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
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
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
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.35% 🇨🇭CHF: 0.30% 🇯🇵JPY: 0.14% 🇦🇺AUD: 0.02% 🇨🇦CAD: -0.09% 🇬🇧GBP: -0.12% View the performance of all markets via
  • BoE's Bailey - We don't think higher inflation will persist - We are watching inflation very carefully - US inflation number yesterday was very high - Will watch very carefully for how much of savings are spent by households
  • BoC's Macklem: - Important to get a bounce back of all sectors - Canada is still about 700K jobs below where it should be
  • BoC's Macklem: - We do expect inflation to rise to around 3% - Increase in inflation will be temporary - Inflation to come down because some sectors still weak $CAD $USDCAD
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.22% US 500: 1.04% Germany 30: 0.09% FTSE 100: 0.05% France 40: 0.01% View the performance of all markets via
  • Hey traders! CPI figures were the highlight yesterday morning. What impact is the inflation figure having on the markets today? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇
  • Heads Up:🇬🇧 BoE Gov Bailey Speech due at 16:00 GMT (15min)
  • Read an article from Reuters about banks sharing deposit information on clients to evaluate extending credit to those with no credit score. With so much liquidity we keep pushing lending down the credit scale. I'm sure someone is already working out an APR with Bill Hwang
  • USDCAD: Since the BoC’s hawkish taper, CAD strength has been dominant with USD/CAD dropping over 4.8% and hitting a six year low. Get your $USDCAD market update from @JMcQueenFX here:
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.36% 🇨🇭CHF: 0.32% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.08% 🇬🇧GBP: -0.02% 🇨🇦CAD: -0.02% View the performance of all markets via
XAU/USD Technical Outlook: Gold Price Breakdown Testing Support

XAU/USD Technical Outlook: Gold Price Breakdown Testing Support

Michael Boutros, Strategist

Gold prices are down more than 4.4% from the July highs with a break below key support fueling an accelerated sell-off in prices. Here are the levels that matter for XAU/USD heading into the close of the week.Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

Gold Daily Price Chart (XAU/USD)

Gold Daily Price Chart

Technical Outlook: In my last Weekly Gold Forecast, we highlighted that prices were “flirting with disaster as prices were testing a critical support barrier at “1236/39- a region, “defined by the 78.6% retracement of the December lows & the 78.6% retracement and converges on basic uptrend support extending off the late 2016-low as well as the median-line of the descending pitchfork formation we’ve been tracking since the April high.”

Gold crashed below this support barrier on Tuesday with the decline breaking below the objective monthly opening range and taking daily RSI deep into oversold-territory - momentum is on the side of the bears for now. The first major support barrier is being tested here at 1214/17 where the 2017 May low / July low-day close converge on the 61.8% retracement of the late-2016 advance. Price has probed below this level today, but look for a daily close to validate with a break lower targeting the 50-line / March low-day close at 1204.

New to Trading? Get started with this Free Beginners Guide

Gold 120min Price Chart (XAU/USD)

Gold 120min Price Chart

Notes: A closer look at price action highlights this week’s break with gold trading just above the 1214/15 support barrier ahead of the New York close. Initial resistance stands at the trendline confluence at ~1230 with bearish invalidation now back at 1239. A break lower from here targets the lower 50-line around 1210 backed closely by 1204.

Why does the average trader lose? Avoid these Mistakes in your trading

Bottom line: Gold has broken key support & the monthly opening-range lows, but prices are already at initial support targets. Expecting some back-and-fill here towards the July trendline resistance / the median-line before resumption. From a trading standpoint, looking for a rebound off these levels for now- ultimately the recovery may offer more favorable short-entries in the days ahead.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

Gold Trader Sentiment

Please add a description for the image.
  • A summary of IG Client Sentiment shows traders are net-long Gold- the ratio stands at +6.22 (86.1% of traders are long) – strong bearishreading
  • Long positions are1.4% lower than yesterday and 12.8% lower from last week
  • Short positions are 14.0% lower than yesterday and 4.9% higher from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Traders are more net-long than yesterday but less net-long from last week and the combination of current positioning and recent changes gives us a further mixed Spot Gold trading bias from a sentiment standpoint.

See how shifts in Gold retail positioning are impacting trend- Learn more about sentiment!


Economic Calendar - latest economic developments and upcoming event risk

Other Setups in Play

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at

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