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Dollar Weakens as Trade Tensions EaseEUR/USD is hovering around 1.0460 on Friday morning, while the dollar index remains near 107, poised for a 1% weekly decline. The drop is driven by easing trade tensions and expectations of a softer personal consumption expenditures (PCE) price index later this month. The dollar weakened 0.8% on Thursday after President Trump directed his administration to explore reciprocal tariffs on countries with unfair trade practices. However, since these tariffs are not expected immediately, concerns over retaliation and inflation eased, reducing uncertainty around the Fed's ability to lower borrowing costs. Meanwhile, producer inflation data exceeded expectations, following strong consumer inflation figures from the previous day. Despite this, components of the report suggest that core PCE inflation, the Fed's key focus, may come in lower than anticipated. Technically, 1.0460 is the first resistance level, with further barriers at 1.0515 and 1.0600 if the pair moves higher. On the downside, initial support is at 1.0350, followed by 1.0275 and 1.0220.
by ChartMage
High grade copper HG looking bullsihCopper traded on the COMEX looks bullish. Currently at 3.20 per pound, the chart shows an Eve and Adam bottom forming between 2015 and now. The expected target of this move would be 4.70 which would put the market five cents above its old high set in Feb 2011 of 4.65. From 4.65 I would expect the market to revisit the 3.30-3.60 region to make a strong bottom for a longer term ascent. Looking back further on the copper chart, there is a longer term Adam and Eve bottom forming starting in Dec 2008 to present. The target would be 7.365 based off of this longer term pattern. If copper were to trade up to 4.70 area and come back down to 3.50 area, it would also present an opportunity for an ascending triangle to form with the same target, 7.365, as the Adam and Eve pattern. With a weakening dollar, look to copper for guidance on inflation going forward.
COMEX:HG1!Long
by ngordon
3
GBP/USD Supported by Peace Deal HopesThe GBP/USD traded at $1.246, holding steady with global market optimism. The pound found support from peace deal hopes between Ukraine and Russia but struggled against a stronger U.S. dollar, supported by rising Treasury yields and recent inflation data. The Federal Reserve’s cautious approach to rate cuts has kept the dollar firm, while UK economic concerns, including a potential GDP contraction, weigh on the pound. With upcoming U.S. PPI data, GBP/USD could face further pressure. The first resistance level for the pair will be 1.2500. In the event of this level's breach, the next levels to watch would be 1.2600 and 1.2650. On the downside 1.2340 will be the first support level. 1.2265 and 1.2100 are the next levels to monitor if the first support level is breached.
by ChartMage
Euro Gains Ground on Ukraine Peace TalksThe EUR/USD traded at $1.04 on Thursday, gaining 0.1% for the day after rebounding from earlier declines. The euro found support amid optimism over a potential peace agreement between Ukraine and Russia, spurred by encouraging progress in diplomatic discussions. Despite rising U.S. Treasury yields strengthening the dollar, the euro remained steady. U.S. inflation data exceeded expectations, tempering hopes for Federal Reserve rate cuts. While the dollar stays relatively strong, the euro’s stability suggests it could hold firm against the greenback. Moving forward, U.S. monetary policy and geopolitical events will be key factors influencing EUR/USD. From a technical standpoint, the first resistance level is at 1.0460, with further resistance at 1.0515 and 1.0600 if the price breaks higher. On the downside, initial support is at 1.0350, followed by additional levels at 1.0275 and 1.0220.
by ChartMage
DOLLAR INDEX Good Day Fellow Traders We have seen that the Dollar has stopped trending at 110 area as market on the chart as a weekly level of resistance, with thus we have closely been tracking the cot index which indicates that a correction is due, although there has not been much action of impulsive move down, we do expect at least a 3-wave pullback down to the 105 area, should this level break it open the chart for a drop down to the weekly level at 104.00. Yesterday we had a higher inflation reading, with trump policies in action we could expect more of the same higher volatile moves to come and USD to be the dominant trading currency under the rain of Trump. My personal opinion would be to stay away from forex pairs and rather shift focus to swing and position trade the global indices as political turmoil will affect currencies most, look at monthly, weekly and daily charts(entries) with wide stops
TVC:DXY
by Mike_SnD
1
Bitcoin below $96K – Miners trigger a sell-offThe price of Bitcoin (BTCUSD) has dropped more than 3% in the past 24 hours, closing around $96,000 amid aggressive selling by miners. Over 2,000 BTC have been transferred to centralized exchanges since Bitcoin’s recovery to GETTEX:98K , intensifying downward pressure on the market. This price decline is driven by miners’ efforts to reduce their reserves in response to market instability. At the same time, Bitcoin mining difficulty has increased by 5.6%, signaling new challenges for the industry and adding pressure on the cryptocurrency’s value. Typically, asset transfers to centralized exchanges indicate a readiness to sell, whereas transfers to custodial wallets suggest long-term holding. Over the past two weeks, Bitcoin has repeatedly dropped below the $100K mark, influenced by uncertain U.S. trade policies and negative macroeconomic signals from the Labor Department report. A brief recovery failed to sustain bullish momentum, leading to large-scale sell-offs and further price declines, keeping altcoins under constant pressure. As a significant part of institutional Bitcoin demand, miners continue to shape market dynamics. However, over the past seven days, selling activity has slowed as investors anticipate a potential price rebound. FreshForex analysts forecast that BTCUSD retains the potential for recovery and even new all-time highs, while Standard Chartered suggests Bitcoin could reach $500K by 2028.
