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
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
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Chinese property development company Sinic Holdings (2103) - Down 87%...@DailyFXTeam #contagion #Evergrande
  • 🇪🇸 Balance of Trade (JUL) Actual: €-1.60B Previous: €-0.98B
  • Heads Up:🇪🇸 Balance of Trade (JUL) due at 08:00 GMT (15min) Previous: €-0.98B
  • Fitch on China Property Developers - View will turn negative if sales in H2 21 fall below that achieved in H2 19 and/or if sharp fall follows through to H1 22 - Government policies in sector remain tight and show no sign of imminent loosening
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • (USD Weekly Tech) US Dollar Dominant Uptrend Back In Focus: EUR/USD, USD/JPY, NZD/USD, USD/CHF
  • What is your forex trading style? Take the quiz and find out:
  • Join @IlyaSpivak at 22:00 EST/2:00 GMT for his cross-market weekly outlook webinar. Register here:
Gold Prices – Long Term Contraction Continues

Gold Prices – Long Term Contraction Continues

Paul Bratby, Trade the Fifth,

gold prices squeeze inside triangle pattern

Gold prices have been in a contracting bullish range since the pivot low formed in December 2015. The monthly chart below suggests the pivot low was an Elliott Wave 4 pullback. The lower trend line going back some 10 years has been respected during this recent contraction period.

Gold has had difficulty overcoming $1370 despite the recent strength with equities. Therefore, a strong level of resistance at the horizontal line can be viewed on the monthly chart below.

It is possible to view an ascending triangle chart pattern forming over the last few years with that horizontal resistance level and the rising trendline. Typically, the price breaks out in the same direction as the trend that was in place just prior to the triangle forming. In this case, we could say that the wave 4 low could be tested again.

This assumption is not always the case and I am looking at equity indices making new highs but not with heavy volume. This combined with inflation worries in the United States coupled with the Fed likely to raise interest rates in June, could be a catalyst for a bearish correction in the stock markets.

If this happens, gold prices may react positively as investors seek to reduce stock holdings and invest in gold for safety. This could be the catalyst for XAUUSD to finally break through $1370 with enough momentum towards our 5th wave target at $2150 (blue zone on chart below). This is backed up with the divergence being shown on our Elliott Wave Oscillator over this longer-term period as can be seen on the monthly chart below.

(Understand a little more how the MT4 Elliott Wave Indicator Suite works here)

gold price analysis using longer term trends.

you might be interested in…

Trading the gold-silver ratio

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