Good morning. On August 15, 1971, the US effectively ended the dollar’s convertibility into gold, an event known as the “Nixon Shock”. That day marked the moment the dollar became purely fiat and gold’s role as backing for currency fell away.
Sometimes, a single policy shift changes everything.
-Shaun A, Jonathan Kibbler, Jordon Mellor
MARKETS
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FOREX
The Fed Holds Gold’s Fate at $4,000
Gold’s been through a rollercoaster. After a 5% plunge, its biggest single drop since 2020, our favorite metal finally caught a breath, climbing back toward that $4,000 mark. But let’s be real: this isn’t victory yet IMO. It’s a standoff.
The market’s holding its breath ahead of the FOMC decision, and that makes every tick above or below $4,000 feel loaded. With traders expecting another rate cut in December and the Fed likely to stay dovish today, gold is trying to prove it still deserves its safe-haven crown.
Here’s What You Need to Know:
1. The Bounce Looks Technical But It’s Also Nerves
Gold snapped its three-day losing streak after testing $3,900 and is now flirting with $4,000 again. The 38.2% Fibonacci retracement level around $3,975–$4,000 is acting like a magnet and that’s where bulls are making their stand. But the tone feels cautious, not confident. It’s not a “breakout” yet; it’s survival mode before the Fed.
2. The Fed’s Shadow Looms Large
Every gold trader knows the playbook by now: lower rates = weaker USD = gold strength.
The problem? Powell’s wording. If he hints at patience instead of urgency, gold’s rally could fade fast. On the flip side, a confident nod toward more easing might reignite momentum and send prices toward $4,050–$4,130 in a heartbeat.
3. The Chart Still Has Room to Breathe
Technically, gold hasn’t broken trend. The uptrend from September is still holding barely. The 50% Fib level at $3,853 is the next key cushion, followed by $3,720 (the 61.8% level). Above $4,000, the first hurdle sits at $4,058–$4,060, and beyond that, $4,130 remains the key short-term bull target.
My Takeaway
This isn’t the time to call tops or bottoms. Gold at $4,000 is a psychological battlefield and the Fed’s decision will decide who wins.
Personally, I’m waiting for confirmation. If Powell stays dovish, I’ll look for momentum above $4,060. But if the dollar catches a bid, I’ll respect the downside and let $3,850 do its job. The point is simple: patience pays more than prediction in weeks like this.
Gold’s back in the game, but the Fed holds the ball.
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FOREX
Going Long EUR/NZD.
The euro has quietly been one of the best performers across the G10 board, while the kiwi remains heavy.
Combine that with a clean technical setup, and we’ve got a potential trend trade opportunity worth watching on EUR/NZD.
Why?
Short-term EUR sentiment remains strong according to the currency strength meter.
ECB policy is steady, but inflation expectations are softening slightly — meaning the bank won’t rush to cut rates.
Markets are eyeing upcoming data (GDP + CPI) for clues, but overall, the EUR remains supported by relative stability versus peers.
NZD is weak on the currency strength meter.
NZD fundamentals are not strong with high levels of unemployment.
Conditions
My thought process is to always keep it simple.
The price is in an upward trend making higher highs and higher lows.
We are seeing a retest of the previous supporting lows.
Price is trading above the 50 daily moving average.
Strategy
We have a solid “Why” and we have the correct trading conditions. Now it’s time to apply a strategy.
Wait for the hourly chart price to break into a new upward trend.
A retest and rejection of the 50MA with price closing back above it will trigger my buy.
Stop loss will go ATR below the swing lows.
Target will be the 2.0450 zone of resistance.
WATCH
CHART BREAKDOWN OF THE DAY (GBP/USD)
GBPUSD trades around 1.3220, struggling to hold above the 1.3250 support zone. A break below this level could open the path toward 1.3140–1.3130, while resistance stands at 1.3340 and 1.3500. Bias remains bearish as long as price stays under the 200-day SMA.
DAILY TRADING PSYCHOLOGY NUGGET
“Every trade tests your discipline more than your strategy.” Charts may show patterns, but it’s your ability to stay patient, stick to rules, and manage emotion that decides whether you profit or panic.
TODAY’S MOST TRENDING MARKET NEWS (OCTOBER 29, 2025)
credits: REUTERS/Hasnoor Hussain
The Japanese yen surged as Scott Bessent, the U.S. Treasury Secretary, urged Japan’s government to give the Bank of Japan (BOJ) more room to raise interest rates, reigniting speculation of a near-term policy shift. The dollar fell to about ¥151.59 against the yen. (source:reuters)
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ANSWER
Answer: Natural Gas $XNG ( 0.0% )