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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
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
USD/JPY
Bullish
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
  • Sellers continue to attempt to bring the DAX 30 lower, but strong support halts the culmination of the H&S pattern. Get your #DAX market update from @HathornSabin here:https://t.co/7zzpnocB7C https://t.co/F2AizbhI8Y
  • NY Federal Reserve GDP Nowcast is raised to 8.68% from 8.3% last week. #Fed $USD
  • $AUDCAD has continued to weak today, now trading around the 0.9800 level. The pair is down almost 200 pips from the multi-year highs hit just shy of the 1.0000 level yesterday. $AUD $CAD https://t.co/hffaXojF5j
  • $Gold trying to build a base off of that 1725 level - one minute chart so super small sample size. but that bearish run was aggressive $GC $GLD https://t.co/USjAU0lcig https://t.co/uubVG4Jpe2
  • Now up 40 handles from the $SPX's stalled break down. Looks like we are in for yet another interesting, intraday volatility day
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.19% 🇯🇵JPY: -0.33% 🇪🇺EUR: -0.41% 🇨🇦CAD: -0.45% 🇳🇿NZD: -1.11% 🇦🇺AUD: -1.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/e6FkqKIOLF
  • - There’s No Fundamental Justification For A Tightening Of Nominal Bond Yields At The Long End - Governing Council Should Instruct Board At March 11 Meeting To Fight Unwarranted Tightening Of Financing Conditions
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: US 500: -0.17% Germany 30: -0.70% Wall Street: -0.85% France 40: -1.46% FTSE 100: -2.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/rgg0WIgTxK
  • ECB's Stournaras says ECB should accelerate PEPP purchases
  • Another brutal day for gold as it breaks beneath prior February lows Read more - https://www.dailyfx.com/forex/market_alert/2021/02/25/Gold-Price-Plummets-as-Treasury-Yields-Soar-Where-to-Next-for-Gold.html?ref-author=phanks&QPID=917701&CHID=9 $GLD $XAU https://t.co/5qpaELXVLz
Trading Outlook for Gold & Silver Price, US Crude Oil, S&P 500 & More

Trading Outlook for Gold & Silver Price, US Crude Oil, S&P 500 & More

Paul Robinson, Strategist

Gold finally broke the wedge and trend-line we were looking at the past couple of weeks, silver got hammered from a long-term trend-line. Crude oil also broke in-line with expectations, with the U.S. contract bouncing off an important slope from July. The S&P 500 has an opportunity again to respond bullishly to negative headlines.

Technical Highlights:

  • Gold triangle, Dec 2016 trend-line broke – more weakness expected
  • US crude oil bounces off important July slope, but can it hold?
  • S&P 500 has another opportunity to prove itself

For trade ideas, forecasts, and a library of educational content, check out the DailyFX Trading Guides.

Gold triangle, Dec 2016 trend-line broke – more weakness expected

Gold finally broke free from the congestion (triangle) it had been stuck in for a few weeks. Top and bottom-side thresholds were tested thoroughly, but it was the December 2016 trend-line which finally lost the battle.

This has the path of least resistance squarely pointed lower with the lower portion of the triangle set up to act as initial resistance. There might be a short period of digestion after Friday’s nearly 2% whoosh, but don’t look for it take as long as it did last month when it plunged out of the multi-month range.

Looking to the left on the chart, unlike the prior break unfolding into the Dec ’16 trend-line, there isn’t any substantial support until the Dec ’15 trend-line and Dec ’17 low at 1236. The Friday break may be the beginning of a solid move lower in the weeks ahead.

Silver is a rough and tough picture as a longer-term triangle is continuing to build, but as we discussed with regard to speculative activity in the futures market and the way price action is unfolding, we may be in for a big move in the months ahead.

Gold Daily Chart (Path of least resistance is lower)

Gold daily chart, path of least resistance is lower

To help improve your trading, check out this guide for 4 ideas on how to Build Confidence in Trading.

US crude oil bounces off important July slope, but can it hold?

The July slope has been a focal point of ours in the past and once again it is in the spotlight as it held yesterday. The thinking on this end is that it won’t hold for long, though, but until it breaks we must respect it as support. A break below will bring into play trend-line support and the 200-day MA around the 61/60-area.

US Crude Oil Daily Chart (July slope in play again)

US crude oil daily chart, July slope in play again

S&P 500 has another opportunity to prove itself

Today, with more trade war headlines out of the U.S., the S&P 500 has another opportunity to prove itself as wanting to continue to trade higher. We’ve seen negative headlines hit the market only to watch it come back immediately, like same-day immediately. This is a sign of buyers’ willingness, but can it do it again today into tomorrow?

The gap-down will put a 7-week trend-line to the test and possibly the ~2742 area as well. A gap-down and rally would keep the bullish sequence in order, while a failure and sell-off would indicate that market sentiment is turning and we could see the market in the days ahead turn further south towards a very important test of the February 2016 t-line/200-day MA.

S&P 500 Daily Chart (Testing longs’ resolve)

S&P 500 daily chart, testing longs' resolve)

Resources for Index & Commodity Traders

Whether you are a new or an experienced trader, DailyFX has 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.

DISCLOSURES