0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Low
High
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
Wall Street
Mixed
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.03%, while traders in Wall Street are at opposite extremes with 75.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vMFvN2tfFK
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out:https://t.co/y3cckNW22W https://t.co/6CJUecZSS5
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.16% 🇪🇺EUR: -0.18% 🇯🇵JPY: -0.26% 🇨🇭CHF: -0.29% 🇦🇺AUD: -0.36% 🇳🇿NZD: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/M8YZmaQTO8
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.23% US 500: 0.14% FTSE 100: -0.02% Germany 30: -0.63% France 40: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/eZYoKFHsFQ
  • The Dollar slipped just before its bullish reversal could get its footing while gold outright tumbled. I am dubious of both moves. My video for today: '#Dollar Builds Its Range on Same Sparks that Turn S&P 500, Gold Reversal' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/12/Dollar-Builds-Its-Range-on-Same-Sparks-that-Turn-SP-500-Gold-Reversal.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/b743hgerTf
  • RBNZ Governor Adrian Orr: Current conditions don't suit foreign asset purchases - BBG $NZDUSD #RBNZ
  • RBNZ Governor Adrian Orr: No target for bond yields but not out of the question in the future - BBG $NZD #RBNZ
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/sV2cqUTy7B
  • RBNZ Governor Adrian Orr: Want to actively get bond yields lower - BBG $#RBNZ $NZDUSD
  • RBNZ Governor Adrian Orr: Cap on bond holdings raised to 60%, wants to see bond market remain deep and liquid - BBG $NZDUSD #RBNZ
Gold Prices Soar to Challenge Range Top as US Dollar Drops

Gold Prices Soar to Challenge Range Top as US Dollar Drops

2019-02-18 01:30:00
Ilya Spivak, Head Strategist, APAC
Share:

GOLD & CRUDE OIL TALKING POINTS:

  • Gold prices soar to challenge 3-week range top as the US Dollar drops
  • Breakout upward might expose trend-defining 1357.50-66.06 resistance
  • Crude oil prices break February top, set stage for rise to 3-month high

Gold prices rose on Friday even as bond yields rose in risk-on trade – typically a headwind for the yellow metal – as the US Dollar plunged, boosting the appeal of anti-fiat alternatives. The greenback’s retreat looks to have reflected ebbing haven demand. Crude oil prices tracked stocks upward.

US MARKET CLOSURE LIKELY TO SAP LIQUIDITY, CONVICTION

Looking ahead, US market closures for the President’s Day holiday are likely to sap liquidity and make for consolidative trade. Diminished participation might also amplify kneejerk volatility in over-the-counter markets including spot gold if unforeseen headline risk emerges. Proceeding cautiously seems prudent.

Learn what other traders’ gold buy/sell decisions say about the price trend!

GOLD TECHNICAL ANALYSIS

Gold prices continue to tread water above a support block running through 1294.10. A daily close below invalidates the uptrend from mid-November and exposes the next layer of support at 1276.50. Alternatively, a push above resistance at 1323.60 targets the trend-defining top in the 1357.50-66.06 area.

Gold price chart - daily

CRUDE OIL TECHNICAL ANALYSIS

Crude oil prices continue to pressure chart resistance, but a bearish Evening Star candlestick pattern still warns of topping. A daily close above the February 4 high at 55.75 would invalidate the setup and expose the 57.96-59.05 area. Alternatively, a downswing from here that takes out support in the 49.41-50.15 zone opens the door for a decline back toward the 42.05-55 region.

Crude oil price chart - daily

COMMODITY TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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

DISCLOSURES

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.