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
Oil - US Crude
Wall Street
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
  • Get our analysts’ view on the key fundamentals for Oil in Q2. Download now.
  • The Bullish Cup and Handle that has been brewing in $USDTHB for some time is now on the verge of breaking higher Pushing above key resistance (around 31.606) exposes the July 2020 high at 31.858 towards peaks from the same year Learn more here -
  • No change in interest rates is expected, but the central bank could adopt a more hawkish language in response to the deteriorating inflation outlook. Get your market update from @DColmanFX here:
  • Fed's Williams: - It wouldn't be a problem if reverse repo activity increased - It is impossible to predict when the Fed will be able to reduce its bond-buying program
  • Fed's Williams: - The Fed reverse repo facility is operating perfectly - Overnight reverse repo is running perfectly
  • Fed's Williams: - The Federal Reserve is "talking about talking about" slowing asset purchases - Employers perceive a tight job market, but this does not imply full employment
  • Fed's Williams: - I predict a moderate market response to the Fed's policy meeting - Following the FOMC, there was no minor taper tantrum
  • Fed's Williams: - We see the dangers on both sides in terms of employment and price stability - Money market rates are under increasing downward pressure
  • Fed's Williams: - The average inflation target is not based on any methodology - We have taken note of the significant increase in reverse repo usage
  • Fed's Williams: - The Fed's adjustments to administered rates were about keeping the fed funds rate within the target range - Regulators should pay attention to money market funds since they have been in trouble in the past
Gold Price: Eyes On Breakout Levels - XAU/USD Technical Forecast

Gold Price: Eyes On Breakout Levels - XAU/USD Technical Forecast

Mahmoud Alkudsi, Analyst

Gold Price - XAU/USD Technical Outlook

  • Bullish signals spotted on XAU/USD Chart
  • Levels and key trading zones to watch

XAU/USD Price – Bulls Hold Fire

On Friday, Gold rallied to $1,575 – its highest level in two week then closed the weekly candlestick in the green with 0.9% gain. This week, the market resumed trading higher and printed $1,588.

The Relative Strength Index (RSI) pointed lower from 68 to 60 then remained flat after highlighting a paused uptrend momentum.

Gold DAILY PRICE CHART (MaY 31, 2018 – Jan 31, 2020) Zoomed out

Gold daily chart price 31-01-20 Zoomed out

Gold DAILY PRICE CHART (July 31 – Jan 31, 2020) Zoomed In

Gold daily chart price 31-01-20 Zoomed in

Looking at the daily chart, we notice on Jan 5 Gold opened with a breakaway gap to the upside providing a bullish signal. On Jan 8, the Gold bulls led the price to its highest level in nearly seven years then some seemed to cut back.

On Jan 20, bulls came back and rallied XAU/USD to a higher trading zone $1,555- $1,625 eyeing a test of the high end of it. This week, the market opened with an upward gap ( runaway gap) generating another bullish signal.

A close above the high end of the zone could encourage XAUUSD bulls to push towards $1,672. In that scenario, the weekly resistance levels underlined on the chart should be monitored as some traders may join/exit around theses points.

In turn, a close below the low end of the zone could lead some bulls to exit the market. This may send the price towards $1,526. Further close below this level reflects more bull’s hesitation and possibly opens the door for bears to take charge and press towards $1,453. Nevertheless, the weekly support levels underscored on the chart should be watched along the way.

Gold Four-HOUR PRICE CHART (DEC 30 – Jan 31,2020)

gold four hour price chart 31-01-20

From the four-hour chart, we noticed that on Jan 23 Gold resumed bullish price action and created a higher low with a higher high. Yesterday, the market paused its upward move and started developed a double top pattern. Any violation to the neckline of this pattern located at $1,563 could kick start a downtrend move.

A break below $1,553 may send the price towards $1,535. Yet, the weekly support level underlined on the chart should be kept in focus. On the other hand, a break above $1,590 could cause a rally towards $1,610. Although, the weekly resistance level underlined on the chart would be worth monitoring.

See the chart to know more about key levels Gold would encounter in a further bearish scenario.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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