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Gold → A Bear Wedge Pattern is forming. What's Next?OANDA:XAUUSD consolidating above the 2715 level, while simultaneously a bearish wedge pattern maintains the recent upward trend. Theoretically, the price will break the support level, creating a breakout at the 2715 zone. On the H1 timeframe, the support zone of 2715-2715 has formed and price is moving towards reacting at this support area. If buyers maintain this zone, price may retest the upper boundary of the rising channel or the important psychological level of 2748 before further decline. However, a breakthrough below this level will lead to an earlier price drop. Additionally, the USD is also consolidating above the support zone, creating a corresponding reaction in the gold market. Resistance levels: 2738, 2748, 2758 Support levels: 2716, 2703, 2693 I expect a correction following the false break of the 2715 level. Price consolidation below this level will lead to a deeper decline.
OANDA:XAUUSDShort
by Bentradegold
EURUSD → Efforts to shift the global trendFX:EURUSD breaking the boundaries of the prolonged downtrend channel, the pair is currently struggling below the resistance level at 1.0448, aiming for consolidation that could set the stage for a further rally of at least 100 to 200 pips. The global trend remains bearish, and it is still too early to confidently declare a reversal. Prices are facing significant pressure at the critical resistance level of 1.0448. However, signs of a potential breakout are beginning to emerge in this area. If the US dollar continues its corrective movement, EURUSD could have a chance to confirm a shift in the current trend. A decisive breakout above 1.0448, followed by consolidation, could pave the way for the next bullish momentum. Key levels to watch: Resistance levels: 1.0448, 1.0607 Support levels: 1.033, 1.0222 Currently, all eyes are on the critical resistance level of 1.0448. A breakout and stability above this level could provide an attractive entry point for long positions, setting the stage for the next phase of growth. Sincerely, Bentradegold!
Long
by Bentradegold
Gold prices continue to increase from the level 2675OANDA:XAUUSD continuing the uptrend in local and medium-term timeframes. The price is once again testing strong resistance levels on the H4 chart, with prospects for a breakout toward the 2700–2750 range. The US Dollar remains near weekly lows, touched after weaker-than-expected US PPI data on Tuesday, providing key support for the market, including gold. Attention now shifts to the upcoming CPI report, a critical release that could reshape market expectations for Fed rate cuts this year. A stronger-than-expected CPI could increase pressure on gold, while a weaker report would bolster buying momentum. Additionally, the Fed’s hawkish stance is supported by the premise that Trump, beginning his second term next week, may drive inflation higher with protectionist policies. From a technical perspective, significant volume lies ahead, which could trigger a minor pullback toward support before the uptrend resumes. Key short-term levels to watch: Support: 2678, 2670 Resistance: 2690, 2697 However, in both the short and medium term, everything hinges on the upcoming scheduled news. Stay focused on these critical levels, traders! Best regards, Bentradegold!
OANDA:XAUUSDLong
by Bentradegold
GOLD: Buy or Sell ?Dear friends, Ben here! Gold begins the new week with a slight decline, retreating from the one-month high reached on Friday. Hawkish expectations from the Fed, rising U.S. Treasury yields, and a stronger USD are weighing on the precious metal in the short term. On the other hand, risk-off sentiment might provide support for the safe-haven pair XAU/USD and help limit further losses. :) From a technical perspective, gold confirmed a bullish breakout from a month-long symmetrical triangle pattern on January 8, further reinforcing the ongoing bullish momentum. It is likely that the struggle will continue, and the price may retest the previously broken boundary or the liquidity zone at 2675–2665, which will determine the next phase of developments. Resistance level: 2698 Support levels: 2685, 2665 The situation remains volatile, as numerous factors are exerting pressure on the price. Accordingly: If, after the retest, buyers manage to hold the price above the 2680–2685 support zone, the upward momentum could continue in the medium term. However, if the bullish support structure breaks and sellers push the price below 2680, this could trigger a correction down to 2665 or 2650 before the uptrend resumes.
OANDA:XAUUSDLong
by Bentradegold
2
EURJPY → Consolidating before dropping to 157.00OANDA:EURJPY is under pressure. This currency pair has broken its local uptrend. In the context of weak fundamental and technical foundations, overall market pressure may be experienced. On the global timeframe, the pair lacks a clear trend and has been trading mainly within the range of 166 - 156. A closer look reveals that the recent growth attempt failed near the intermediate high. As the price approached a local resistance level, it reversed and stabilized below the EMA, moving toward the lower boundary of the flat range. Locally, a structural shift has confirmed the bearish nature of the market. However, before further declines, the price may form a corrective move. Using Fibonacci levels to measure this potential correction, the short-term levels to watch are 0.618 (161.75) and 0.5 (162.28). In the medium term, however, the decline may continue. Rate, share your opinion and questions, let's discuss what's going on with OANDA:EURJPY :) Regards R. Linda!
