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
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • Heads Up:🇩🇪 Inflation Rate MoM Prel (JAN) due at 13:00 GMT (15min) Expected: 0.4% Previous: 0.5%
  • Heads Up:🇩🇪 Inflation Rate YoY Prel (JAN) due at 13:00 GMT (15min) Expected: 0.7% Previous: -0.3%
  • A forex trader is strategic, disciplined and always switched on to the markets. Learn how to build an FX mindset here:
  • 🇧🇷 Unemployment Rate (NOV) Actual: 14.1% Expected: 14% Previous: 14.3%
  • 🇲🇽 Balance of Trade (DEC) Actual: $4.154B Expected: $4.6B Previous: $3.032B
  • 🇲🇽 Balance of Trade (DEC) Actual: $6.262B Expected: $4.6B Previous: $3.032B
  • 🇧🇷 Unemployment Rate (NOV) Actual: 14.1 Expected: 14% Previous: 14.3%
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.07%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇲🇽 Balance of Trade (DEC) due at 12:00 GMT (15min) Expected: $4.6B Previous: $3.032B
  • Heads Up:🇧🇷 Unemployment Rate (NOV) due at 12:00 GMT (15min) Expected: 14% Previous: 14.3%
Gold Price Outlook: XAU/USD Drawn Like a Moth to a Flame

Gold Price Outlook: XAU/USD Drawn Like a Moth to a Flame

Nick Cawley, Strategist

Gold Price (XAUUSD) Analysis, Price and Chart

  • Gold has rallied 19% since March despite two corrective sell-offs.
  • A further break higher may be being set-up.
Top Trading Lessons
Top Trading Lessons
Recommended by Nick Cawley
Find Out The #1 Mistake Traders Make
Get My Guide

Gold Eyes $1,747/oz. as Bullish Momentum Continues

The strong upward trend shown on the daily chart is seemingly intact and offers hope for a new seven-and-a-half high if confirmed. A short-term pattern of higher lows in the last four days and the seemingly magnetic pull from the trendline off the March 19 low confirms that buyers remain firmly in control of the market for now. Friday’s price action is muted compared to the previous four days with the spot price attempting to break back above trend for the first time in over a week.

If this break higher happens, gold will be touching the April 14 recent high. A break and close above $1,747.7/ox. would suggest that the October 2012 high at $1,796/oz. is the next technical level of resistance. All three moving averages are supportive and while gold may be entering oversold territory, using CCI, it is still significantly lower than the recent peak made on April 14.

A word of caution needs to be introduced despite the positive sentiment in the market. The spot price while drawn to trend has been unable to break and close higher this week. Further refusals at this trendline may suggest buyer exhaustion after the recent sharp rally and a retrace back to the $1,703/oz. to $1,707/oz. zone may be seen. Traders should continue to monitor the US dollar and overall market risk sentiment as additional signals to gold’s short-term future.

How to Trade Gold: Top Gold Trading Strategies and Tips

Gold Daily Price Chart (October 2019 – April 24, 2020)

Gold Daily Price Chart
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 Gold? Understanding Gold as a Trading Commodity

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.