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.

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
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/qP2PbS4dsY
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/POGWDIkqqz
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here: https://t.co/5GO9UrvO4y https://t.co/H76jNJJxU5
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/1TiEWCbJ6t
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/fN2mfHgpON
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:https://t.co/qxQwHgD9Ey https://t.co/ym73tgtHLn
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:https://t.co/HuXPXu5PFU https://t.co/ytHqOoHnxQ
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:https://t.co/OMNoNHn2vZ https://t.co/155l4SQU6P
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:https://t.co/c89gcaNhTt https://t.co/vkLRsG8KEn
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:https://t.co/JoaUMTv80S https://t.co/Hl4I8Gl7Ez
Chart Outlook for Gold, Crude Oil, S&P 500, DAX & More

Chart Outlook for Gold, Crude Oil, S&P 500, DAX & More

Paul Robinson, Strategist

Precious metals continue to be a difficult handle with gold having the 2013 trend-line to contend with as resistance, but also having support not far below. Crude oil is coiling up with the S&P 500, working towards a break at some point. DAX, FTSE, Nikkei all remain vulnerable…

Technical Highlights:

  • Gold outlook remains indecisive still with key levels above & below
  • Crude oil coiling up with risk, a break should be in store with a little more time
  • S&P 500 indecisive at this juncture, last week’s high/low on watch
  • DAX, FTSE & Nikkei remain vulnerable to more weakness

Check out the DailyFX Top Trading Opportunities for 2018 on the DailyFX Trading Guides page.

Gold outlook remains indecisive still with key levels above & below

Gold continues to remain difficult as the 2013 trend-line keeps a lid on any advances it tries to make, with a weekly close above needed to consider it a breakout. On the down-side, however, there is support down near 1300 which keeps a floor in it. Trading is expected to remain broadly choppy in the near-term, with a resolution not yet in sight.

Gold Daily Chart

gold daily price chart

Crude oil coiling up with risk, a break should be in store with a little more time

The WTI crude oil contract is trading in-line with risk (80% 1-mo correlation to SPX), and with price action coiling up we may be nearing a one-way move soon. Watch the S&P 500 as it may help provide clues as to oil’s next move. The July slope continues to be a big focal point as the ‘line-in-the-sand’; stay above and the outlook is neutral to bullish, break below and a decline looks likely to find momentum.

WTI Crude Oil Daily Chart

US crude oil daily price chart

See how current positioning in various pairs could impact their next moves on the IG Client Sentiment page.

S&P 500 indecisive at this juncture, last week’s high/low on watch

The S&P 500 is coiling up as the price swings since the record high are becoming increasingly smaller. The market could drift sideways first, though, before making a break for it one way or another. Watch last week’s high/low at 2789/647 for directional cues.

A breakout above last week’s high will quickly bring the record high back into focus, while a break below the weekly low will likely spark jitters and more selling. A breakdown would put stress on the Feb 2016 trend-line and 200-day MA, which are in nearly exact alignment at this time.

S&P 500 Daily Chart

s&p 500 daily price chart

The FTSE, DAX, and Nikkei all remain vulnerable on dips in risk as their charts are all still pointed lower and the indices sitting a lot closer to recent swing lows than highs. The S&P may weaken or move sideways while this group of major global markets probes recent lows or worse.

Resources for Index & Commodity 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

To receive Paul’s analysis directly via email – SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES