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Gold could rise to 2460After a significant drop of nearly 1,000 pips last Monday, gold has established strong support at 2,380 and began to recover mid-week, reaching the 2,430 resistance zone. The recent pullback from this resistance found support at 2,415—a level that has served as both support and resistance since the beginning of the month. Once again, support has formed higher, this time at 2,420. At the time of writing, the price is hovering around 2,435, and we could see a clear breakout to the upside in the hours. My strategy is to buy on dips, and I will remain bullish as long as the price stays above 2,415.
OANDA:XAUUSDLong
by Mihai_Iacob
18
Gold- Time for new leg down?In my analysis yesterday, I mentioned that gold could reverse above 2400 and rise to the key resistance zone between 2420 and 2430. However, swing traders should look for selling opportunities in this zone rather than buying in anticipation of hitting resistance. Indeed, the price has moved into this zone, and my strategy remains the same: sell rallies in the area of yesterday's highs. This outlook would only be invalidated if the week's close is near 2440.
OANDA:XAUUSDShort
by Mihai_Iacob
6
Is Gold forming a double top?Last week, Gold seemed poised to reach a new all-time high. However, after a spike following Friday's Non-Farm Payroll (NFP) report, the price fell dramatically. Although the daily close resulted in a Doji candle on our chart, the daily volatility, measured from top to bottom, was 600 pips. Monday was another extremely volatile day, with a daily range of nearly 1000 pips. The following days showed more manageable volatility but increased selling pressure. Currently, bulls are trying to reclaim the 2400 level, but the overall outlook remains bearish. I am looking to sell during rallies, with my ideal entry point being in the 2420-2430 range. My initial target is 2360, and a drop below this level could lead to a decline below 2300.
OANDA:XAUUSDShort
by Mihai_Iacob
1
Gold is pressing for a break, will NFP bring new ATH?Yesterday was a highly volatile day for gold. Initially, XAU/USD experienced a drop in support. However, it quickly reversed its trend and moved upward. After reaching 2460, the price fell sharply back to support levels. Overnight, another drop to support was met with strong buying power, resulting in a long-tailed pin bar on the hourly chart. At the time of writing, the price has returned to resistance (2460 zone) Judging by the price action over the past 24 hours, I believe gold is poised for an upward break. If I'm correct, the measured target is 2490, and we could even see 2500 today if there is a genuine break and the NFP report surprises.
OANDA:XAUUSDLong
by Mihai_Iacob
5
UsdCad- Will it finally break 1.4? (Swing trade idea)USD/CAD is currently trading around the 1.3850 resistance zone, a level that has been tested repeatedly since September 2022, each time resulting in a decline. However, this year, after testing this resistance, the bears haven't managed to push the price down to its previous support levels. Instead, a higher support has formed at 1.36. The recent rise from 1.36 has been impulsive, suggesting strong upward momentum. This leads me to believe that a break above the current resistance is likely, potentially pushing the price above 1.4. In conclusion, dips towards 1.37 should be considered buying opportunities, aiming for a favorable risk-to-reward ratio with a target around 1.41.
Long
by Mihai_Iacob
4
It's imperative for bulls to hold 63.500 In my weekend analysis, I mentioned that BTC looked bullish across all time frames. The beginning of this week was promising for BTC, but enthusiasm faded at 70k, and the price started to decline. Currently, the price is at 64k, just above the 63,500 support level. This support is crucial for the medium-term price evolution. If the bulls cannot maintain the price above this level, we might see a drop below 60k, potentially negating my prediction of 100k by the end of the year. At this moment, I'm neutral on BTC. If the price breaks below the support, I will exit with a loss. Only a return to the 68-69k zone would bring some optimism back.
BITSTAMP:BTCUSD
by Mihai_Iacob
16
Gold Ends Month on a High Note with Key BreakoutsGold finished the month on a very optimistic note, reversing 1000 pips from the recent low. More importantly, the month-end brought three significant breaks for bulls: 1. A break above the 2390 confluence resistance. 2. A break above the 2400 psychological level. 3. A break above last week’s high of 2430. With this positive momentum, further gains and a test of the 2500 level are expected soon. Technical Outlook and Strategy: From a technical standpoint, the recently broken resistance levels should now act as support. In this zone, I will look for buying opportunities. The initial target could be the last all-time high (ATH), but if the price continues rising toward that zone, I believe it will break above it. Consequently, bulls are likely to push the price above 2500 to test new highs. Overall, the current market sentiment and technicals suggest a strong bullish trend for Gold, making it an attractive prospect for traders looking for buying opportunities.
OANDA:XAUUSDLong
by Mihai_Iacob
5
Silver- Ready for 35usd A few months ago, I wrote an XAG/USD analysis, predicting that Silver could rise by 10,000 pips to reach 35. Achieving such a significant target requires patience, and the price won't climb in a straight line. However, my long-term conviction remains unchanged: Silver will likely rise to 35 USD/oz. But as Keynes said, "In the long run, we are all dead," so let's focus on the short term. Recently, as shown in the posted chart, Silver broke below horizontal support. However, after a bullish Pin Bar formation a few days ago, the price reversed strongly and is now trading back at the old support, which has become resistance. This suggests the possibility of a false break. At this moment, given the proximity to resistance, a correction is possible. However, this correction should be seen as a good opportunity to buy in anticipation of a false break. Depending on your patience, you could set your target at 30, 32, or my long-term target of 35.
OANDA:XAGUSDLong
by Mihai_Iacob
3