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. See our updated Privacy Policy here.



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
More View more
Real Time News
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Gold Prices Test $1800 Ahead of Fed Meeting, Real Yields Fall
  • The Hang Seng Tech index tumbled 5.4% amid intensified fears about China's regulatory risk on various sectors. - Tencent (-6.2%) - Alibaba (-5.0%) - Meituan (-13.9%) - Hang Seng Index (-2.5%)
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.33%, while traders in Wall Street are at opposite extremes with 79.17%. See the summary chart below and full details and charts on DailyFX:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.16% 🇬🇧GBP: 0.05% 🇪🇺EUR: 0.00% 🇦🇺AUD: -0.02% 🇨🇭CHF: -0.03% 🇳🇿NZD: -0.06% View the performance of all markets via
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.12% FTSE 100: -0.02% Germany 30: -0.04% US 500: -0.16% Wall Street: -0.16% View the performance of all markets via
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • China considers levies on steel exports to tame domestic prices - BBG
Gold Prices Clear Monthly Opening Range & Initiate Bullish Series

Gold Prices Clear Monthly Opening Range & Initiate Bullish Series

David Song, Strategist

Talking Points:

- Gold Prices Initiate Bullish Series Following Failed Test of October-Lows.

- USD/JPY Risks Further Losses as Price & RSI Snap Bullish Formations.

DailyFX TableXAU/USD

Gold prices appear to be breaking out of a near-term range, with the precious metal at risk of exhibiting a more bullish behavior as it starts to carve a series of higher highs & lows.

Bullion may stay bid ahead of the Federal Open Market Committee’s (FOMC) last 2017-meeting on December 13 as the precious metal clears the monthly opening range following the failed attempts to test the October-low ($1261).

Fed Fund Futures

Even though Chair Janet Yellen and Co. are widely anticipated to deliver a 25bp rate-hike ahead of 2018, the recent advance in the U.S. dollar appears to be losing momentum as the upcoming rotation within the FOMC dampens bets for higher borrowing costs. As a result, market participants may pay increased attention to the fresh forecasts coming out of the central bank as the Fed appears to be on course to implement three rate-hikes per year.

Gold Prices Clear Monthly Opening Range & Initiate Bullish Series

Keep in mind, the FOMC is already expected to keep the interest rate on hold in March 2018 as Chair Yellen’s tenure expires in February, and the broader shift in market behavior may continue to take shape over the coming months as the Fed runs the risk of reaching the end of its hiking-cycle ahead of schedule.

XAU/USD Daily Chart

XAU/USD Daily Chart
  • With gold prices still holding above the $1260 (23.6% expansion) region, near-term outlook for XAU/USD is becoming increasingly constructive especially as the precious metal initiate a bullish sequence; keeping a close eye on the the Relative Strength Index (RSI) as it breaks out of the bearish formation carried over from September.
  • The turn ahead of trendline support raises the risk for a break/close above the near-term hurdle around $1289 (23.6% expansion) to $1291 (50% expansion), with the next topside region of interest coming in around $1297 (23.6% retracement) to $1302 (50% retracement).
  • Need a break of the October-high ($1306) to open up the next hurdle around $1312 (61.8% expansion) to $1315 (23.6% retracement).

USD/JPY fails to preserve the narrow range carried over from the previous week, and the pair faces a growing risk of giving back the advance from the 2017-low (107.32) as both price and the Relative Strength Index (RSI) snap the bullish formations from September.

Mixed data prints coming out of the U.S. economy may continue to rattle the near-term advance in the USD/JPY as it dampens the Fed’s scope to implement higher borrowing-costs, and the U. of Michigan Confidence survey may do little to alter the monetary policy outlook as the gauge for household sentiment is expected to show a marginal increase to 100.9 from 100.7 in October.

In turn, the dollar-yen exchange rate may face a more bearish fate over the remainder of the year as U.S. Treasury yields highlight a similar dynamic and pull back from recent highs, and the

USD/JPY Daily Chart

USD/JPY Daily Chart
  • Downside targets are coming back on the radar for USD/JPY amid the string of failed attempts to close above the Fibonacci overlap around 113.80 (23.6% expansion) to 114.30 (23.6% retracement), with both price and the Relative Strength Index (RSI) threatening the upward trends carried over from September.
  • First downside region of interest comes in around 112.30 (61.8% retracement) to 112.80 (38.2% expansion) followed by 111.10 (61.8% expansion) to 111.30 (50% retracement), which sits just below the 200-Day SMA (111.74).

For more resources on popular trading indicators and tools such as the RSI, download and review the FREE DailyFX Advanced trading guides!

DailyFX Calendar

Click Here for the DailyFX Calendar

Interested in a broader discussion on current market themes and dynamics? Sign up and join DailyFX Currency Analyst David Song LIVE for an opportunity to cover potential trade setups!

--- 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.