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
  • US #NaturalGas futures (Henry Hub) shoot past 6USD during Tuesday's Asia-Pacific trading session (though prices have trimmed most gains), nearing the 2014 high Prices have climbed over 37% since September 23rd
  • WTI #CrudeOil prices extend gains during Tuesday's Asia-Pacific trading session, nearing the July high at 76.95 Prices are up almost 0.9% on the day so far
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Brent oil prices hit $80 per barrel for the first time since October 2018 #trading #OOTT
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • This week has started with the recovery rally in risk assets stalled and the Dollar looking down multiple barrels of fundamental threat in monetary policy and debt politics. $EURUSD is well positioned as indicator 1.1650-1.1750
  • 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:
  • AUD/NZD, Could This be the Turnaround? - #AUDNZD chart on @TradingView
  • Another pleasure being on @ausbiztv with host @AusAndrewG talking about US indices, rising bond yields and $USDJPY Check out the full interview here! -
  • 🇦🇺 Retail Sales MoM Prel (AUG) Actual: -1.7% Previous: -2.7%
Gold Q1 Technical Forecast: Pullback to Offer Opportunity in Early 2019

Gold Q1 Technical Forecast: Pullback to Offer Opportunity in Early 2019

Michael Boutros, Strategist

The recovery in Gold prices continued in the fourth quarter of 2018 after rebounding off confluence support near 1171 back in August. The advance is poised to close the year more than +9% off the lows and heading into the start of 2019 the focus is confluence technical resistance near 1270 – a region defined by the 52-week moving average, the upper median-line of the broader descending pitchfork (blue) and basic channel resistance (red). A breach weekly close above this threshold is needed to keep the long-bias viable targeting the 61.8% retracement of the yearly range at 1287 and the 2018 open at 1302. Otherwise, a return back to the downside can’t be ruled out just yet.

Gold Price Chart: Weekly Timeframe (January 2015 to December 2018)

Gold Q1 Technical Forecast: Pullback to Offer Opportunity in Early 2019

As traders make their way into the first quarter of 2019, interim support rests at 1236 backed by the December open at 1220. This level converges on channel support into late-January and a break below would risk a larger setback for Gold prices towards the lower parallel, with broader bullish invalidation steady at the yearly low week close at 1184.

See the complete Q1'19 Gold forecast as well as forecasts for major currencies, equities, and Oil.

--- Written by Michael Boutros, Currency Strategist

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