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
Oil - US Crude
Wall Street
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
  • Get our analysts’ view on the key fundamentals for Oil in Q2. Download now.
  • The Bullish Cup and Handle that has been brewing in $USDTHB for some time is now on the verge of breaking higher Pushing above key resistance (around 31.606) exposes the July 2020 high at 31.858 towards peaks from the same year Learn more here -
  • No change in interest rates is expected, but the central bank could adopt a more hawkish language in response to the deteriorating inflation outlook. Get your market update from @DColmanFX here:
  • Fed's Williams: - It wouldn't be a problem if reverse repo activity increased - It is impossible to predict when the Fed will be able to reduce its bond-buying program
  • Fed's Williams: - The Fed reverse repo facility is operating perfectly - Overnight reverse repo is running perfectly
  • Fed's Williams: - The Federal Reserve is "talking about talking about" slowing asset purchases - Employers perceive a tight job market, but this does not imply full employment
  • Fed's Williams: - I predict a moderate market response to the Fed's policy meeting - Following the FOMC, there was no minor taper tantrum
  • Fed's Williams: - We see the dangers on both sides in terms of employment and price stability - Money market rates are under increasing downward pressure
  • Fed's Williams: - The average inflation target is not based on any methodology - We have taken note of the significant increase in reverse repo usage
  • Fed's Williams: - The Fed's adjustments to administered rates were about keeping the fed funds rate within the target range - Regulators should pay attention to money market funds since they have been in trouble in the past
Gold Price Outlook: XAU Prices Coil - Is Another Breakout Brewing?

Gold Price Outlook: XAU Prices Coil - Is Another Breakout Brewing?

James Stanley, Senior Strategist

Gold Price Talking Points

  • Gold prices held the bid through much of this week.
  • With another fear-based driver entering the equation, the potential for strength in Gold remains.

Gold prices began the year with a pronounced bullish move, jumping up to yet another fresh six-year-high as tensions between the US and Iran began to show. This isn’t the only bullish driver to Gold prices, of course, as the yellow metal is coming off of a year that saw prices surge by as much as 23% from the February low up to the September high. The big push point from last year appeared to be the Fed and the bank’s shift from a very hawkish stance in 2018 to a dovish stance in 2019, reversing three of the four rate hikes from the year-prior.

But as the Fed indicated that a pause was near, Gold prices settled through Q4 and began to digest that previous breakout, forcing a 38.2% pullback of the summer move. That price came into play in November and helped to set the low around 1445, at which point bulls got back to work, forcing in a series of higher-highs and higher-lows until late-December, at which point price action broke out of the bull pennant formation and continued to run until that fresh high was set on January 8th.

Since then… more digestion, with the recent swing low printing at the 1535 area that was looked at a couple of weeks ago.

Gold Daily Price Chart

gold daily price chart

Chart prepared by James Stanley; Gold on Tradingview

Another bullish driver showed up this week and this could be a difficult theme to work with. But as fear began to show around the growing Coronavirus in China, and the potential for it to spread, buyers came back to the bid to push prices higher. While fears around the US and Iran appear to have dissipated in the weeks since that fresh six-year-high, the inclusion of a new, even less predictable driver may help to bring buyers in to support in Gold, even in an environment in which the US Dollar is similarly showing strength. I had discussed this in yesterday’s webinar, as big takeaways from recent price action were strength showing in all of the USD, the JPY and Gold, indicating a hint of risk-off fear.

Nonetheless, from a price action perspective, the net outlay at the moment is yet another bout of digestion that could potentially be approached with a bullish bias. This would be garnered from the fact that horizontal resistance has held the highs this week, coming in around the 1567 level; while support has shown off of a rising trendline taken from January swing-lows.

This takes on the appearance of an ascending triangle formation, which will often be approached with the aim of bullish breakouts. The logic being that each hit at horizontal resistance has brought a lessened impact, as indicated by the rising trendline guiding the higher-lows. And given the bigger-picture backdrop of strength in Gold prices, this may eventually lead to a scenario of trend continuation in the yellow metal; with traders looking for bullish breaks of the 1567.10 resistance to open the door to bullish runs up to 1580 or, perhaps even 1600/1611.

Gold Hourly Price Chart

gold hourly price chart

Chart prepared by James Stanley

--- Written by James Stanley, Strategist for

Contact and follow James on Twitter: @JStanleyFX

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