogs, but I wish
to say that this write-up very pressured me to take a look at and do it!
Your writing taste has been amazed me. Thank you, very great article.
Hi! I know this is kinda off topic but I was wondering if you knew where I could locate a
captcha plugin for my comment form? I’m using the same blog platform as
yours and I’m having difficulty finding one?
Thanks a lot!
Ahaa, its fastidious conversation about this post at this place at this webpage, I
have read all that, so now me also commenting at this place.
I’ve been exploring for a little for any high quality articles or blog posts on this sort of space .
Exploring in Yahoo I ultimately stumbled upon this website.
Reading this info So i’m glad to express that I’ve an incredibly good uncanny feeling I
discovered exactly what I needed. I most unquestionably will
make sure to do not fail to remember this website
and give it a look on a constant basis.
Great beat ! I wish to apprentice while you amend your site, how can i
subscribe for a blog website? The account helped me a acceptable
deal. I had been tiny bit acquainted of this your broadcast offered bright clear concept
Today, I went to the beachfront with my children. I found a sea shell and gaveit to my 4 year old daughter and said «You can hear the ocean if you put this to your ear.» She placedthe shell to her ear and screamed. There was ahermit crab inside and it pinched her ear. She never wants to go back!LoL I know this is totally off topic but I had to tell someone!
It’s actually a nice and helpful piece of info. I’m happy that you just shared this helpful info with us.
Please stay us informed like this. Thanks for sharing.
… [Trackback]
[…] Read More Information here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Read More on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Find More Information here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
I am really impressed with your writing skills and also with the layout on your weblog.
Is this a paid theme or did you modify it yourself?
Anyway keep up the nice quality writing, it’s
rare to see a nice blog like this one nowadays.
My brother recommended I would possibly like this blog.
He was once totally right. This post truly made my day.
You can not believe just how so much time I had spent for this info!
Thanks!
Awesome! Its actually awesome post, I have got much clear idea about from this piece of writing.
Do you have any video of that? I’d like to find out some additional information.
I am really loving the theme/design of your blog.
Do you ever run into any browser compatibility issues? A couple of my blog visitors
have complained about my site not operating correctly in Explorer but looks
great in Safari. Do you have any tips to help fix this issue?
… [Trackback]
[…] Read More on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
Currently it seems like BlogEngine is the top blogging platform out there
right now. (from what I’ve read) Is that what you’re using on your blog?
Thanks , I have recently been looking for info about this subject for ages and yours is the greatest I have discovered till now.
However, what about the bottom line? Are you positive concerning
the supply?
Thanks for your personal marvelous posting! I actually enjoyed reading
it, you are a great author. I will remember to bookmark your
blog and will come back someday. I want to encourage you to ultimately
continue your great job, have a nice evening!
Simply wish to say your article is as surprising. The clarity
in your post is simply cool and i could assume you’re
an expert on this subject. Fine with your permission let me to grab your
feed to keep updated with forthcoming post.
Thanks a million and please carry on the gratifying work.
Everything is very open with a really clear description of the issues.
It was truly informative. Your site is useful. Thanks for sharing!
… [Trackback]
[…] Find More Information here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
I will immediately grab your rss feed as I can not find your e-mail subscription hyperlink or newsletter service.
Do you have any? Please permit me know in order that I could subscribe.
Thanks.
Hello! This is my 1st comment here so I just wanted to give a quick shout out and tell you
I truly enjoy reading your posts. Can you suggest any other blogs/websites/forums that deal with the same subjects?
Thank you so much!
When someone writes an piece of writing he/she maintains the plan of a user in his/her mind that how
a user can understand it. So that’s why this paragraph is great.
Thanks!
… [Trackback]
[…] Find More Info here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
Yesterday, while I was at work, my cousin stole my iphone and tested to see if it can survive a forty foot drop, just so
she can be a youtube sensation. My iPad is now destroyed and she
has 83 views. I know this is totally off topic but I had to share it with someone!
… [Trackback]
[…] Find More to that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Read More on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Info on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Read More on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Here you can find 28160 additional Info on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
a
a
… [Trackback]
[…] Find More here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Read More Information here on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Read More Info here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Find More on that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
… [Trackback]
[…] Find More to that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
Hey there! I just wanted to ask if you ever have any problems with hackers?
My last blog (wordpress) was hacked and I ended up losing many months
of hard work due to no data backup. Do you have any methods to protect against hackers?
Visit my web page: special
… [Trackback]
[…] Find More Information here to that Topic: dayfinanceltd.com/daily-technical-analysis-for-march-10-2021/ […]
It’s nice to see the best quality content from such sites.
There is some nice and utilitarian information on this site.
This is really interesting You re a very skilled blogger. I ve joined your feed and look forward to seeking more of your magnificent post.
Also I ve shared your site in my social networks! Watch bbc farsi صفحه اول
Very well presented. Every quote was awesome and thanks for sharing the content. Keep sharing and keep motivating others.
Pretty! This has been a really wonderful post. Many thanks for providing these details.
This is my first time pay a quick visit at here and i am really happy to read everthing at one place
A big thank you for your blog,Really looking forward to read more. dubai news live tv
Metal disposal facility Scrap aluminium business development Aluminum scrap sustainability
Metal waste recycling solutions, Aluminum cable shredding, Scrap metal recycling and reclaiming
Scrap metal reuse services Aluminum scrap compactor Aluminium waste collection
Eco-friendly scrap metal handling, Environmental impact of aluminum cable scrap, Scrap metal volume assessment
Scrap yard services Aluminium recycling future trends Aluminium alloy reclamation
Environmental metal recycling practices, Scrap aluminum cable prices, Environmental metal stewardship
Metal reprocessing and recovery Metal salvage yard Iron scrap warehousing
Ferrous metal recycling challenges, Iron waste reclaiming center, Metal reclaiming and reprocessing
Scrap metal branding Ferrous waste reclamation and reuse Iron scrap
Ferrous scrap trading, Iron and steel reclaiming facility, Scrap metal reclaiming and recycling
Metal recovery and recycling solutions Ferrous material baling Iron and steel reclaiming
Ferrous material scrap monitoring, Iron and steel reprocessing, Scrap metal processing yard
Metal waste reclamation services Ferrous material residual waste Iron scrap recollectors
Ferrous material recycling technology, Iron and steel scrapping and recycling yard, Metal separation services
Scrap metal transportation regulations Ferrous waste recycling and recovery Iron scrap residue
Ferrous material recycling sustainable practices, Iron scrap recovery solutions, Metal repurposing
Metal scrap recovery and reclamation Ferrous material processing standards Iron scrap brokerage services
Ferrous scrap recycling education, Iron scrap melting, Scrap metal utilization and trading
Great blog you’ve got here.. Itís difficult to find good quality writing like yours nowadays. I honestly appreciate people like you! Take care!!
Your article helped me a lot, is there any more related content? Thanks!
Very interesting subject, appreciate it for posting.Raise blog range