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GOLD MARKET ANALYSIS AND COMMENTARY - [January 20 - January 24]This week, OANDA:XAUUSD fluctuated strongly, increasing from 2,656 USD/oz to 2,724 USD/oz, then decreasing and closing at 2,702 USD/oz. The main reason is due to the prediction that Donald Trump may implement his tariff commitments after his inauguration, increasing the risk of inflation in the context of the FED maintaining current interest rates. If this policy is implemented, the risk of a US-China trade war and global economic instability will increase, even leading to stagflation. These factors may continue to support gold prices to increase next week. Mr. Trump can promote expansionary fiscal policy, increasing US public debt and the risk of global financial instability, thereby strengthening gold's role as a haven. However, next week's gold price may decrease if Mr. Trump delays or delays the imposition of tariffs, although this possibility is considered very low. In the short term, gold prices may increase with the USD due to the impact of Mr. Trump's policies, instead of having a negative correlation as before. However, in the long term, if inflation increases sharply, forcing the FED to raise interest rates to curb inflation, this will put downward pressure on gold prices. Next week, in addition to Mr. Trump's inauguration, the US will also release weekly unemployment claims and S&P Flash PMI data and existing home sales... However, these economic data may will not have much impact on the gold price trend next week. 📌In terms of technical analysis, if the gold price next week surpasses the threshold of 2,725 USD/oz, it can continue to conquer the strong resistance area at 2,790 USD/oz, and the gold price next week could even exceed 2,800 USD/oz. /oz if Mr. Trump's tariff commitment comes true after his inauguration. Meanwhile, the important support level for gold price next week is at 2,650 USD/oz. (Around the moving average EMA34, 89) Notable technical levels are listed below. Support: 2,700 – 2,693 – 2,676USD Resistance: 2,730 – 2,750USD SELL XAUUSD PRICE 2791 - 2789⚡️ ↠↠ Stoploss 2795 BUY XAUUSD PRICE 2649 - 2651⚡️ ↠↠ Stoploss 2645
OANDA:XAUUSD
by Xayah_trading
NAS100USD Is Going Down! Short! Take a look at our analysis for NAS100USD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 21,454.6. The above observations make me that the market will inevitably achieve 20,638.8 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
OANDA:NAS100USDShort
by SignalProvider
4
USDCAD Will Grow! Long! Please, check our technical outlook for USDCAD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 1.448. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.469 level soon. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
USDJPY Retest Completion and Bounce BackThe USDJPY pair is currently trading at a price of 156.000, with a target price set at 162. This suggests a potential gain of over 500 pips, indicating a significant upward movement. The market analysis highlights that the pair has recently completed its retesting phase at a critical support level. This retest confirms the strength of the support, as the price has now started to bounce back from this zone. The pattern identified is based on support and resistance, a common and reliable technical strategy in forex trading. A bounce from support often signals a bullish trend, making this an opportune time for buyers. Traders may view this as a favorable entry point, with the potential for strong gains. However, proper risk management and market monitoring are crucial. The setup aligns with technical indicators supporting the bounce scenario. The movement suggests the pair is regaining bullish momentum.
Long
by AndrewsMarket-Mastery
SOLUSDT Ready to Soar? Wave 5 Points to +30 % Upside PotentialHey Realistic Traders, Will BINANCE:SOLUSDT Create New All-Time High? Let's dive into the analysis... Analyzing Solana's (SOLUSDT) price movements using Elliott Wave Theory indicates the potential for a significant upside in Wave 5. Wave 3 previously extended beyond the 1.618 Fibonacci extension, classifying it as an extended wave. Following this, Wave 4 retraced approximately to the 0.618 Fibonacci level, forming a falling wedge pattern, which is a bullish signal. The breakout from this falling wedge on the 4-hour chart, combined with a bullish divergence in the MACD indicator, suggests the possible initiation of Wave 5. However, as Wave 5 is expected to be a standard wave rather than an extended one, its movement may be relatively limited compared to the high of Wave 3. Based on these technical signals, the price is projected to rise toward the $302.46 target , provided it holds above the critical stop loss level of $175.28. Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below. "Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Solana".
Long
by financialfreedomgoals101
4
Lingrid | ADAUSDT closed ABOVE the Pscyhological LEVELBINANCE:ADAUSDT market broke through the psychological level of 1.000, closing above it. Although it retested the previous resistance zone, it encountered a pullback that formed a false breakout. This could signal a potential retest of the area just below the even handle number at 1.000 before the price moves higher. When we zoom out, we can observe that accumulation is taking place around the 1.000 level, which suggests that we may see further bullish movement in the near future. My goal is resistance zone around 1.2000 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
9
Lingrid | DOGEUSDT Potential Channel BREAKOUT. Long BINANCE:DOGEUSDT broke and closed above the key level at 0.3500, showing strength. Currently, the price action is testing the channel border and resistance within the 0.3700-0.3800 range. It appears the market took liquidity below the previous week's low, potentially creating a false breakout. As such, the market is now testing the previous week's high. We had a consolidation phase since the beginning of January, therefore I anticipate the market to break out of the downward channel and retest the trendline. My goal is resistance zone around 0.4300 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
9
ETHUSD Will Go Lower From Resistance! Sell! Here is our detailed technical review for ETHUSD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 3,267.2. Considering the today's price action, probabilities will be high to see a movement to 2,920.3. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
BITSTAMP:ETHUSDShort
by SignalProvider
2
GBPUSD Will Go Up From Support! Buy! Take a look at our analysis for GBPUSD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.216. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.251 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
5