Gold Spot / U.S. Dollar forum
XAUUSD posible to 2900 if ...
XAUUSD Gold Market Update – January 9–10, 2025 (READ BEFORE DECIDING) 📉This is not financial advice. Always make your own decisions.
Overview: Corrective Wave 4 Underway
Gold has bounced back to $2,678, signaling the potential for a final push higher toward $2,725. If $2,725 holds, it would likely confirm this move as part of Wave 2 of C, with the larger downtrend resuming. However, if $2,725 is decisively broken, it could point to a more complex larger Wave B, delaying the anticipated Wave C drop.
The larger trend remains bullish, but the daily and intraday timeframes continue to reflect bearish momentum consistent with a corrective Wave 4. This correction appears to be forming an ABC zigzag, with $2,420 as the likely downside target before the next bullish Wave 5 can begin.
Gold is currently consolidating near $2,635, trading within a $2,615–$2,665 range, which reflects the sideways action typical of corrections. However, lower highs continue to form, underscoring the bearish sentiment.
Key Price Levels 🔑
Resistance Zones: $2,678, $2,694, $2,725
Support Levels: $2,615, $2,420
The key support zone at $2,420 remains the ultimate downside target for this correction. Traders should remain cautious of any sustained upside moves beyond $2,725, which would require a reassessment of the wave structure.
Upcoming News: Key Catalysts for Gold (January 10)
Tomorrow’s economic calendar features critical data releases, including the Unemployment Rate and Non-Farm Payrolls (NFP). These reports could provide the catalysts for gold’s next major move:
Unemployment Rate:
A lower-than-expected figure would reinforce dollar strength, pressuring gold further. Conversely, weaker data could lead to a short-term bounce, but significant resistance zones remain intact.
Non-Farm Payrolls (NFP):
This is the most impactful release of the week.
Strong jobs growth would likely push gold lower, reinforcing the bearish case and accelerating the correction toward $2,420.
Weaker jobs data could provide temporary upside momentum, with the potential for gold to test $2,725 or even higher if sentiment shifts.
These releases are pivotal in determining whether the corrective Wave 4 continues lower or transitions into a more complex correction. As always, Elliott Wave analysis requires adaptability, and traders should remain flexible.
What This Means for Traders
Short-Term Traders 📉:
Focus on the $2,678–$2,725 resistance zone for potential short setups. If gold exhausts below $2,725, it will likely confirm the continuation of Wave C downward. However, a break above $2,725 would indicate a more complex Wave B is in play, requiring a reassessment of the structure.
Long-Term Investors 💰:
Patience is critical. The larger bullish trend remains intact, but this corrective Wave 4 needs to play out fully before building long-term positions. $2,420 remains the primary level to watch for stronger buying opportunities.
Key Takeaways 📝
Gold’s bounce to $2,678 and the potential push toward $2,725 align with the ongoing corrective Wave 4, targeting $2,420 as the likely endpoint. While the larger trend is bullish, the current bearish momentum reflects the natural correction phase before the next bullish Wave 5.
If $2,725 holds, it would confirm this as Wave 2 of C, and the downtrend would resume. However, if $2,725 breaks, it signals a more complex larger Wave B, delaying the drop to $2,420.
Tomorrow’s Unemployment Rate and NFP data will likely serve as critical catalysts for gold:
Strong U.S. data will validate the bearish case, accelerating the move toward $2,420.
Weak data may lead to a test of $2,725 or higher, though significant resistance would need to be cleared to change the broader outlook.
Short-term traders should prioritize resistance zones for potential short entries, while long-term investors should remain patient for deeper corrections to maximize opportunities.
Stay flexible, stay informed, and follow for updates.
GOLD put your trades of buy now and make the SL at 2661 and tp must be 2675 and I hope that you will make awesome profitGOLD when the market will off and when it will open you will see that market will be above than 2675 and touch 2680
GOLD pretty good reversal zone on the daily fillinf the fvgps. stop listening to scammers here
XAUUSD I told you guys about goldXAUUSD see the Gold buyGOLD the persons who are holding Thier trades of buy may don't be worried because market will move up
XAUUSD I shared my 1-hour timeframe analysis with you, and the market moved in alignment with the analysis. I hope you will support me in growing further, and in return, I will continue to provide valuable signals and analysis to assist you.