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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Wall Street
Bearish
Low
High
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
  • (AUD Weekly Tech) Australian Dollar May Wilt, Downtrends Resume: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/09/19/Australian-Dollar-May-Wilt-Downtrends-Resume-AUDUSD-AUDJPY-AUDNZD-AUDCAD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/DedoOKJMXh
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/GQB0ic9Ahe
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/lx3cMSpZNc
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today: https://t.co/XtydfUNW0y https://t.co/n4NXZUovb0
  • Scoping out next week for trading the market, there are a range of high profile influences including September PMIs, Evergrande and a range of central bank decisions. Top listing on my docket is the #FOMC with my scenarios below. Full analysis: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/18/SP-500-and-Dollar-on-the-Hook-for-Breaks-with-Evergrande-Fed-and-September-Trade-Ahead.html https://t.co/ZdoMJS9fp5
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/Q3Yfe6TMLw
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/6inC94w5K4
  • All eyes on the Fed on Wednesday as investors weigh on chances of a taper announcement. Get your weekly equities forecast from @HathornSabin here: https://t.co/Cv06XcvldF https://t.co/I12g2YPkdE
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/KsPiWBysiR
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/iUvhLfQgcK
Technical Forecast for Gold, Silver Prices & Equity Indices

Technical Forecast for Gold, Silver Prices & Equity Indices

Paul Robinson, Strategist

Enjoy the video? Join Paul Tuesday-Friday each week – for details, see the Webinar Calendar.

Precious metals are in a precarious position after both gold and silver dropped through the lower parallel of a bullish channel extending back to the July low. Gold has room to move lower before a test of substantial support takes place around 1296, while silver is currently sitting on solid support in the low-17s. The futures market shows large speculators having snatched up contracts at a rapid pace in recent weeks, which is viewed as a headwind for the metals moving forward. Even if we see a bounce it may not be sustainable until we see further weakness or a time correction unfold.

The recent decline in copper brings it back to an area of support that started as far back as the spring of 2015, but isn’t showing much life after trading slightly below a trend-line rising up since June. On a break below 2.93 the next level of support we’ll look to is 2.87.

Check out this new trading guideBuilding Confidence in Trading.

Crude oil continues to be a challenge, and for the most part a market on the ‘stay away’ list. It still has potential to be putting in a long-term rounding top, but recent price action suggests it still may want to trade higher to a major level of resistance around 51.50.

U.S. indices continue to look solid, with the 2515/25 area as the spot we’re looking for the S&P 500 to trade up to soon. The Nasdaq is building a triangle after not long ago breaking out of a bull-flag; ~6100 is the next eyed level where a top-side trend-line lies from June. The DAX & CAC recently crossed above major thresholds and continue to look poised for higher prices. The FTSE 100, on the other hand, broke through the important 7300-level last week and is on the ‘sell’ list on a retest of old support. The Nikkei 225 is finally getting into gear with a big showing last night of nearly 2%. A clean close above the year high in June opens up a path towards the 2015 high just shy of 21k.

For full technical considerations, please see the video above…

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES