David Song

David Song

Currency Analyst

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Central bank policy, economic indicators, and market events.
David Song is a Currency Analyst for DailyFX, specializing in news-driven trading and mixing fundamental expertise with technical analysis. He studied macroeconomic policies under a visiting scholar at the Federal Reserve Bank of St. Louis while attending the Zicklin School of Business at Baruch College where he received his degree in Finance and Investments. He gained experience in technical analysis from a former president of the Market Technicians Association, and incorporates both technicals and fundamentals in his reporting.



USD/JPY Extends Bearish Series Following Less-Hawkish Fed Rhetoric

Recent price action in USD/JPY raises the risk for a larger pullback as the exchange rate extends the series of lower highs & lows from earlier this week.

AUD/USD Continues to Eye September-High Despite Waning Retail Interest

AUD/USD appears to be making another run at the September-high (0.7315) even as market participation appears to be waning ahead of the weekend.

Oil Price RSI Holds in Oversold Territory Even as UAE Vows to Cut Output

Oil prices remain vulnerable even as the United Arab Emirates (UAE) vows to cut crude production as long as the Relative Strength Index (RSI) holds in oversold territory.

AUD/USD to Stage Larger Recovery on Upbeat Australia Employment Report

Australia’s Employment report may fuel the recent recovery in AUD/USD as the economy is anticipated to add another 20.0K jobs in October.

EUR/USD Rate Forecast: Weakness to Persist as RSI Extends Bearish Trend

EUR/USD attempts to retrace the decline from earlier this week, but recent developments in the Relative Strength Index (RSI) casts a bearish outlook for the exchange rate.

Gold Prices Risk Larger Rebound as Bearish Sequence Unravels

Gold prices may continue to consolidate over the remainder of the week as the recent series of lower highs & lows snap ahead of the October-low ($1183).

Uptick in U.S. Consumer Price Index (CPI) to Curb EUR/USD Rebound

Updates to the U.S. Consumer Price Index (CPI) may undermine the recent rebound in EUR/USD as the headline reading for inflation is expected to climb 2.5% in October.

Upbeat Australia Wage Price Index (WPI) to Fuel AUD/USD Rebound

Updates to Australia’s Wage Price Index (WPI) may fuel the recent rebound in AUD/USD as household earnings are projected to pick up in the third-quarter of 2018.

NZD/USD Correction Still in Play Amid Hope for U.S.-China Trade Deal

Recent price action in NZD/USD raises the risk for a larger correction as the exchange rate snaps the series of lower highs & lows carried over from the previous week.

USD/JPY Initiates Lower Highs & Lows Ahead of Fresh Fed Rhetoric

USD/JPY initiates a series of lower highs & lows after failing to test the 2018-high (114.55), but fresh comments from Fed officials may keep the exchange rate afloat.

AUD/USD Carves Bearish Sequence Following Failed Run at September-High

The advance from the 2018-low (0.7021) may continue to unravel as AUD/USD carves a fresh series of lower highs & lows after failing to the test September-high (0.7315).

Gold Price Outlook Mired by Lower Highs & Lows, Bearish RSI Signal

Gold prices stand at risk of extending the fresh series of lower highs & lows as the Relative Strength Index (RSI) flashes a bearish signal.

Weekly Fundamental Forecast: As Political and Rate Decision Risks Ebb, Will Sentiment and Trade Wars Take Over?

The US mid-term elections and FOMC rate decision from this past week were noteworthy distractions for the markets, but they were not ultimately true course settings for the markets. The docket thins ...

Oil Price Enters Bear Market Even as U.S. Crude Output Hits Record-High

The current environment is likely to keep crude prices under pressure as OPEC changes gears, while the RSI pushes into oversold territory for the first time since 2017.

USD/JPY Bullish Sequence Fizzles as U. of Michigan Fails to Impress

Recent price action in USD/JPY raises the risk for a larger pullback as the exchange rate fails to extend the series of higher highs & lows from earlier this week.

Lackluster U. of Michigan Confidence Survey to Curb EUR/USD Losses

Updates to the U. of Michigan Confidence survey may undermine the U.S. dollar strength following the Fed meeting as the index is expected to narrow in October.

AUD/USD Holds Bullish Series Ahead of RBA Statement on Monetary Policy

Topside targets remain on the radar for AUDUSD ahead of the RBA’s Statement on Monetary Policy as the exchange rate retains the bullish series from earlier this week.

FOMC Preview: Wait-and-See Mode to Keep EUR/USD Afloat

The Federal Open Market Committee (FOMC) interest rate decision may yield a limited reaction as the central bank is expected to retain the current policy.

Oil Price Outlook Mired by Ongoing Oversold RSI Signal

Recent price action keeps the downside targets on the radar for oil especially as the Relative Strength Index (RSI) sits in oversold territory for the first time since 2017.

EUR/USD Rate Outlook Hinges of Fed Forward-Guidance

EUR/USD remains bid ahead of the Federal Reserve meeting, with the exchange rate at risk for a near-term rebound amid the failed attempt to test the August-low (1.1301).