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Forex Strategy Video: Use Fundamentals to Gauge Gold's $1,400 - $1,300 Break

Forex Strategy Video: Use Fundamentals to Gauge Gold's $1,400 - $1,300 Break

2013-09-24 21:13:00
John Kicklighter, Chief Strategist
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Talking Points:

• Technicals offer up a possible inverse head-and-shoulders pattern versus a dominant bear trend for gold

• Fundamentals can help gauge a greater level of confidence for direction and momentum

• There are general four themes that guide gold, but its relationship to the USD is currently key

Sign up for John’s email distribution list, here.

The gold chart offers up a view of a broad range and an eventual breakout. But will the precious metal clear $1,400 or $1,300 first? Technicals find the dominant trend still backing the bears, but recent developments raise the stakes for a turn. Fundamentals can help establish a probable direction and point us to what key spark will turn congestion to trend. In today's Forex Strategy video, we discuss what fundamentals you should consider when trading gold.

How are speculative traders currently positioned on gold? Find out in the twice-daily Speculative Sentiment Index (SSI) updates in DailyFX-Plus.

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

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