Prepared by THEGUARDIANFOREXTV
Weekly Market Review (WMR)
Instrument: XAUUSD
Date:*Week Ending January 12, 2025
This week, the gold market (XAUUSD) demonstrated a consistent bullish trend following its recent bounce off the key demand zone near 2,665. The upward momentum was supported by positive global risk sentiment and a weaker U.S. dollar, driving gold prices to test higher resistance levels.
Key Highlights:
1. Market Structure: The 1-hour chart showcased a series of higher highs and higher lows, indicating strong bullish market momentum. The swing low near 2,680 served as a significant support level for buyers, attracting renewed bullish interest.
2. Volume Analysis: Analyzing volume data reveals heightened trading activity at critical levels, particularly during the bounce from 2,680. This indicates robust demand for gold at lower price levels.
3. Key Levels:
- Support: 2,680 and 2,665
- Resistance: 2,710 and the psychological level of 2,720
4. Fundamental Drivers: Concerns around inflation and geopolitical uncertainties contributed to the safe-haven demand for gold. Additionally, the U.S. Federal Reserve’s dovish tone reinforced expectations of a more accommodative monetary policy, further supporting gold prices.
In conclusion, XAUUSD displayed strength throughout the week, closing slightly below the critical resistance at 2,690. The price action and volume suggest that bulls remain in control, setting the stage for further upside in the coming week.
Weekly Market Projection (WMP)
Date: Week Beginning January 13, 2025
For the upcoming week, our technical and fundamental analysis signals a bullish outlook for XAUUSD, with a primary focus on the critical levels of 2,680 (support) and 2,720 (target resistance).
Key Projections:
1. Entry Strategy:
We are projecting a potential long entry at the swing low near 2,680, a level that aligns with the current demand zone and historical support. The entry will be confirmed by bullish candlestick formations or momentum shifts on lower timeframes.
2. Target Levels:
- Primary Target: 2,720 (Previous high and key resistance level)
- Secondary Target: 2,740 (Extension of bullish momentum beyond 2,720)
3. Risk Management:
- Stop Loss: Below 2,665 to minimize downside risk if the support level fails.
- Risk-to-Reward Ratio: Aiming for a minimum R:R of 1:3 for an optimal trade setup.
4. Market Sentiment:
Market sentiment remains bullish, fueled by continued geopolitical risks and dovish central bank policies. Traders should monitor developments in the U.S. CPI report and speeches by Federal Reserve officials, which could influence gold’s trajectory.
5. Technical Indicators:
- Moving Averages: The 50-period MA is above the 200-period MA, confirming a bullish crossover.
- RSI: Hovering near 60, indicating bullish momentum without being overbought.
- Bollinger Bands: Price is trending near the upper band, signaling continued upward pressure.
Trading Plan:
Monitor price action closely at 2,680 and watch for any signs of a bullish reversal. A breakout above 2,700 will likely pave the way for a retest of 2,720. Traders are advised to remain vigilant for market news and adjust positions accordingly.
Final Thoughts:
The XAUUSD market presents a promising opportunity for traders this week, with a clear bullish trajectory towards 2,720. At THEGUARDIANFOREXTV, we remain committed to providing you with the insights and strategies you need to navigate the markets effectively
Weekly Market Review (WMR)
Instrument: XAUUSD
Date:*Week Ending January 12, 2025
This week, the gold market (XAUUSD) demonstrated a consistent bullish trend following its recent bounce off the key demand zone near 2,665. The upward momentum was supported by positive global risk sentiment and a weaker U.S. dollar, driving gold prices to test higher resistance levels.
Key Highlights:
1. Market Structure: The 1-hour chart showcased a series of higher highs and higher lows, indicating strong bullish market momentum. The swing low near 2,680 served as a significant support level for buyers, attracting renewed bullish interest.
2. Volume Analysis: Analyzing volume data reveals heightened trading activity at critical levels, particularly during the bounce from 2,680. This indicates robust demand for gold at lower price levels.
3. Key Levels:
- Support: 2,680 and 2,665
- Resistance: 2,710 and the psychological level of 2,720
4. Fundamental Drivers: Concerns around inflation and geopolitical uncertainties contributed to the safe-haven demand for gold. Additionally, the U.S. Federal Reserve’s dovish tone reinforced expectations of a more accommodative monetary policy, further supporting gold prices.
In conclusion, XAUUSD displayed strength throughout the week, closing slightly below the critical resistance at 2,690. The price action and volume suggest that bulls remain in control, setting the stage for further upside in the coming week.
Weekly Market Projection (WMP)
Date: Week Beginning January 13, 2025
For the upcoming week, our technical and fundamental analysis signals a bullish outlook for XAUUSD, with a primary focus on the critical levels of 2,680 (support) and 2,720 (target resistance).
Key Projections:
1. Entry Strategy:
We are projecting a potential long entry at the swing low near 2,680, a level that aligns with the current demand zone and historical support. The entry will be confirmed by bullish candlestick formations or momentum shifts on lower timeframes.
2. Target Levels:
- Primary Target: 2,720 (Previous high and key resistance level)
- Secondary Target: 2,740 (Extension of bullish momentum beyond 2,720)
3. Risk Management:
- Stop Loss: Below 2,665 to minimize downside risk if the support level fails.
- Risk-to-Reward Ratio: Aiming for a minimum R:R of 1:3 for an optimal trade setup.
4. Market Sentiment:
Market sentiment remains bullish, fueled by continued geopolitical risks and dovish central bank policies. Traders should monitor developments in the U.S. CPI report and speeches by Federal Reserve officials, which could influence gold’s trajectory.
5. Technical Indicators:
- Moving Averages: The 50-period MA is above the 200-period MA, confirming a bullish crossover.
- RSI: Hovering near 60, indicating bullish momentum without being overbought.
- Bollinger Bands: Price is trending near the upper band, signaling continued upward pressure.
Trading Plan:
Monitor price action closely at 2,680 and watch for any signs of a bullish reversal. A breakout above 2,700 will likely pave the way for a retest of 2,720. Traders are advised to remain vigilant for market news and adjust positions accordingly.
Final Thoughts:
The XAUUSD market presents a promising opportunity for traders this week, with a clear bullish trajectory towards 2,720. At THEGUARDIANFOREXTV, we remain committed to providing you with the insights and strategies you need to navigate the markets effectively
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.