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
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
  • 🇨🇭 Unemployment Rate (JUL) Actual: 3.2% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-10
  • Heads Up:🇨🇭 Unemployment Rate (JUL) due at 05:45 GMT (15min) Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-10
  • The US Dollar is testing key support levels against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah following persistent losses. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qqYDELqydd https://t.co/WPUL1SO8Fv
  • - #USDollar may catch a haven bid as the US and China lock horns over technology - #TrumpExecutiveOrders may encounter congressional friction, spark dash to cash - #bidenvppick announcement could fail to stir markets unless the choice is unexpected https://www.dailyfx.com/forex/fundamental/article/special_report/2020/08/10/US-Dollar-Comeback-Ahead-US-China-Tensions-Push-Havens-Higher.html
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.01%, while traders in US 500 are at opposite extremes with 77.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AB97lqEJQB
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇳🇿NZD: 0.13% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.08% 🇨🇦CAD: 0.05% 🇨🇭CHF: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ThG7IBzIKu
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.67% France 40: 0.66% Germany 30: 0.60% Wall Street: 0.23% US 500: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2l1TvwiW5l
  • The Indian Rupee struggled to benefit from an unexpected RBI rate hold as the Nifty 50 inched closer to invalidating a bearish reversal signal. What is the road ahead for USD/INR? Find out from @ddubrovskyFX here:https://t.co/Zjiay6hQWT https://t.co/IdM8hb6pI1
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/TJbPf8arC3
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.26% Gold: -0.27% Silver: -1.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4Ap99p4ATh
Gold Prices Sink to Deeper Support, is More Pain to Follow?

Gold Prices Sink to Deeper Support, is More Pain to Follow?

2016-08-31 13:05:00
James Stanley, Strategist

To receive James Stanley’s Analysis directly via email, please sign up here.

Talking Points:

  • Gold Technical Strategy: Longer-term up-trend still alive, near-term bearish on Strong USD/higher U.S. rate expectations.
  • Gold prices are continuing to face pressure as rate hike bets further firm the Dollar.
  • If you’re looking for trading ideas, check out our Trading Guides. And if you want something more short-term in nature, check out our SSI indicator.

In our last article, we looked at the uptrend in Gold prices after having just moved down to support. But as we warned, with the Jackson Hole Economic Symposium later in the week and after numerous Fed members had already come-out to talk up higher rates, Gold prices could face further pressure as rate hike bets for the United States continued to increase.

And since Friday’s outlay of Federal Reserve dialog, USD strength has been all the vogue as markets have been pricing-in a higher probability of a rate hike from the Fed in the coming months. But this isn’t the first time that this has happened is it? Even this year, we’ve seen a very similar scenario play-out in April/May after the Federal Reserve a) posed a less dovish statement at their non-press conference rate decision and b) saw a continuation of hawkish dialog after the meeting as multilpe Fed members talked up higher rates. Gold prices have swung along with these rate expectations; with more than $100 coming off in the month, bouncing off of a key support level at $1,200 before ascending to fresh 2-year highs.

With USD-strength showing prospects of continuation, Gold prices may be in for a deeper retracement before bullish positions become attractive again. In our last article, we outlined three different support zones to watch for price action to move towards. These support levels integrate a Fibonacci retracement that can be found by charting the major move from the swing-low of $1,250.11 to the high of $1,375.04. The 50% retracement of this move at $1,312.57 had provided prior support in the month of July, and now price action is in the process of sliding below this level.

This highlights deeper support levels for potential top-side reentries should this current bout of USD-strength continue. At the level of $1,297.59 we have the 61.8% retracement of that same major move, and with the psychological level at $1,300, this could produce a ‘zone’ of support for traders to watch. And just below that, we have another confluent zone of support with two different Fibonacci levels around the ~$1,280 area.

Gold Prices Sink to Deeper Support, is More Pain to Follow?

Created with Marketscope/Trading Station II; prepared by James Stanley

--- Written by James Stanley, Analyst for DailyFX.com

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Contact and follow James on Twitter: @JStanleyFX

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


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.