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
EUR/USD
Mixed
Oil - US Crude
Bullish
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.02% 🇯🇵JPY: 0.00% 🇨🇭CHF: -0.14% 🇪🇺EUR: -0.27% 🇦🇺AUD: -0.31% 🇨🇦CAD: -0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8V1MBXTus6
  • This will be my last week hosting this webinar for the time being and we'll finish it up with a look at $NZDUSD https://t.co/ssGJfuaxFg
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.55% France 40: -0.49% US 500: -0.87% FTSE 100: -1.18% Wall Street: -1.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WkTdltLy6Y
  • Heads Up:🇲🇽 Monetary Policy Meeting Minutes due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-09
  • Harley Davidson will reportedly eliminate about 700 positions globally, impacting approximately 500 current employees $HOG Harley is yet another addition to the growing list of #covid related layoffs
  • Florida virus cases increase 4% vs prior 5% 7-day average - BBG
  • The Euro #Stoxx 50 has failed to sustain a break above the 200DMA, signalling signs that upside in the index may be stalling in the short-term. Get your markt update from @JMcQueenFX here: https://t.co/tPsbDcOYqN https://t.co/kT6iLncXjq
  • Secretary Mnuchin says PPP program would be more targeted if extended - BBG
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.39% Gold: 0.17% Oil - US Crude: -2.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/iRyAVGGNBC
  • 🇺🇸 Wholesale Inventories MoM (MAY) Actual: -1.2% Expected: -1.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-07-09
Gold Targeting 1300 Mark, Crude Oil Aiming to Extend Recovery

Gold Targeting 1300 Mark, Crude Oil Aiming to Extend Recovery

2015-01-19 04:30:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar Remains Locked in Familiar Consolidation Range
  • S&P 500 Rebounds After Finding Support Below 2000 Figure
  • Gold Targeting $1300, Crude Oil Breaks Channel Resistance

Can’t access the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices are struggling with downside follow-through having topped as expected. A daily close below the 14.6% Fibonacci retracementat 11599 exposes the 23.6% level at 11527. Alternatively, a reversal above the 23.6% Fib expansion at 11699 opens the door for a challenge of the 38.2% threshold at 11796.

Gold Targeting 1300 Mark, Crude Oil Aiming to Extend Recovery

Daily Chart - Created Using FXCM Marketscope

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

S&P 500 TECHNICAL ANALYSIS – Prices declined as expected after putting in a bearish Evening Star candlestick pattern. A daily close below the 38.2% Fibonacci retracement at 1988.00 exposes the 50% level at 1955.80. Alternatively, a turn back above the 23.6% Fib at 2028.00 aims for the January 9 high at 2068.60.

Gold Targeting 1300 Mark, Crude Oil Aiming to Extend Recovery

Daily Chart - Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices appear poised to continue higher after rising to the strongest level in over four months. A daily close above the 123.6% Fibonacci expansion at 1300.39 exposes the 138.2% level at 1316.16. Alternatively, a turn back below the 100% Fib at 1274.89 targets the 1249.39-55.20 area marked by the 76.4% expansion and the October 21 high.

Gold Targeting 1300 Mark, Crude Oil Aiming to Extend Recovery

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices are attempting to recover as expected. A daily close above the 14.6% Fibonacci retracement at 50.49 exposes the 23.6% level at 53.77. Alternatively, a reversal below channel top resistance-turned-support at 48.25 targets the January 13 low at 45.17.

Gold Targeting 1300 Mark, Crude Oil Aiming to Extend Recovery

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES

News & Analysis at your fingertips.