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
More View more
Real Time News
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here:
  • Google finance-related search interest in 'Evergrande' has almost overtaken 'Covid'. 'Taper' doesn't even register on the scale
  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:
  • GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt. Get your market update from @HathornSabin here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here:
Gold Price Forecast: XAU/USD Recovers but is the Rally to be Believed?

Gold Price Forecast: XAU/USD Recovers but is the Rally to be Believed?

Peter Hanks, Strategist

Gold Price Outlook:


Gold Price Forecast: XAU/USD Recovers but is the Rally to be Believed?

Gold has surged this week as it looks to recover from losses suffered in early January. While the fundamental landscape and tailwinds for the precious metal have remained largely constant, a rise in treasury yields may have worked to erode gold’s standing as a safe haven. Either way, gold has moved off its monthly lows and toward its 200-day moving average which may provide early resistance to a continuation higher.

Gold (XAU/USD) Price Chart: 4 – Hour Time Frame (July 2020 - January 2021)

gold price chart

How to Trade Gold: Top Gold Trading Strategies and Tips

The moving average resides around the $1870 mark and will likely work to influence price in the days ahead. Subsequent resistance might lie at the Fibonacci levels near $1883 and $1920. Resistance marked by the $1956 level may be the important, however, as it coincides with the metal’s peaks in November and January. Thus, it can be argued it is the “line in the sand” that, if broken, could open the door to a longer-term continuation higher as it would curb the series of lower-highs that have been established.

The multitude of resistance overhead might pose a threat to such a continuation and, as a result, the technical case for longer-term bullishness is fragile at this time. With that in mind, resistance could provide potential entry points for bearish exposure in the weeks ahead.

Support likely resides along the Fibonacci level at $1838 with subsequent levels near $1800 and $1764. A break beneath the latter would constitute a considerable technical development that could open the door to a deeper retracement.

While the fundamental tailwinds remain intact, the technical landscape suggests a confident break above $1956 might be required before the downtrend that began in August can be snapped. In the meantime, gold may continue to gradually bleed lower over the longer-term - in my opinion - although gains to the topside could continue in the shorter-term. Follow @PeterHanksFX on Twitter for updates and analysis.

--Written by Peter Hanks, Strategist for

Contact and follow Peter on Twitter @PeterHanksFX

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