SAXO:BTCUSDLong
by Fresh-Forexcast2004
Silver Steady Amid US Tariffs, China Retaliation, and EU Trade WSilver trades around $31.8 per ounce on Wednesday, steady as safe-haven demand rises after Trump’s 25% tariff on steel and aluminum, with more expected. China’s retaliatory tariffs take effect today, while Germany warns of an immediate EU response to US tariffs. Silver is also supported by strong industrial demand, particularly in renewables, and ongoing supply shortages. Technically, the first resistance level will be 32.50 level. In case of this level’s breach, the next levels to watch would be 33.00 and 33.50. On the downside, 31.40 will be the first support level. 30.90 and 30.20 are the next levels to observe if the first support level is breached.
FOREXCOM:XAGUSD
by ChartMage
Gold Falls from $2,940 Peak Amid Fed’s Hawkish StanceGold fell below $2,900 per ounce on Wednesday, extending losses after hitting a record $2,940. The drop followed Fed signals that rate cuts aren’t imminent, shifting focus to US inflation data. While inflation hedging supports gold, the Fed’s stance limits its appeal. Safe-haven demand remains strong amid Trump’s tariffs, trade war fears, and geopolitical tensions, with Israel threatening to end the Gaza ceasefire. Dovish central banks and rising gold purchases also provide support, while India’s gold leasing rates hit record highs. Technically, the first resistance level will be 2949 level. In case of this level’s breach, the next levels to watch would be 2975 and 3000. On the downside, 2885 will be the first support level. 2830 and 2760 are the next levels to monitor if the first support level is breached.
TVC:GOLD
by ChartMage
GBP/USD Rises as Traders Scale Back Aggressive BoE Easing BetsThe British pound rose to $1.2440, rebounding from a three-week low as traders adjusted rate cut expectations after BoE policymaker Catherine Mann’s comments. Although she voted for a 50bps cut, she clarified it wasn’t a signal for aggressive easing but aimed to improve market communication. She emphasized the need to maintain monetary restrictions due to structural challenges in returning inflation to 2%, leading traders to lower 2025 rate cut expectations to 62bps. Focus now shifts to upcoming GDP estimates, Q4 figures, and December’s industrial and manufacturing output. The first resistance level for the pair will be 1.2500. In the event of this level's breach, the next levels to watch would be 1.2600 and 1.2650. On the downside 1.2340 will be the first support level. 1.2265 and 1.2100 are the next levels to monitor if the first support level is breached.
by ChartMage
EUR/USD Steady as Markets Await Key US Inflation ReportEUR/USD trades near 1.0450, with the dollar index steady at 108 on Wednesday, as markets await a key inflation report. January CPI is expected to show core inflation rising to 0.3% from 0.2% MoM, while annual inflation may ease to 3.1% from 3.2%. Fed Chair Powell told Congress the Fed isn’t rushing to cut rates, citing economic strength and inflation risks. He warned that premature easing could stall inflation progress, while delays could harm growth. Markets also assess the impact of Trump’s latest tariff hike. From a technical perspective, the first resistance level is at 1.0400, with further resistance levels at 1.0460 and 1.0515 if the price breaks above. On the downside, the initial support is at 1.0275, followed by additional support levels at 1.0220 and 1.0180.
by ChartMage
Yen Falls Below 153 as BOJ Offers Little Policy ClarityThe yen fell below 153 per dollar on Wednesday, hitting a one-week low after BOJ Governor Ueda gave little clarity on rate policy. He reiterated the BOJ's commitment to a 2% inflation target, despite board member Tamura suggesting rates may rise to 1% in late 2025. The yen also weakened as Trump’s escalating tariffs raised inflation concerns, limiting the Fed’s ability to cut rates. The key resistance level appears to be 153.85, with a break above it potentially targeting 154.90 and 156.00. On the downside, 151.90 is the first major support, followed by 151.25 and 149.20 if the price moves lower. 
by ChartMage
"Gold Bullish Continuation XAUUSD is expected to reach 3000 soonThis chart shows a strong bullish momentum in gold (XAUUSD) on the 1-hour time frame, with a clear breakout above a recent high. The price action is following a rounded trend, indicating a continuation of the bull run. A key support zone (spot area) has been tested, and the price is pushing higher. The 1st target is around 2,935, the 2nd target at 2,970, and the final target at 3,000. If gold holds above the spot area and continues respecting the trendline, it could move towards these targets. However, a breakdown below the spot area might lead to a pullback before further upside.
OANDA:XAUUSDLong
by TRADE_CENTER_1
2
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
"Gold (XAU/USD) Breakout and Retest: Bullish Continuation or RevThe chart shows a strong bullish momentum in gold (XAU/USD) with a rounded retest pattern. Price recently broke a key resistance and is now testing it as support. There is an indication of a potential sell from the current high, but a successful retest of the breakout zone could confirm further bullish continuation. The buy target is set around 2,931, while the sell target is near 2,882. If the price holds above the breakout zone, buying pressure is expected to continue. OANDA:XAUUSD
OANDA:XAUUSDLong
by TRADE_CENTER_1