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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
GBP/USD
Bearish
Low
High
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 https://t.co/BKCLJTDk9h
  • 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: https://t.co/n0CVWWOJDe https://t.co/0uLjsQ2gwM
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/nfiFAlyYXv
  • 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: https://t.co/Blrl0unrdT https://t.co/mIsVJ4zTbB
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/hymrumanUY
  • 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: https://t.co/kODPAfs2Iz https://t.co/6dAqxsVfxJ
  • 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: https://t.co/Xu3ZT7EtrW https://t.co/5VHKn52MaA
  • 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: https://t.co/nAa0fHq4Np https://t.co/mf9rsmIvaW
  • 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: https://t.co/7t4BzmLg8w https://t.co/mYWO0Eta0P
  • 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: https://t.co/ZvEMQuFjSs https://t.co/rMmq9cehnY
Natural Gas Outlook: Price Continues to Benefit from Warmer Weather, Eyes on $4.00

Natural Gas Outlook: Price Continues to Benefit from Warmer Weather, Eyes on $4.00

Brendan Fagan,

Natural Gas, Commodities, Oil – Talking Points

  • Natural gas prices continue to coil below $4.00, trendline support below
  • National weather forecasts calling for temperatures to drop from current levels
  • Potential formation of tropical storm in the Gulf of Mexico threatens demand, production

Natural gas prices once again flirted with the key $4.00 level on Wednesday before retreating. Natural gas futures have roared higher of late as most of America experiences a hotter summer than expected. Parts of Texas and the Southwest continue to experience temperatures of 100+, highlighting the increased demand for natural gas products. The National Oceanic and Atmospheric Administration has also revealed its forecasts that temperatures are expected to remain warmer than normal over the next two weeks.

Risks do remain for the natural gas market, particularly in the form of large storms. The potential formation of a tropical storm in the Gulf of Mexico poses a threat to natural gas production. Energy consumption and supply lines along the Southern Coast of the United States may also take a hit. The development of severe weather throughout the gulf, coupled with forecasts of a cooler September highlight potential downside risks for natural gas prices. Despite total supply remaining steady, demand continues to be very strong for natural gas products.

National Temperature Map

Natural Gas Outlook: Price Continues to Benefit from Warmer Weather, Eyes on $4.00

Courtesy of the National Weather Service

Having fallen below that key psychological level, it would appear that a breakout may be contained by that imaginary barrier. Price has gyrated between $4.00 resistance and an ascending trendline from January providing support. Following a brief retest of the 50-day moving average on August 19, price has remained in an uptrend, making higher highs each day. A retest of the early-August swing high of 4.205 may be on the cards should natural gas futures make a sustained break above the $4.00 barrier. Cooler weather, tropical storms, and numerous other headwinds could see natural gas retreat to a key support zone around 3.800.

Natural Gas Futures Daily Chart

Natural Gas Outlook: Price Continues to Benefit from Warmer Weather, Eyes on $4.00

Chart created with TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Brendan Fagan, Intern

To contact Brendan, use the comments section below or @BrendanFaganFX on Twitter

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

DISCLOSURES