Short
by Bentradegold
Gold--> Retest the resistance level before declining!Hello, dear friends! This is Ben here! Gold prices continue their upward trend, currently hovering around 2671, with a modest daily increase of 0.05%. The chart indicates that gold is consolidating and attempting to approach the critical resistance level of 2675. The bullish market structure suggests that prices are gearing up for a potential breakout. However, the key question remains, will the breakout occur? This depends largely on external factors, including the U.S. economy's performance and the inflationary trends, which have been long anticipated by the market. Based on current market behavior, we might expect gold to test liquidity and recheck key resistance levels before any potential downward correction. Buyers are likely to exercise caution after disappointing inflation data from China and hawkish signals from the Federal Reserve's recent meeting minutes. Frankly speaking, I’m not overly optimistic about gold’s upward momentum at the moment, given the lack of strong bullish catalysts aside from lingering trade policies, such as Trump's tariffs on major global powers. Fundamentally, the dollar’s strength and the Fed's hawkish stance continue to cap significant gains for the precious metal. Resistance levels: 2675, 2680 Support levels: EMA 2665, 2655 From a technical standpoint, the market structure remains bullish, and in the short term, we could see an attempt to break through the 2675 resistance. If successful, prices may test the next areas of interest at 2680 or even 2692 (OB Zone),which could later result in a possible decline. Best regards, Bentradegold!
OANDA:XAUUSDShort
by Bentradegold
1
Key Support at 0.6179: Will AUD/USD Break or Bounce?Dear friends! Currently, AUD/USD is struggling to record any meaningful recovery and remains near multi-year lows. In this context, the Fed's hawkish shift has driven U.S. Treasury yields higher, supporting the USD. Concerns over the U.S.-China trade war and expectations of an early rate cut by the RBA continue to weigh on the Australian dollar. Therefore, we can say that the probability of further price decline in the medium-term outlook is quite high. As mentioned on the 4-hour chart, the current price is approaching the level of 0.6179. A consolidation pattern is forming ahead of a potential breakout related to this level. I do not rule out the possibility of the price retesting the EMA resistance or a local high before further breakdown. However, the overall technical and fundamental situation suggests a decline. Focus on the trigger level at 0.6179. A breakdown and price consolidation below this level will likely trigger a significant drop.
Short
by Bentradegold
GOLD → False Breakout. Can Buyers Recover?Hello, dear friends! Ben here! Gold has made a false breakout at $2,637 and is now searching for strong support. The current situation is highly complex, both fundamentally and technically. Fundamentally, the situation remains challenging. Gold's weakness is influenced by the Fed's hawkish stance and the strength of the US Dollar. However, upward pressure on gold persists due to other factors, including the escalation of conflicts in Eastern Europe and the Middle East, Trump’s protectionist policies targeting Europe and Asia, and rising geopolitical risks worldwide. Technically, after the false breakout at $2,637 (previously a resistance level), the price is now heading toward a new testing zone around $2,622. Below that, the ascending channel support at $2,606 could act as the lower boundary where buyers may start an aggressive play. Key Support Levels: $2,622, $2,606 Key Resistance Levels: $2,637, $2,647, $2,665 Overall, I lean toward a medium-term bearish trend. However, the local situation remains tense and complicated. If the bulls manage to hold their ground within the ascending channel, gold may continue its upward move. But! If buyers fail to maintain their position within the channel, a correction could extend the downward momentum further, leading to deeper declines. Best regards, Bentradegold!
OANDA:XAUUSDLong
by Bentradegold
USDJPY → Consolidating Before the Next Rally.Hello, dear friends! Ben here! USD/JPY is consolidating after a strong bullish run, fluctuating around the 157.75 level. The Japanese Yen continues to weaken amid wavering expectations regarding a potential rate hike by the Bank of Japan (BoJ). The Jibun Bank Japan Services PMI was revised lower to 50.9 from 51.4 in December. Meanwhile, the US Dollar remains near a two-year high, supported by the Fed's hawkish shift, further bolstering the USD/JPY pair. Currently, the focus is on the consolidation phase, which has been forming over the past few weeks. We have clear boundaries, trends, and key levels to guide our trading decisions. For me, the trigger lies at the 158 resistance level. A breakout and price consolidation above this level would confirm that the pair is ready to push higher. This rally is expected to reach the upper boundary of the ascending channel around 159, completing wave 5 within the channel. Regards !
