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 Australian Dollar may extend its slide lower despite the planned easing of Covid-19 restrictions, as the market continues to price in an RBA rate cut on October 6. Get your #currencies update from @DanielGMoss here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your USD/INR market update 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:
  • #Gold prices have plunged nearly 11% off the record highs with a breakout risking further losses. Here are technical trade levels that matter on the XAU/USD weekly chart. Get your #metals update from @MBForex here:
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:
  • GBP turbulence persists as investors eye the next round of EU-UK Brexit negotiations. Cautious optimism signals a deal is near. Get your #currencies update from @JMcQueenFX here:
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
Gold Hits Fresh Monthly High- USD Bulls Banking on Fed Minutes?

Gold Hits Fresh Monthly High- USD Bulls Banking on Fed Minutes?

2015-08-19 16:15:00
David Song, Strategist

Talking Points:

- Gold Climbs to Fresh Monthly High- Threatens Bearish RSI Momentum.

- GBP/USD Breakout to Gather Pace on Strong U.K. Retail Sales.

- USDOLLAR Fails to Benefit From Sticky CPI- FOMC Minutes in Focus.

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


XAU/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Gold (XAU/USD) appears to be making a larger assault at the bearish RSI momentum as it climbs to a fresh monthly high of $1129; bullish trigger raises the risk for a larger correction in the precious metal.
  • Will keep a close eye on $1138 (50% retracement) in light of the near-term rebound, with the key area of interest coming in around the former support zone, $1145 (78.6% expansion) to $1146 (50% retracement) amid the weakening outlook for global growth.
  • DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long XAU/USD since May, with the ratio coming off of recent extremes as it narrows to +1.24, with 55% of traders long.


GBP/USD Daily Chart
  • A series of closing prices above 1.5630 (38.2% retracement) to 1.5650 (38.2% expansion) may encourage a further advance in GBP/USD especially as the bullish RSI momentum continues to take shape.
  • With U.K. Retail Sales projected to rebound 0.4% in July, signs of a stronger recovery may spur a growing dissent within the Monetary Policy Committee (MPC) & heighten the bullish sentiment surrounding the British Pound.
  • Will keep a close eye on the topside targets amid the near-term breakout, with the next region of interest coming in around 1.5750 (23.6% retracement) to 1.5790 (50% expansion).

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

Read More:

Price & Time: USD/CAD Holding Up Well

Scalping NZDUSD Opening Range- 6630 Resistance Remains Key Hurdle

USDOLLAR(Ticker: USDollar):





Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index






Gold Hits Fresh Monthly High- USD Bulls Banking on Fed Minutes?USDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar holds within the previous day’s range ahead of the Federal Open Market Committee (FOMC) Minutes even though the U.S. Consumer Price Index (CPI) were in-line with market expectations; suggest market participants are waiting for clarity on the monetary policy outlook.
  • Given the unanimous vote along with the limited commentary following the July 29 interest rate decision, may get more of the same as the Fed continues to look for a further improvement in the labor market.
  • Will continue to watch 12,049 (78.6% retracement) as the USDOLLAR continues to come off of near-term support around 11,951 (38.2% expansion) to 11,965 (23.6% retracement).

Join DailyFX on Demand for Real-Time SSI Updates!

Gold Hits Fresh Monthly High- USD Bulls Banking on Fed Minutes?

--- Written by David Song, Currency Analyst

To contact David, e-mail 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.