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
Please try again
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
  • Sri Lankan central bank standing lending rate unchanged at 5.5%, standing deposit rate unchanged at 4.5%- BBG
  • US macro data were largely mixed overnight, with the initial jobless claims showing further weakness while durable goods orders beat expectations. The weekly jobless claim report registered 778k for the week ending Nov 21, marking a fifth-week high (chart below).
  • Singapore's Straits Times Index might be vulnerable to a technical pullback after rising more than 19% in November. An immediate support level can be found at 2,800.
  • Gold and silver prices have come under significant pressure recently. However, this correction lower could prove short-lived as price analysis hints at a reversal higher. Get your $XAUUSD market update from @DanielGMoss here:
  • Australian Dollar to Rise as Easing Border Restrictions Buoy Sentiment - $AUD $AUDJPY $AUDUSD
  • 🇰🇷 Interest Rate Decision Actual: 0.5% Expected: 0.5% Previous: 0.5%
  • Bank of Korea: 2020 GDP growth seen at -1.1% versus -1.3% projected in August, 2021 GDP growth seen at 3.0% versus 2.8% anticipated prior -BBG
  • Heads Up:🇰🇷 Interest Rate Decision due at 01:00 GMT (15min) Actual: 0.5% Expected: 0.5% Previous: 0.5%
  • 7 out of 11 Dow Jones sectors ended lower, with about 63.3% of the index’s constituents closing in the red. Energy (-3.64%) , materials (-2.25%) and communication services (-1.24%) were among the worst performers on Wednesday.
  • Australian Private Capital Expenditure -3.0% in Q3 vs -1.5% expected and from -6.4% in Q2 (revised worse from -5.9%), $AUDUSD little changed so far -BBG
Gold Prices Break Monthly Opening Range, Eyes June-High ($1296)

Gold Prices Break Monthly Opening Range, Eyes June-High ($1296)

2017-08-09 15:32:00
David Song, Strategist

Talking Points:

- Gold Prices Break Monthly Opening Range, Eyes June-High ($1296).

- Nikkei Initiates Bearish Sequence as Continuation Pattern Unravels.

- Sign Up for the DailyFX Trading Webinarsfor an opportunity to discuss potential trade setups.

DailyFX Table





Daily Change ($)

Daily Range ($)







Gold prices may exhibit a more bullish behavior over the coming days as the precious metal breaks the August opening range and climbs to a fresh monthly high of $1276.

For Additional Resources, Download the DailyFX Trading Guides and Forecasts

Market participants appear to be turning risk adverse amid the weakness in global benchmark equity indices, and the mixed price action surrounding the U.S. dollar may continue to prop up gold prices as a flight to quality appears to be taking shape. In turn, bullion may make a more meaningful attempt to break out of the downward trend from July-2016, but a failed attempt to test the June-high ($1296) may undermine the near-term recovery in gold prices should a head-and-shoulders formation take shape.

XAU/USD Daily Chart

XAU/USD Daily Chart

Chart - Created Using Trading View

  • Topside targets remain in focus for XAU/USD as it clears the monthly opening range, with a break/close above $1279 (38.2% retracement) opening up the next hurdle around $1288 (23.6% expansion) followed by the Fibonacci overall around $1297 (23.6% retracement) to $1302 (50% retracement).
  • Keeping a close eye on the Relative Strength Index (RSI) as it comes up against trendline resistance, with a break of the bearish formation raising the risk for a run at the June-high ($1296).
  • Nevertheless, failure to clear the topside hurdles will keep the broader outlook tilted to the downside; failure to hold above the $1250 region may spur a move back towards the overlap around $1211 (50% retracement) to $1219 (61.8% retracement).





Daily Change

Daily Range







The Nikkei (JPN225) has finally snapped the continuation pattern from earlier this year, with Japanese equities at risk for further losses amid growing tensions between the United States and North Korea.

The near-term shift in market behavior may gather pace over the coming days as U.S. President Donald Trump takes a more aggressive stance, and the rise in geopolitical risk may continue to drag on risk sentiment as it dampens the outlook for global growth. In turn, JPN225 may trade to fresh monthly lows as it initiates a bearish sequence, with the benchmark index at risk of facing a larger correction if it fails to preserve the upward trend carried over from 2016.

JPN225 Daily Chart

JPN225 Daily Chart

Chart - Created Using Trading View

  • The sharp decline in JPN225 appears to have stalled ahead of the 19,640 (78.6% retracement) hurdle, which largely lines up with the 100-Day SMA (19,641), but the Relative Strength Index (RSI) appears to be flashing a bearish trigger as is trades back below former-trendline resistance.
  • As a result, a further decline in the benchmark equity index may spur a test of the bullish trend from June 2016, with the next downside target coming in around 19,450 (23.6% expansion) followed by the Fibonacci overlap around 19,280 (23.6% retracement) to 19,330 (23.6% retracement), which sits just above the 200-Day SMA (19,266).

Retail FX Sentiment

Spot Gold Sentiment

Track Retail Sentiment with the New Gauge Developed by DailyFX Based on Trader Positioning

  • Retail trader data shows 70.2% of traders are net-long spot Gold with the ratio of traders long to short at 2.36 to 1. The number of traders net-long is 1.6% higher than yesterday and 1.5% lower from last week, while the number of traders net-short is 22.4% lower than yesterday and 1.3% lower from last week.
DailyFX Calendar

Click Here for the DailyFX Calendar

--- 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.

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