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.

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
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bullish
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
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.66%, while traders in EUR/GBP are at opposite extremes with 64.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JxqLeQGhcS
  • Heads Up:🇳🇴 Norges Bank Monetary Policy Report due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:🇳🇴 Norges Bank Interest Rate Decision due at 08:00 GMT (15min) Expected: 0% Previous: 0% https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:🇩🇪 Ifo Business Climate (SEP) due at 08:00 GMT (15min) Expected: 93.8 Previous: 92.6 https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:🇪🇺 European Council Special Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:💶 ECB Economic Bulletin due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • Heads Up:💶 ECB General Council Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • 🇨🇭 SNB Interest Rate Decision Actual: -0.75% Expected: -0.75% Previous: -0.75% https://www.dailyfx.com/economic-calendar#2020-09-24
  • SNB maintains interest rates on sight deposits at -0.75% - says CHF is highly valued - ready to step up FX intervention
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: -0.54% Oil - US Crude: -0.94% Silver: -2.99% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SdBtTUrW98
Gold Prices: Has the Rate-Hike Rally Run its Course?

Gold Prices: Has the Rate-Hike Rally Run its Course?

2017-03-29 15:30:00
James Stanley, Strategist
Share:

To receive James Stanley’s Analysis directly via email, please sign up here.

In our last article, we looked at Gold prices after an aggressively-bullish rally had driven price action up to a key resistance level around $1,250. And this came after a tumultuous three weeks in Gold prices: As we came-in to March, Gold prices drove-lower on the anticipation of a rate hike from the Federal Reserve, falling from a high of $1,263 all the way-below a key zone of support around the $1,200-level. But as the Fed hiked rates, they did so with an abundance of caution; electing not to upgrade rate forecasts going out to the end of 2016, and the apparent takeaway was one of disappointment as the U.S. Dollar put in a bearish reversal, and Gold prices shot higher. Just a week later and we were back at $1,250.

Gold Prices: Has the Rate-Hike Rally Run its Course?

Chart prepared by James Stanley

But in the week since, buyers have been able to stoke significant continuation in that bullish trend. For those with longer-term outlooks, bearish positions may be favored as near-term price action has been unable to take out that prior February-high, and the current stall at this ‘lower-high’ may be indicating a reversal around-the-corner:

Gold Prices: Has the Rate-Hike Rally Run its Course?

Chart prepared by James Stanley

The shorter-term setup, however, could be negotiated in a bullish manner; and for those looking to gain short-USD exposure or for Gold bulls, there’s a setup here that can be worked with on the hourly chart under the presumption that this $1,250 zone of resistance is taking some time to resolve before the bullish move may continue-higher.

Gold Prices: Has the Rate-Hike Rally Run its Course?

Chart prepared by James Stanley

--- Written by James Stanley, Strategist for DailyFX.com

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Contact and follow James on Twitter: @JStanleyFX

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

DISCLOSURES