News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The future implications of the #Elections2020 may influence $AUDUSD following the #RBA and #Fed rate decisions as Congress struggles to pass another round of fiscal stimulus. Get your #currencies update from @DavidJSong here:
  • Gold prices declined in the aftermath of bearish technical cues, but a key zone of support was reinforced. $XAUUSD volatility risk is elevated ahead of the #Elections2020. Get your #metals update from @ddubrovskyFX here:
  • USD awakens, placing GBP/USD on the backfoot, while EUR/GBP cracks 0.90. Get your #currencies update from @JMcQueenFX here:
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here:
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here:
  • The British Pound, Australian Dollar and US Dollar may all experienced heightened periods of volatility as geopolitical risks in North America, Asia and Europe rattle global financial markets. Get your $GBPUSD market update from @ZabelinDimitri here:
  • The New Zealand Dollar may continue to outperform the haven-associated US Dollar as price breaks above key long-term resistance. Get your $NZDUSD market update from @DanielGMoss here:
  • #Gold prices declined following bearish technical cues, but a key zone of support was reinforced over the past 48 hours. #XAUUSD volatility risk is elevated ahead of the #USElection -
  • What is the US Dollar outlook based on retail positioning ahead of the November 3rd presidential election? EUR/USD may fall as AUD/USD rises. Which way could USD/CAD capitulate? Find out from @ddubrovskyFX here:
Gold Prices Fail To Mount Significant Rebound

Gold Prices Fail To Mount Significant Rebound

2016-09-13 12:15:00
Walker England, Forex Trading Instructor

Talking Points

  • Gold Prices Decline to Intraday Support at $1,324.76
  • Bearish Price Breakouts are Signaled for Gold under $1,322.04
  • If you are looking for more commodity trading ideas? check out our Gold Trading Guide

Yesterday’s rebound in Gold prices appears short-lived, with prices again declining towards values of support. Currently the price of Gold is testing intraday support found at the S3 pivot at a price of $1,324.76. A move through this value would be significant, as it would open up the commodity to a bearish breakout below $1,322.04. Not only would this place Gold prices at session lows, but a further decline below $1,320.24 would place the price of Gold at new weekly lows.

If the short-term price action for Gold remains supported, it opens prices to bounce again towards values of resistance. Intraday range resistance, as denoted in the 2Hour graph above, is found at the R3 pivot at a price $1,330.22. So far, Gold has failed to break above this boundary in three previous attempts today. In the event that Gold prices do breach this value, bullish breakouts may be signaled above the R4 pivot at $1,322.94.

Gold Price 2 Hour & Pivot Range

Gold Prices Fail To Mount Significant Rebound

(Created by Walker England)

Sentiment for Gold (Ticker: XAU/USD) currently has a SSI reading at +1.64. With 62% of traders positioned short, this typically gives Gold a bearish bias. In the event that Gold prices trade lower, it would be expected to see SSI move towards greater positive extremes. Alternatively, if prices rebound higher, traders should look for SSI to move back towards values that are more neutral.

Gold Prices Fail To Mount Significant Rebound

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.