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.

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 $USD breakdown has taken the index into confluence support at the objective yearly open. Get your USD technical analysis from @MBForex here: https://t.co/A16XEv6n4d https://t.co/GzEp3gCAe5
  • US equities continue to run higher with the Nasdaq 100 setting a fresh all-time-high, not even three months after giving back almost a third of its value in about a month. Get your #Nasdaq technical analysis from @JStanleyFX here: https://t.co/1LI54uvI8x https://t.co/e9FvSLqfaA
  • The US Dollar may be at risk to losses against some of its #ASEAN counterparts. USD/SGD, USD/PHP, USD/MYR and USD/IDR have recently broken to the downside. Will losses continue? Find out from @ddubrovskyFX here: https://t.co/0RTlj6maTT https://t.co/UyQ4i0AihI
  • The British Pound technical outlook still seems to favor the downside. GBP/CAD may pressure key rising support from August as GBP/AUD could prolong its downtrend. GBP/CHF may fall. Get your $GBP market update from @ddubrovskyFX here: https://t.co/hBOpDKXmfW https://t.co/AJlT2YKeCu
  • USD/JPY is approaching medium-term uptrend resistance and while the outlook remains constructive, the advance may be vulnerable near-term while below confluence resistance. Get your $USDJPY technical analysis from @MBForex here: https://t.co/93D7AyhHtG https://t.co/KQcLLrkMP3
  • AUD/USD has had the most impressive show of trend over the past couple of months with the pair gaining almost 1500 pips from the March low. Get your $AUDUSD technical analysis from @JStanleyFX here: https://t.co/vLz4Rpln3u https://t.co/AOwnJja5V8
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/AyRiYpb4cN
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/ygwjGNvS61
  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
  • The price of #gold plunged 1% immediately after the stunning US jobs report crossed the wires. Get your market update from @RichDvorakFX here: https://t.co/8i0L6YIqjy https://t.co/y9dIXazJf9
Gold Risks Larger Rebound as Bearish RSI Momentum Stalls

Gold Risks Larger Rebound as Bearish RSI Momentum Stalls

2014-11-04 18:37:00
David Song, Strategist

Talking Points:

- Gold Risks Larger Rebound as Relative Strength Index (RSI) Holds Support.

- Oil Continues to Search for Support, RSI Pushes Back Into Oversold Territory.

- USDOLLAR Outlook Remains Bullish as Fed Officials See Normalization in 2015.

For more updates, sign up for David's e-mail distribution list.


Gold Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Gold looks poised to hold above the $1,160 region as the Relative Strength Index (RSI) continues to find support around the 23 figure.
  • With the monthly opening range taking shape, will look for a continuation of the series of lower highs & lows as the precious metal appears to be in a near-term bottoming process.
  • Nevertheless, retail-crowd remains net-short XAU/USD, with the DailyFX Speculative Sentiment Index (SSI) currently standing at -1.14.


Oil Daily Chart
  • Oil remains at a risk for a further decline as the RSI dips back into oversold territory; need to see a break and close below the Fibonacci overlap from $75.40-80 to look for a further decline over the remainder of 2014.
  • Will keep a close eye on the growing relationship between oil prices & the U.S. dollar as the two securities show a -0.531 correlation from the beginning of October.
  • With that said, a move back above former support ($79.20-60) would provide conviction/confirmation that a lower-low is in place; will look for a lower-high down the road.

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Price & Time: A Contrarian’s Paranoia

COT: Yen Speculators Caught Off Guard

USDOLLAR(Ticker: USDollar):





Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index






Gold Risks Larger Rebound as Bearish RSI Momentum StallsGold Risks Larger Rebound as Bearish RSI Momentum Stalls

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar Index vulnerable to a near-term pullback as RSI struggles to push back into overbought territory; will watch former resistance (11,143) for new support.
  • Even though the U.S. dollar rally may looked stretched, the long-term outlook remains bullish as the FOMC prepares to normalize monetary policy, with St. Louis Fed President James Bullard seeing higher borrowing costs in 2015.
  • A break & close above 11,216 (38.2% expansion) should bring up 11,308 (50.0% expansion)-11,312 (78.6% retracement) on our radar.

Join DailyFX on Demand for Real-Time SSI Updates!





Trade Balance (SEP)




ISM New York (OCT)




Factory Orders (SEP)




IBD/TIPP Economic Optimism (NOV)




Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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


News & Analysis at your fingertips.