Gold Rallies Towards a $4k Test – but Can Bulls Break the Trend?
Gold prices melted down last week but so far this week, a different tone has taken over. But can this turn into anything more than a short squeeze?
James Stanley
Sr. Strategist
Expertise: Price Action, Macroeconomics
Trading Style:
- Analytical Profile: Technical and Fundamental
- Time Frame: Medium-Term (2 Days to 2 Weeks)
- Type: Event-driven
Experience:
- Started working with equities in 1999, options in 2000, Fixed income in 2006 and FX in 2009
- Worked at Merrill Lynch, Fidelity, TD Ameritrade and DailyFX/FXCM
- Former Head of Education at DailyFX
Education:
- Bachelor of Business Administration degree in Financial Services and Planning from Baylor University’s Hankamer School of Business
Meet our research team
Articles by James Stanley
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EUR/USD has been mired in a steep sell-off as worries have built around French yields, but continued support around the 1.1100 level give hope for a bounce that could possibly turn into something more.
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/JPY
The US Dollar was up this week through a slew of Central Banks but next week sees the focus shift to mid-term elections and the week after brings inflation.
Nasdaq 100, S&P 500 Smashed as AI Bubble Fears Run Risk Aversion
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US Dollar Price Action Setups in Central Bank Week
We’ve heard from the Fed, ECB and BoC with the BoJ up next later tonight and DXY trajectory hangs in the balance depending on how hawkish the Bank of Japan might turn out to be.
USD/JPY Fed-Fueled Pullback Ahead of BoJ
USD/JPY has a theoretical cap after the intervention in July and then the verbal threats thereafter, but the big question now is whether a larger case of carry unwind lurks around the next corner.
Gold Bounces from $4k – Are Bears Finished?
Gold has so far bounced from the $4k level following last week’s sell-off but whether a low is in-place will highly depend on how the Central Bank meetings remaining on the calendar for the rest of this week roll out.
Pre-FOMC US Dollar Price Action Setups: EUR/USD, USD/JPY, GBP/USD, USD/CAD
Tomorrow brings the Fed and then mid-term elections next week and CPI the week after, so we have a loaded few weeks ahead as USD strength remains in-play.
Canadian Dollar Forecast: The 1.4000 USD/CAD Test
USD/CAD was in a strong bullish trend through the October open, but that has since turned into a decisive sell-off. The 1.4000 level is now in play and that begs the question as to whether bulls can force a turn.
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