Gold at a Crossroads: Can It Hold Above $3,000 or Pull Back?Gold Update – 17 March 2025
Gold recently reached new all-time highs around $3,000 last week, encountering a reaction at this psychological level. Today, the latest Retail Sales data was released, coming in below expectations.
Potential market movements:
• Gold may revisit the previous high of $3,004.
• A move below $2,980 could lead to a test of the $2,955 area.
• A deeper retracement could bring prices toward the $2,930 level.
For Gold to sustain movement above $3,004, market participants may look for a series of confirmed intraday closes above this level.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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Gold’s Record Run: Is 3000 the Next Battleground?Gold 14-Mar-2025:
During this week, Gold moved above the first consolidation area at 2930 following the CPI data release. The next day, price also surpassed previous highs at 2955, reaching a new record at 2993, amid lower inflation data (both CPI & PPI) and ongoing trade-war uncertainties.
As for potential scenarios:
• Gold may trade lower to retest the 2955 level, depending on market sentiment and liquidity.
• It is important to monitor the psychological 3000 level, as price action could experience increased volatility around this area.
• Price action could also see a deeper pullback to 2940 before potential buyers step in at better prices, though this remains subject to broader market conditions.
Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ASX Extremely Oversold Friday Afternoon Short SqueezeLooking for sellers to take profit and bargain hunters to squeeze this heavily sold Australia stock index into the close Friday or for Pop higher Morning if US stocks can Bounce.
In large sell offs Friday are profit taking days for sellers and this naturally causing some buying as they close short positions and in the fallout there are some stocks that are bought on dips that help the whole index rally.
Some good news would help but technically its sets up some excellent 3-1 and 5-1 risk rewards.
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based o n a recommendation, forecast or any information supplied by any third-party."
ETH Testing Strong Levels, Heading Higher?Crypto markets were on the back foot last week, feeling the pressure as governments were looking at the asset as a way around sanctions. Compounding the affect was the U.S. government ordering an executive order looking into crypto assets. Most feared this would result in direct oversight and regulation, which is indeed part of the order, but also looked into the scenario of a digital USD, slightly softening market fears.
We saw this pattern of risk-off and recovery practically across the board, but ETH seems to have the strongest proven levels with the Fib retracement: having broken through the 0.236 level ($2816) moving towards the 0.382 level at $3193.21 which it may test, return to 50% of 3524, and then push upwards again. If ETH manages to break through the 0.382 level after testing it, we may see a run towards testing 0.5 at $3513.72, if that level is broken as well, we may see ETH head towards $3800 with little resistance.
Remember to take advantage of easyMarkets free limit orders on TradingView as the markets are currently characterized by uncertainty and prone to react to news regarding the Russian invasion of Ukraine or unforeseen changes in marcoeconomics.
SUPPORT 1: $2790.65
SUPPORT 2: $2155.62
RESISTANCE 1: $3193.21
RESISTANCE 2: $2513.72
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."