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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Heads Up:🇯🇵 BoJ Interest Rate Decision due at 03:00 GMT (15min) Expected: -0.1% Previous: -0.1%
  • the brooding music when they get to Roxxcart in episode 2? enthralling
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 1.13% Gold: 0.60% Oil - US Crude: -0.78% View the performance of all markets via
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.09% 🇪🇺EUR: 0.08% 🇨🇦CAD: 0.06% 🇨🇭CHF: 0.02% 🇯🇵JPY: 0.01% 🇳🇿NZD: -0.08% View the performance of all markets via
  • maybe I’m biased as a former violinist but wow is @filmmusicholt’s score in #Loki unbelievable.
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 83.82%, while traders in France 40 are at opposite extremes with 78.68%. See the summary chart below and full details and charts on DailyFX:
  • Natural gas spot prices have been on the rise, recapturing a key trendline, following the EIA’s Short-Term Energy Outlook. Where can prices head from here? Find out from @FxWestwater here:
  • USD/CHF Falling Wedge Breakout Nears Target, Trend to Continue? - #USDCHF chart
  • EUR/USD IG Client Sentiment: Our data shows traders are now at their most net-long EUR/USD since Mar 26 when EUR/USD traded near 1.18. A contrarian view of crowd sentiment points to EUR/USD weakness.
Gold & Silver Price Analysis – Resistance Turns Bias Lower

Gold & Silver Price Analysis – Resistance Turns Bias Lower

Paul Robinson, Strategist

Gold/Silver technical highlights:

  • Gold trades up into 1235/40-area, finds opposition
  • Turn lower could soon have 1214/10 back in play
  • Uninspiring price action setting silver up for more losses

See where DailyFX analysts see Gold heading into year-end and the expected drivers in the Q4 Gold Trading Forecast.

Gold trades up into 1235/40-area, finds opposition

After gold broke free from the August-October trading range the targeted area of 1235/40 was finally met yesterday. The zone of resistance consists of an important low in December and of less importance the low from the summer, along with an upper parallel dating back to August.

The decline off just below 1240 was fairly swift and has the prospects of a weakness back in play. Barring a close above 1240 (paving the way towards the Dec ’15 t-line), a move back to the 1214/10 zone could soon be in store. If sellers arrive in earnest, a break below 1210 will have focus on the lower parallel from August.

From a tactical standpoint, resistance was proven yesterday as a real threat to the recent climb, and as such traders looking at making bearish bets may want to lean on this as a backstop for shorts. It may be prudent for existing longs to be cautious at this juncture, while fresh longs don’t hold good risk/reward appeal given the hurdle just in front.

Gold traders still remain quite long, check out IG Client Sentiment for details as to how this information can be used.

Gold Daily Chart (1235/40 resistance met)

gold daily chart, 1235/40 resistance met

Uninspiring price action setting silver up for more losses

Silver continues to act poorly overall, not really making any headway higher. The 14.85/15.00 area is proving difficult in the short-term, but even if it is crossed a bear-flag is building towards maturity. An undercut of the bottom-side of the pattern is seen as a reason to look for another leg lower to develop to at least last month’s low and the December 2015 low at 13.65.

Silver Daily Chart (Bear-flag building)

silver daily chart, bear-flag building

Resources for Forex & CFD Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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