Long
by Bentradegold
3
GOLD Update: Should I buy it?OANDA:XAUUSD continues to attract attention even as the US dollar strengthens, fueled by ongoing geopolitical and economic crises that drive demand for safe-haven assets. Prices are consolidating above previous resistance levels and are pushing toward establishing new local highs. As for gold's price volatility, the upcoming week will feature several key US economic data releases, including employment reports and the Federal Reserve's meeting minutes. These updates are expected to provide investors with greater clarity on the Fed's monetary policy, especially following projections of interest rate cuts in 2025. Regarding the gold strategy for the new week, Ben personally prioritizes buying strategies if the price remains within the wedge, targeting at least the upper boundary of the price channel. This anticipated upward move is expected to reach the level of 2690.
OANDA:XAUUSDLong
by Bentradegold
EUR/USD --> The Bears Are Applying Strong PressureFX:EURUSD in a strong downtrend, the market has just set a new local low with no signs of stopping. What lies ahead? The Euro is under significant pressure against the strength of the US dollar, which has been bolstered by the aggressive economic policies from the Trump era. The rising greenback has not only diminished the Euro's appeal but has also added further turbulence to the forex market. Under current conditions, the 1.1000 level has emerged as a critical point, drawing significant attention from major institutional players in the market. Resistance levels: 1.033, 1.0448 Support levels: 1.000 From both a technical and fundamental perspective, the outlook remains weak. As such, emphasis should be placed on strong resistance levels where the downtrend is likely to resume.
Short
by Bentradegold
GOLD → A reversal pattern for a further fallHello, my wonderful friends, Ben here! Gold prices are currently testing key levels of interest during a corrective phase against the trend, following a breakout from a significant level. The fundamental backdrop is not particularly favorable, with the market under consistent downward pressure. The bearish sentiment around gold is intensifying as U.S. Treasury yields continue to climb, and the USD strengthens toward the end of the week, reducing the appeal of the precious metal. Notably, the US Dollar Index has recorded its fourth consecutive week of gains, while the 10-year U.S. Treasury yield remains near its highest level since early May. Looking ahead, the market's focus remains on the return of President-elect Donald Trump and the potential impact of his inflationary policies, which could have significant implications for the Federal Reserve's outlook in 2025. Stay cautious! From a technical perspective, the price is currently trading within a short-term descending channel, formed after the termination of a rising wedge pattern. The outlook suggests a higher probability of further declines. The 2622 level is a critical threshold—if sellers maintain pressure below this zone, the downtrend could extend further, with potential targets at 2605 and 2596, among others. Best regards, Bentradegold!
OANDA:XAUUSDShort
by Bentradegold
Gold Prices Today (December 31): Broad Decline Across the BoardHello, dear friends! Ben here! Spot gold has successfully climbed past the $2,600 mark during the U.S. trading session, continuing its retreat from Friday's peak of $2,638. Driving the current sentiment is the U.S. dollar (USD), which gained strength as Wall Street opened amidst lackluster performance in local indices. Weak trading volumes further intensified the drop in equities, fueling a short-term rally in the USD. Yet, despite these temporary setbacks, the three major indices are on track to close another year with impressive gains. Meanwhile, market participants are shedding high-yield assets as uncertainty looms over what 2025 may bring. The Federal Reserve (Fed) has signaled its intent to slow the pace of rate cuts, given that inflation remains stubbornly high. Adding to the tension, former President Donald Trump is set to return to the White House on January 20, with his anticipated protectionist policies likely to exacerbate inflationary pressures in the years ahead. Given these dynamics, a bearish outlook on gold remains dominant in the short and medium term. Attention is centered around the 2,610 resistance level—so long as sellers defend this zone, gold appears poised to decline further, with potential targets in the 2,596–2,587 range. What are your thoughts? Share your insights, forecasts, and questions—let’s explore the ongoing dynamics of XAUUSD together!
OANDA:XAUUSDShort
by Bentradegold
GOLD NEXT MOVE (expecting a bearish move) (30-12-2024)Go through the analysis carefully and do trade accordingly. XAU/USD Analysis - December 30, 2024 Current Price: $2626 "If the price remains below $2642, the next targets are $2612, $2589, and there is a possibility of staying above $2550." - POSSIBILITY 1: Wait (as geopolitical tensions are worsening) - POSSIBILITY 2: Wait (as geopolitical tensions are worsening) Best of Luck! Always remember: Never risk more than 1% of your capital on any trade. If you find this analysis helpful, please support us by liking and sharing this post!
