MORNING SESSION: 8/17/2021

 Focusing on USD related Forex pairs this morning following Retail Sales (MoM) with an actual reading of -1.1% following a consensus of -0.3% and a previous reading of 0.7% sighted positive initial movements for DXY. Looking at gold, I placed short orders earlier in the morning, with a follow-up order around the $1793 range. My first orders around the $1783 range turned red while finding another resistance level around $1795. SL's have been placed in the $1810 range, with targets around the $1759 price point. In about four hours we'll be anticipating Fed Chair Jerome Powell to speak on interest rates and other happenings surrounding the fed which will hopefully drive the dollar higher creating a weaker gold price. Time will tell, stay tuned to our twitter handle found in the footer for all updates.

-J