Gold remained largely range bound

28 February, 2018

Gold has remained largely range bound over the past 4 trading sessions but it seems as the today there is momentum gaining to the upside and the formation of a reverse head and shoulders as we can see in on the chart is definitely a bullish sign.

They key for this pattern for this pattern to continue will be the Speech due out in around an hour by US Federal Reserve President Jeremy Powell where he will lay out the state of the economy and the Feds plans going forward.

Powell only took over the top job at the Fed recently so chances are he may take a soft tone and not talk up the economy too much for fear of spooking investors about future interest rates.

This maybe just what gold needs to once again trade back into the familiar trading range of between $1,360 and $1,365.


Source link  
Oil needs Opec cuts

The latest tumble in the oil price has now reached gigantic levels, almost equaling the declines reached during the global financial crisis and according to some analysts, we may...

Gold price has rallied sharply

A declining stock market is always good for gold as investors look for somewhere safe to ride out the uncertainty. Precious metals are seeing buying...

Pound surges, rate hike may follow

The British pound is powering ahead today against its US counterpart as more positive data raises speculation that a rate hike from the Bank...


Gold may rally towards years end

After a horror 6 months the gold price has found much needed support over the last 4 weeks and is now sitting above the $1,200 mark and depending...

New tariffs lift US dollar

As widely expected, US President Donald Trump has slapped another $200 billion worth of tariffs on Chinese goods which has caused a lift in the US dollar today against the major...

Will the US dollar jump on Thursday?

The US China trade war has now come to the top of the headlines again with US President Donald Trump keen to go ahead with an extra $200 billion...


Big Money is avoiding the pound

Just when we thought that a deal between the European Union and Great Britain was in the making and thus avoiding a hard Brexit, another spanner...

Pound gains on Brexit negotiations

The British pound has surged back through the $1.30 mark after progress made today on Brexit negotiations raised speculation that a deal...

IEA report siks oil

The oil price had a rough time last week, hitting its lowest level since join after a report by the energy watchdog showed rising inventories which raises concerns over global growth...


In the past 24 hours Bitcoin has lost -0.85% and reached $3638.11129146. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 1.5351% and is now at $1.1563. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -9.69% and is now at $122.47854368. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2019

# Broker Review
1easyMarketseasyMarkets91%
2FXTMFXTM87%
3HYCMHYCM86%
4FxProFxPro84%
5FIBO GroupFIBO Group83%
6OctaFXOctaFX82%
7HotForexHotForex81%
8FXCMFXCM80%
9XMXM72%
10FP MarketsFP Markets69%
  


Share: