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XAU/USD Correction Nears End: Preparing for Further Downside?In my weekend analysis and yesterday’s video, I expressed the view that XAU/USD has turned bearish in the mid-term, with the potential for a drop below the 2475 support zone. After initially pulling back to the NFP low, the price rebounded and returned to my sell zone between 2505-2510 (as previously explained). However, this recovery from 2485 seems more corrective and overlapping in nature, lacking strong momentum. After reaching a local high near 2507, the price began to roll over again. Confirmation of a lower high and the end of this correction would come with a drop below 2500, which would once again expose the 2475 support zone. Additionally, a retest of this level could potentially lead to a break, bringing my mid-term target of 2440 into focus. At this point, I maintain my bearish outlook on gold and for the short term 2475 is my target.
OANDA:XAUUSDShort
by Mihai_Iacob
3
BTCUSDT Opportunity for a Drop from 60KBTCUSDT is trending downward toward the lower end of its consolidation zone. The market has been fluctuating between 52K and 72K since April. Now, it looks poised to retest the bottom of this range, especially after breaking and closing below the key psychological level at 60K. On the weekly timeframe, the price also broke and closed below the prior week's low, forming a significant bearish candle. This suggests that bearish momentum may continue. The target is the support level at 54,000
Short
by RTED_Investing
SOLUSDT Trend continuation tradeSOLUSDT has been ranging between the 140 and 160 levels, but it has recently broken and closed below this range. This indicates a shift in market dynamics. The market might be heading to retest the area where we observed a bullish impulse leg previously. The break below the upward trendline suggests that the price has entered a consolidating phase, which was signaled by the price being above the trendline and showing bullish momentum. Given this context, the market is expected to push a little further down towards a key round number, which could act as a psychological level of support. The target is support level at 120
Short
by RTED_Investing
DXY's Trend in Question: Support Holding, But Bulls need 102In my Friday analysis, I mentioned that if the DXY drops below the support zone, defined by the recent low and the year's starting price, we could expect further downside. Initially, following the release of the NFP data, the price did decline, but it quickly reversed after reaching the support level, forming a strong bullish reversal candle with a long tail on the chart. While we can't confirm a trend reversal yet and USD bulls are still not in out of the woods, as long as this support holds, there is a strong possibility of a move to the upside. For a clearer medium-term outlook, we need a break above the 102 level. If this happens, the path to 104 should open up, and we can expect the price to rise toward that zone.
TVC:DXY
by Mihai_Iacob
Bitcoin's Price Struggles: A Bearish Short-Term OutlookAfter dipping to 50k in early August, Bitcoin staged a recovery and climbed to 65k. However, the bullish momentum lacked follow-through, as buyers were unable to push past the resistance of a large flag pattern that has kept Bitcoin in a corrective phase for months. In the short term, Bitcoin’s price pulled back down from 65k, initially forming what looked like a falling wedge—a potential bullish reversal pattern. Unfortunately, this formation did not hold, and Bitcoin experienced another breakdown. Currently, the short-term outlook is bearish, with resistance around the 55,500-56k zone. Short-term traders may consider selling in this range, targeting a move back to 50k if a new leg downward materializes. This bearish scenario would be invalidated if the price stabilizes above the 58k level.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
Ethereum could test 2k zoneAt the beginning of August, ETH/USD broke below the crucial $2,900 support level, accelerating to the downside and reaching a low of $2,300. As expected, a recovery followed, with a retest of the broken level. However, despite two attempts by bulls to reclaim the newly formed resistance in August, both efforts failed, and the price subsequently rolled back down to the recent lows. Currently, Ethereum seems to be pressing downward again, and a break below the $2,350 zone could trigger a further correction toward the $2,000 level. I remain bearish as long as the price stays below $2,600.
COINBASE:ETHUSDShort
by Mihai_Iacob
2
SL Triggered, NFP Incoming: Will Gold Push to New Highs?Yesterday, I took a stop loss, which is, of course, a normal part of trading. What’s ironic, though, is that overall, I’m bullish on Gold. Even more ironic is the fact that in my Monday analysis, I mentioned that Gold would likely test the 2480 zone before continuing its upward trend. I even spotted the 'double Pin Bar formation' at the bottom, yet I remained short. Ultimately, my ego and the desire 'to be right'—thinking Gold would dip to the 2450 zone before reversing—got the best of me. Anyway, let’s move on to today’s analysis... As I mentioned earlier, after Gold fell into the significant support area around 2480 on Tuesday, the price bounced back to the upside. The following day, despite another wave of selling pressure, the price reversed again, leaving behind a 'Double Pin Bar' formation on the chart. Yesterday, the price broke above the 2505-2507 zone, which also confirmed a short-term double bottom formation. At the time of this article’s publication, the price stands at 2518, and the entire structure we’ve discussed is highly bullish. Looking ahead, as long as the 2505 level holds, the chances for a new all-time high are very strong. The measured target, should 2530 be breached, is 2590. Currently, I’m 'out of the market,' awaiting the NFP data for further clarification. I will update my analysis accordingly once the data is released.
OANDA:XAUUSD
by Mihai_Iacob
EurUsd- Buy dips for 1.12 retestIn my last EUR/USD commentary, I mentioned that the pair could reach 1.11. That target was not only met but exceeded, with a top at 1.12. The pair is currently in a normal corrective phase, and once this correction ends, EUR/USD could resume its upward movement. My strategy is to buy on dips near the 1.10 level, with the potential for a 1:3 risk-to-reward ratio depending on the stop-loss placement. Shorter-term traders could also consider the 1.11 level as a point to take profits.
Long
by Mihai_Iacob
2
Gold possible up correctionXAUUSD continues its downward movement, closing below the 2500 level and confirming a break out of the consolidation zone. With this momentum, the market is likely to head to lower levels. Although the major trend remains bullish, this correction might find support around the 2450 level. If the market retests this area and shows rejection signs, like a bullish long-tailed bar, it could offer a good buying opportunity. A strong rebound from the 2450 support could pave the way for a continuation of the bullish trend toward the all-time highs. The target is the resistance zone at 2505
FOREXCOM:XAUUSDLong
by RTED_Investing
Gold- Stuck in a newly established range. Will support give awayYesterday, Gold once again touched the critical support zone between 2470-2475, and, as before, bulls managed to defend it, causing a price rebound. While at first glance this support appears solid, I believe it will eventually give way, with the price likely dropping to at least 2450. Of course, I could be wrong, which is why I’ve set my invalidation level in the 2515-2520 zone. My swing trade strategy remains unchanged: sell into rallies.
OANDA:XAUUSDShort
by Mihai_Iacob
8
AUDUSD potential Breakout and RetestAUDCAD has broken and closed below its consolidation zone and is currently testing the resistance level around 0.91200. It seems to be pulling back for a retest at this level. The market is showing lower lows and lower closes, signalling bearish dominance. A break-and-retest scenario is expected, where the price might pull back to test the resistance before potentially continuing downward. This is a key level to monitor, as holding here could confirm the continuation of the bearish trend. The target is the support level at 0.90775
Short
by RTED_Investing
Gold - What to expect in September?XAUUSD spent the week in a consolidation zone, trading back and forth without notable progress. The price tested resistance several times, but we didn't see higher highs or closes. On the weekly chart, two doji candles in a row suggest a breakout—above or below last week's range—could be near. Based on price action alone, the market appears overextended, excluding fundamentals. Since March, only bullish months have been observed, with June neutral. A strong divergence on the weekly timeframe signals a possible pullback. Reviewing September trends from the last five years shows a bearish tendency, even amid a broader bullish trend. This pattern hints at a deeper pullback toward the 50% retracement of the previous month’s range. Still, caution is needed after two neutral weekly candlesticks to avoid chasing the market.
FOREXCOM:XAUUSDShort
by RTED_Investing
Nas100- Lower top in place?In early August, the NAS100 broke below the support line of a channel that had kept the tech-heavy index elevated for nearly a year. However, after reaching the horizontal support zone around the 17,000 level, the price quickly rebounded and returned to the key 20,000 area. Despite this recovery, the bulls couldn’t maintain momentum, and two days ago, the index once again dropped below the trendline. These movements suggest signs of weakness, and a further correction may be on the horizon. I’m looking to sell into rallies around the 19,200-19,300 zone, with a target at the recent low above 17,000.
PEPPERSTONE:NAS100Short
by Mihai_Iacob
1
TRXUSDT CorrectionTRXUSDT is currently pulling back after forming a double top at a resistance zone. The price is now testing a previous support level, and there is a chance it could dip below this support, given the liquidity below this level and near the February highs. The market has already seen a pullback of around 12%, with the potential to extend to a 15% pullback. This price action might develop into a trend continuation pattern, possibly forming a triangle as it consolidates. If the market finds sufficient buying pressure at these lower levels, it could set the stage for a future upward move. The target is the resistance zone around 0.1618
Long
by RTED_Investing
Bulls Held Their Ground, But Will the Ground Hold Them?In the past two days, I've emphasized the importance of the 2480 support zone, suggesting that the price was likely to test this level before potentially reversing. This prediction played out as expected, with XAU/USD indeed dropping to that specific zone. However, my bullish outlook has shifted, and here’s why: Failure to Break 2500: Most importantly, yesterday the price attempted twice to stay above the 2500 level but failed both times. The second attempt was met with aggressive selling, and that time support zone was hit. Signs of Distribution: Over the past three weeks, price action has been sluggish, resembling a distribution phase rather than accumulation. The lack of momentum in making a new all-time high is concerning. On the daily chart, while there is a Pin Bar that typically signals a reversal, it's of poor quality—featuring a red body and a large upper shadow ("nose"). In conclusion, I am now looking to sell above 2500, but I plan to keep a tight stop. Best of Luck! Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
9
DXY- Where to?After forming a double top above the 106 level, with the second top occurring at the beginning of July, the DXY (US Dollar Index) began to decline. After breaking the 104 neckline of this pattern, the index tumbled to the key support level at 100.50, which coincides with the price level from the start of the year. As expected, the price started to recover, and at the time of writing, it is trading at 101.66. Although there has been a rebound from support, it's too early to consider the trend reversed. For a confirmed reversal, the price needs to break back above the 102.50 zone. If this happens, the price could continue upward, with a longer-term target around the 106 level and an interim resistance at 104. Conversely, if the index fails to break above 102.50 and drops back to 100.50, there is a high probability of a further decline, with 98 as the next target.
TVC:DXY
by Mihai_Iacob
EURUSD Buy from the confluence zoneEURUSD closed bullish on the monthly timeframe but faced resistance and pulled back from that zone. The price is now retracing toward the psychological level at 1.1000, which acts as a key support area. On the daily chart, the market remains in a bullish trend, suggesting that this pullback could offer a chance for a rebound. The market may bounce off a confluence zone created by the lower channel boundary, a trendline, and the psychological level at 1.1000. This combination of support factors could provide a strong base for the market to continue its upward momentum. The target is the resistance zone at 1.11350
Long
by RTED_Investing
EURUSD - correction from the Resistance zoneEURUSD is currently approaching a weekly resistance level that was last tested in December 2023. Since this resistance level previously triggered a bearish reversal, we could see a potential short-term pullback or choppy price action in this area. The price might attempt a false breakout above both the channel border and the resistance level, which could lead to a short-term correction in the market. The target is the support level around 1.10500
Short
by RTED_Investing