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
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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.88% Silver: 0.43% Oil - US Crude: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/s7unTde0G5
  • The #FTSE 100 surged to its highest level since early June on Wednesday after the equity index pierced a longstanding technical barrier around 6,200. Get your #FTSE market update from @PeterHanksFX here:https://t.co/uFaYFaPGz2 https://t.co/mNnlGDksJn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.30%, while traders in US 500 are at opposite extremes with 76.93%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kZcqWecOdG
  • The $EURUSD's climb continues at an exceptional pace. It is on course for the biggest three-week rally since May 2015 (the bottoming after the 2014 collapse) https://t.co/AbDLQ07D95
  • ECB's Lagarde says we are at low point of this crisis today - BBG
  • US Treasury Yields: 2-Year: 0.194% 3-Year: 0.250% 5-Year: 0.400% 7-Year: 0.633% 10-Year: 1.393% 30-Year: 1.626% $TNX
  • Wonder when this’ll reverse 🤔 Highly recommend checking this piece out ⬇️ https://t.co/lrQDt3oLDZ
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.02% FTSE 100: 0.01% Wall Street: 0.01% Germany 30: -0.09% France 40: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lVtLGVVPJs
  • BOC's Gravelle says inflation targeting is not impeded by size of balance sheet $USDCAD
  • Bitcoin declined to a four-week low at $7,598 then reversed higher and closed later the weekly candlestick in the green with a 2.5% gain. Get your $BTC technical analysis from @malkudsi here: https://t.co/JLTBNlX1Wp https://t.co/r60ZMMsDjC
Gold Breaks 2015 Downward Trend- Eyes August Highs

Gold Breaks 2015 Downward Trend- Eyes August Highs

2015-09-24 16:30:00
David Song, Strategist

Talking Points:

- Gold Breaks Out of 2015 Downward Trend- Eyes August Highs.

- USD/JPY Risks Further Losses Despite Slowing Japan Consumer Price Index (CPI).

- USDOLLAR Range Remains in Focus Amid Ongoing Mixed U.S. Data.

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


XAU/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • With Gold prices breaking out of the downward trend from earlier this year, the precious metal may work its way back towards the August high ($1170) especially as the Relative Strength Index (RSI) retains the bullish formation from July.
  • Despite the key themes that drive demand for bullion, market participants may continue to treat Gold as a commodity rather than a currency amid the disinflationary environment across the major industrialized economy accompanied by higher rate expectations for the U.S.
  • DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long XAU/USD since late-August, but the ratio has come off of recent extremes as it narrows to +1.13, with 53% of traders long.


USD/JPY Daily Chart
  • Even though USD/JPY continues to consolidate within wedge/triangle formation, may see a failure to preserve the monthly opening range on a close below near-term support around 119.60 (38.2% retracement) to 119.80 (100% expansion).
  • With expectations for a slowdown in Japan’s Consumer Price Index (CPI), signs of weaker price growth may fuel speculation for a further expansion of the Bank of Japan’s (BoJ) asset-purchase program at the October 30 interest rate decision, but risk trends continue to dictate price action going into October as market participants weigh the outlook for monetary policy.
  • The bearish RSI continues to highlight the risk for a further decline in USD/JPY, with a break of the monthly low (118.58) opening the door for a move back towards 118.20 (23.6% retracement) to 118.30 (78.6% expansion).

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

Read More:

Price & Time: USD/CAD - Big Fibonacci Test Looms

Macro Musings: Who Thought The Fed Would Raise Rates in 2015?

USDOLLAR(Ticker: USDollar):





Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index






Gold Breaks 2015 Downward Trend- Eyes August HighsUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar may continue to consolidate going into the end of the month as there appears to be a failed test of the monthly high (12,095); may trade within a broad range over the near-term as the RSI remains capped by the bearish formation carried over from back in May.
  • Even though the Fed keeps the 2015 liftoff on the table, the ongoing mixed batch of data coming out of the U.S. economy raises the risk for a more delayed normalization cycle amid the growing concerns surrounding the global economy; any meaningful revisions to the final 2Q Gross Domestic Product (GDP) may spark increased volatility for the greenback amid expectations for a December rate-hike.
  • Failure to break 12,082 (61.8% expansion) along with the monthly high at 12,095 may spur a larger pullback, with the Fibonacci overlap around 11,951 (38.2% expansion) to 11,965 (23.6% retracement) coming back on the radar.

Join DailyFX on Demand for Real-Time SSI Updates!

Gold Breaks 2015 Downward Trend- Eyes August Highs

--- 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.