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
More View more
Real Time News
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here:
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • What is your forex trading style? Take the quiz and find out:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here:
Gold Prices and US Dollar Pause Ahead of FOMC

Gold Prices and US Dollar Pause Ahead of FOMC

Walker England, Forex Trading Instructor

Talking Points:

  • Gold Prices and the US Dollar Take a Pause Ahead of FOMC
  • US Dollar Bullish Breakouts Begin Above 101.54
  • Bearish Breakouts for Gold Prices are Identified Beneath $1,157.30

Gold prices and the US Dollar (Ticker: DXY) continue to consolidate, as the market fundamentally begins to focus on next week’s FOMC rate decision. The event is critical because rates are expected to rise for the first time since December 2015. Even though a hike would only bring expected rates to 0.50%, this move in policy could drastically affect commodities such as gold that are prices in Dollars.

US Dollar Daily Chart and Inside Bar

Gold Prices and US Dollar Pause Ahead of FOMC

(Created Using TradingView Charts)

What’s next for the US Dollar? Read Our Dollar Market Forecast HERE

Technically, the US Dollar Index (Symbol DXY) is set to conclude today’s trading with the creation of an inside bar. Prices have yet to trade above yesterday’s high of 101.54 or below yesterday’s low of 99.85 to complete this pattern. While this pattern is considered a consolidating pattern, traders may use these points to plan the US Dollars next major breakout. A move above resistance at 101.54 should be considered significant as it would put the US Dollar back on track to resume its primary daily uptrend. However a breakout below support may signal a larger bearish retracement for the Index.

Gold Price Daily Chart and Inside Bar

Gold Prices and US Dollar Pause Ahead of FOMC

(Created Using TradingView Charts)

Looking for additional trade ideas for Gold and commodities markets? Read Our Gold Market Forecast

Gold prices are trading in a similar pattern, by also failing to establish a new daily high or low. Gold prices traded to a new daily low yesterday, which creates a barrier of support at. Alternatively the daily high for Monday’s trading may be used as a point of resistance at $1,188.10. A bearish breakout in Gold prices may be synonymous with a bullish breakout in the US Dollar. A move of this nature may set the commodity up to retest 2016 lows at $1,061.25. In the event of a bullish breakout, Gold prices may begin to retrace more of the bearish decline which has been developing since the July 2016 high was put in place at $1,375.12.

--- Written by Walker, Analyst for

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at hisBio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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