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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
Low
High
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
Wall Street
Mixed
Low
High
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:https://t.co/c89gcaNhTt https://t.co/AyIyZ4xpjQ
  • US daily Covid-19 new cases have fallen to 133,913 on January 25th, marking the lowest reading since November 15th. The 7-day moving average of daily cases has also been declining with the rollout of coronavirus vaccines. https://www.dailyfx.com/forex/market_alert/2021/01/27/Nasdaq-Poises-to-Rise-with-Hang-Seng-ASX-200-Apple-Earnings-in-Focus.html https://t.co/bn5cYen2i2
  • Apple, Facebook, Tesla advanced in afterhours trade before their earnings release on Wednesday. Here are the EPS forecasts: - Apple: EPS $1.43 (+13.6% YoY) - Facebook: EPS $3.54 (+38.2% YoY) - Tesla: EPS $1.01 (+505.7% YoY)
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (DEC) due at 01:30 GMT (15min) Previous: 2.4% https://www.dailyfx.com/economic-calendar#2021-01-27
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your market update from @ddubrovskyFX here:https://t.co/PfV9MCIvw1 https://t.co/iLTliBJaXG
  • Wall Street Futures Update: Dow Jones (+0.04%) S&P 500 (+0.09%) Nasdaq 100 (+0.47%) [delayed] -BBG
  • The Bitcoin/Ethereum ratio’s break to its lowest levels since August 2018 suggests that ETH may continue to outperform BTC in the coming weeks. Key levels to watch for Bitcoin and Ethereum. Get your $btc market update from @DanielGMoss here:https://t.co/mo3rw7bP4v https://t.co/qKJMkhbdkN
  • Overlooked this past session given the extreme volatility in heavily shorted US stocks: the PBOC warned of an asset bubble as it drained liquidity; the IMF said Biden's $1.9 tln stimulus could add 5ppt GDP to the US over 3 years and ECB made a thinly veiled threat over $EURUSD
  • 🇦🇺 Inflation Rate QoQ (Q4) Actual: 0.9 Expected: 0.7% Previous: 1.6% https://www.dailyfx.com/economic-calendar#2021-01-27
  • 🇦🇺 Inflation Rate YoY (Q4) Actual: 0.9% Expected: 0.7% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-01-27
Gold Price Slides on Renewed Risk Appetite, Unable to Break Trend Resistance

Gold Price Slides on Renewed Risk Appetite, Unable to Break Trend Resistance

Nick Cawley, Strategist

Gold Price (XAUUSD) Analysis, Price and Chart

  • Gold unable to test multi-year highs.
  • 20-day moving average is being probed.
Top Trading Lessons
Top Trading Lessons
Recommended by Nick Cawley
Find Out The #1 Mistake Traders Make
Get My Guide

Gold Sentiment Dampened by Revitalized Risk Appetite

The price of gold is trading either side of $1,700/oz. as risk markets continue to turn higher. The gradual unwinding of coronavirus lockdown measures announced in Europe has cheered equity markets, while the US money printing machine may soon go into overdrive, if commentary by the Speaker of the House is acted on. Speaker Nancy Pelosi said yesterday that it may be time to consider a guaranteed minimum income during the coronavirus outbreak, getting money to where it is needed the most.

The economic calendar is full to the brim with potential market moving data for the rest of the week, starting with US consumer confidence later today with the market expecting a sharp downturn to 88 from last month’s reading of 120. On Wednesday, a combination of US Q1 Q/Q GDP, expected at -4.0% and the latest FOMC meeting will have the ability to move the US dollar and gold.

DailyFX Economic Calendar

The daily chart shows gold unable to break back above the late-March trendline despite repeated attempts last week. This week’s Gold Technical Forecastnoted the magnetic effect of the uptrend but warned that further refusals at this trendline may suggest buyer exhaustion. A series of lower highs over the past four days points to a weakening market with a break above $1,728/oz. needed to negate this. Gold has respected support off the 20-day moving average this month and today’s test continued this trend. A break and close below here may suggest further downside.

How to Trade Gold: Top Gold Trading Strategies and Tips

Gold Daily Price Chart (November 2019 – April 28, 2020)

chart showing the price of gold falling
How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Nick Cawley
Improve your trading with IG Client Sentiment Data
Get My Guide

What is your view on Gold – are you bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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

DISCLOSURES