OANDA:XAUUSDShort
by Bentradegold
Gold → A Buying Opportunity or a Market Trap?OANDA:XAUUSD continuing to bring hope for buyers, trading inside the local upward channel resembles a flag on the backdrop of a local downtrend. In the medium term, the dollar needs to be reassessed in the context of the Fed remaining supportive. This raises the question: What will happen to interest rates? Hold steady or increase? It must be understood that as Donald Trump prepares to return to the White House in January, the market will closely monitor U.S. economic data to forecast how the Federal Reserve will respond to anticipated inflationary pressures from administration policies, including tariffs, deregulation, and tax reform. The focus remains on U.S. jobless claims data. Economists polled by Reuters forecast around 224,000 claims for the week ending December 21, up from 220,000 claims in the week ending December 14. If jobless claims figures rise significantly, this will put pressure on the USD, and the gold market may start trading with a slightly positive trend. And vice versa. However, Ben does not talk about growth based on these numbers. Theoretically, as prices approach strong resistance levels, selling pressure seems stronger. Be careful! From a technical perspective, the price has the potential to rebound from any nearby strong level, which could lead to a subsequent decline. A key level to watch is 2620. If the bears manage to break this level and maintain their position below it, the overall selling pressure may intensify, likely resulting in a further price drop. The anticipated decline is expected to reach the range of 2,605–2,600 before setting up for any additional downward moves. Best regards,Bentradegold! Wishing everyone a joyful holiday season and a productive New Year 2025!
OANDA:XAUUSDShort
by Bentradegold
1
USD/JPY – Just One Step Away from a Drop!Dear Traders, After a notable rally late last week, USD/JPY appears to have lost its momentum. Observations suggest that Wave 5 has completed, paving the way for a potential corrective decline, which aligns perfectly with the classic wave structure. We can now anticipate a downward correction, likely targeting the 155.95 zone initially. Following this, we might see further bearish consolidation below this level, aiming for the liquidity area around 152.85, a region that buyers have yet to revisit, and is currently taking shape. Remember, this is just the starting point of our analysis journey. We will provide regular updates so you can stay informed and adjust your strategies accordingly. Stick to the plan and trade carefully!
Short
by Bentradegold
2
How does gold price change on weekends? What should you note?Hello everyone, Ben here! Last week, we witnessed a significant drop in gold prices. At one point, gold prices fell to a low of $2,583. Currently, gold is trading around $2,627, stabilizing over the week. It is clear that the hawkish signal from the Federal Reserve (Fed) last week, indicating that they will slow the pace of rate cuts in 2025, supported the US Dollar (USD) to remain near its two-year high and acted as a drag on the non-yielding gold metal. Additionally, a positive risk trend contributed to limiting the gains of this precious metal. However, geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East, along with fears of a trade war, continue to provide some support for gold as a safe-haven asset. Furthermore, a modest pullback in US Treasury yields has supported a mild buying tone amid thin trading volumes during Christmas Eve. Therefore, it would be wise to wait for some follow-through buying before positioning for any further recovery from last week’s one-month low. The projected price increase is expected to reach $2,650. What do you think about this? Sincerely, Bentradegold!
OANDA:XAUUSDLong
by Bentradegold
GOLD → One final step remains before a drop. The target is 2587.Hello, dear friends! Let’s discuss and strategize today's gold trading opportunities with Ben! As predicted yesterday, gold prices dropped to $2,608, delivering a profit of approximately 200 pips. This decline was driven by pressure from Wall Street’s underperformance, which bolstered the strength of the US Dollar and Treasury yields. Investors are now eagerly awaiting clearer signals about the Federal Reserve’s monetary policy for 2025. In reaction to these developments, the US Dollar Index rose by 0.4%, hovering near its highest level in over two years. This diminished gold's appeal for holders of other currencies. Additionally, the yield on 10-year US Treasury bonds increased, adding further weight to gold prices. Looking ahead, the market remains focused on the outcomes of last week's Federal Open Market Committee (FOMC) meeting. A more gradual rate hike trajectory for 2025 is currently under discussion, with speculation that the Federal Reserve may pause interest rate changes in January or March. From a theoretical perspective, in the face of a strong US Dollar, gold has limited upside potential. If sellers maintain resistance below $2,620 and push to break the support level, the pair could target $2,587 in the medium term. Best regards, Bentradegold!
OANDA:XAUUSDShort
by Bentradegold