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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • (Weekly Outlook) Australian Dollar Outlook: AUD/USD Divergence With Wall Street Risks Continuing #AUD $AUDUSD #Fed #Stocks
  • The US Dollar steadied against most ASEAN currencies this past week. Key support levels remain in play looking at USD/SGD, USD/THB and USD/PHP. USD/IDR may rise with a new trendline. Get your market update from @ddubrovskyFX here:
  • EUR/USD has been looking toppy since late May as bearish technical signals played out. But, rising Euro short bets from retail traders hint that the currency may hold its footing. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen may rise as retail investors increase their long exposure in pairs like USD/JPY and EUR/JPY. Will these pairs turn lower? What are key levels to watch for? Find out from @ddubrovskyFX here:
  • Natural gas spot prices have been on the rise, recapturing a key trendline, following the EIA’s Short-Term Energy Outlook. Where can prices head from here? Find out from @FxWestwater here:
Gold Price: Building Momentum on Weak USD, Growing Nuclear Risk

Gold Price: Building Momentum on Weak USD, Growing Nuclear Risk

Nick Cawley, Strategist

Gold (XAU) Price, News and Chart:

  • Fed Chair Powell preaches patience.
  • India and Pakistan raise political tensions.

Q1 2019 Gold Forecast and Top Trading Opportunities

Gold continues to consolidate above the $1,320/oz. level after its recent rally and may make a fresh attempt at the recent 10-month high at $1,347/oz. FOMC Chair Jerome Powell told lawmakers yesterday that the Fed is no rush to increase rates and reiterated the central bank’s ‘patient’ stance, pushing the greenback marginally lower. With US and global growth slowing, expectations are now growing that the Fed rate tightening cycle is now over, and interest rate cuts may be needed in 2020 to help boost growth and inflation.

Gold should also get an uplift from increasing political tensions between India and Pakistan over the disputed Kashmir region. On Tuesday, Indian planes flew into Pakistan airspace and bombed a terrorist camp, sparking conflict between the two nuclear powers. And today, Pakistan shot down two Indian Air Force planes inside Pakistan airspace and captured one Indian pilot in an act of retaliation that will provoke further actions from India.

Gold has been trading sideways for the last handful of sessions, consolidating its recent rally. From a technical view, the precious metal trades above all three-moving averages and the RSI indicator has moved out of overbought territory but remains positive. Support starts around $1,320/oz. and includes a cluster of recent lows and the 20-day ma before the $1,302/oz. comes into play. Last Friday’s high just under $1,333/oz. is the initial target before $1,347/oz. comes into play.

How to Trade Gold – Top Strategies and Tips

Gold Daily Price Chart (June 2018 – February 27, 2019)

Gold Price: Building Momentum on Weak USD, Growing Nuclear Risk

Retail traders are 69.7% net-long Gold according to the latest IC Client Sentiment Data, a bearish contrarian indicator. Recent changes in daily and weekly sentiment however give us a stronger bearish trading bias.

What is your view on Gold – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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