collected by :kiven Dixter
Here are the levels that matter for XAU/USD heading deeper into June trade. Review this week's Strategy Webinar for an in-depth breakdown of this setup and more. Gold Daily Price Chart (XAU/USD)Technical Outlook: In last week's Gold Technical Outlook, we noted a bearish bias, "sub-1266 with near-term bearish invalidation up at the objective weekly opening-range highs at 1272. Avoid these Mistakes in your tradingBottom line: Gold has responded to key weekly support and the immediate focus is on the June opening range with the broader downtrend at risk near-term while above 1236. See how shifts in Gold retail positioning are impacting trend- Learn more about sentiment!
Here are the levels that matter for XAU/USD heading deeper into June trade. Review this week's Strategy Webinar for an in-depth breakdown of this setup and more. Gold Daily Price Chart (XAU/USD)Technical Outlook: In last week's Gold Technical Outlook, we noted a bearish bias, "sub-1266 with near-term bearish invalidation up at the objective weekly opening-range highs at 1272. Avoid these Mistakes in your tradingBottom line: Gold has responded to key weekly support and the immediate focus is on the June opening range with the broader downtrend at risk near-term while above 1236. See how shifts in Gold retail positioning are impacting trend- Learn more about sentiment!
Technical Outlook for GBP/USD, EUR/USD, Gold Price & More (Video)
GBP/USD is reeling at the moment and has support just above 13000 under assault, while EUR/USD is continuing to coil up for what looks like will be an eventual bearish break. Gold broke a long-term trend-line yesterday and on that is poised for further losses. Technical Highlights:GBP/USD testing support above 13000EUR/USD wedge building above 11500Gold price broke big support, heading lowerWe just released fresh quarterly forecasts, to see our fundamental and technical insights on major markets and currencies, check out the DailyFX Q3 Forecasts. GBP/USD testing support above 13000It's been a rough past couple of days for GBP/USD, cementing another lower-high and possibly lower-low in a sequence which continues to bode poorly for the pair. EUR/USD Daily Chart (Wedge building…)Check out the Q3 Euro Forecast for a broader fundamental and technical viewGold price broke big support, heading lowerThis morning, we discussed gold (&silver) in detail, pointing out the importance of breaking the 2015 trend-line/December low.XAU/USD Technical Outlook: Gold Price Breakdown Testing Support
as mentioned in 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. 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. Get started with this Free Beginners GuideGold 120min Price Chart (XAU/USD)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. A break lower from here targets the lower 50-line around 1210 backed closely by 1204. Avoid these Mistakes in your tradingBottom line: Gold has broken key support & the monthly opening-range lows, but prices are already at initial support targets.Gold Price at Support; Technical Outlook for Crude Oil, DAX & S&P 500
Several major markets are at or very near major long-term trend-lines or levels. Gold is at a 3-year trend-line, crude oil is approaching a 10-year trend-line, and the DAX & S&P 500 are both at 2.5-year bull-market thresholds. A break could lead to a sizable decline, especially if the S&P 500 breaks its own major bull-market thresholds. DAX Daily Chart (Feb '16 t-line, H&S neckline below)The S&P 500 has not only the February 2016 trend-line just at its feet, but running in confluence is the widely-watched 200-day MA. S&P 500 Daily Chart (4th test looks near, can it pass?)
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