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xausd key areas to watch with detailed analysisHere's an analysis of XAU/USD at 2,861 as of February 10, 2025, incorporating technical and fundamental insights from the search results: Current Context Gold (XAU/USD) is trading near 2,861, a critical juncture given recent market dynamics. This level aligns with forecasts and technical patterns discussed in the search results, offering insights into potential bullish or bearish scenarios. Key Technical Levels Immediate Support: 2,861: Coincides with the lower bound of February 2025’s forecasted range (2,861.25–2,991.30). A hold here could signal bullish resilience. 2,746–2,695: Deeper support zones if a correction occurs, based on Fibonacci retracement levels and trendline analysis . Resistance Levels: 2,868–2,900: The next psychological and technical hurdles, with 2,868.56 (R2) noted as a swing high target . 2,991–3,000: Upper bound of February’s projected range and a key breakout target . Long-Term Trend: Gold remains in an ascending channel (up ~27% since 2024), supported by geopolitical uncertainty and central bank demand . The 100 SMA is above the 200 SMA on the 4-hour chart, indicating underlying bullish momentum . Bullish Scenario Triggers: Fed Policy & Inflation: Continued dovish signals from the Fed (e.g., rate cuts) and persistent inflation could drive gold higher . Geopolitical Risks: Escalating tensions (e.g., Middle East conflicts, U.S.-China trade policies) may boost safe-haven demand . ETF Inflows: Positive gold ETF flows, as seen in late 2024, could reignite upward momentum 3. Technical Outlook: A bounce from 2,861 could target 2,900–2,991, aligning with February’s forecast . A break above 2,991 opens the path to 3,000+, with institutions like JPMorgan forecasting $3,150 by year-end . Bearish Risks Triggers: USD Strength: A stronger dollar (e.g., from robust U.S. data or hawkish Fed rhetoric) may pressure gold . Profit-Taking: Overbought signals (RSI at 57) and resistance at 2,868 could trigger short-term pullbacks . Reduced Safe-Haven Demand: Easing geopolitical tensions or risk-on sentiment might reduce gold’s appeal . Technical Outlook: A breakdown below 2,861 could test 2,746–2,695 (Fibonacci and trendline support) . Sustained selling might invalidate the uptrend, risking a drop toward 2,625 (critical 100-day SMA). Macro Drivers to Watch U.S. Economic Data: Non-Farm Payrolls (NFP), CPI, and Fed rate decisions will influence USD and gold . Geopolitical Events: Developments in Ukraine, Middle East, and U.S. trade policies under Trump . Central Bank Activity: Continued gold purchases by central banks (e.g., China, India) may stabilize prices Short-Term Forecast Base Case: Consolidation near 2,861–2,900 as markets digest recent gains and await catalysts. Upside Bias: Favored if gold holds above 2,861, targeting 2,991–3,000 . Downside Risk: A close below 2,861 could trigger profit-taking toward 2,746 Conclusion At 2,861, XAU/USD is at a pivotal level. While the broader trend remains bullish (supported by inflation, geopolitics, and central bank demand), short-term volatility from USD fluctuations and technical resistance could dominate. Traders should monitor 2,861 as a key support and watch for breaks above 2,900 or below 2,746 to confirm directional bias. support and resistance for short term: Resistance: 2872 2885 2894 2900 2911 2920 these resistance points can be used as bullish targets Support: 2855 2851 2841 2833 2830 2819 2800 2782 these support points can act as bearish targets LIKE BOOST AND SHARE US SUPPORT US
OANDA:XAUUSDLong
by realmillionairefx
6
WDC Western Digital Corporation Options Ahead of EarningsIf you haven`t bought WDC before the previous earnings: Now analyzing the options chain and the chart patterns of WDC Western Digital Corporation prior to the earnings report this week, I would consider purchasing the 65usd strike price Calls with an expiration date of 2025-3-21, for a premium of approximately $4.35. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NASDAQ:WDCLong
by TopgOptions