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Gold Prices Rebound but Bearish Trend DominatesGold prices extended their recovery momentum on Wednesday, gaining over 70 pips during the early session and hovering around $2,639. While the precious metal shows signs of short-term strength, the broader trend remains favorable for sellers. Gold’s recent rally stems from a weakening U.S. dollar, as investors took profits following last week’s sharp dollar gains. Since gold is dollar-denominated, a weaker dollar makes it more attractive to buyers using other currencies. Geopolitical tensions also continue to provide support, with the next target set at the $2,665 resistance level. Should gold breach this level, further recovery may follow. However, if resistance holds, the primary bearish trend suggests prioritizing selling opportunities.
OANDA:XAUUSDShort
by Veda_Solomon
7
EURUSD Is Very Bullish! Buy! Please, check our technical outlook for EURUSD. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 1.056. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.057 level soon. 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!
Long
by SignalProvider
1
GBPUSD Is Going Up! Long! Here is our detailed technical review for GBPUSD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.266. Considering the today's price action, probabilities will be high to see a movement to 1.281. 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
1
AUDCHF Will Go Higher! Buy! Here is our detailed technical review for AUDCHF. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 0.573. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.576 level. 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
EURUSD today The EURUSD pair remains under significant bearish control, consolidating just above the critical support level near 1.0527. Despite a slight recovery, the overall trend continues to favor sellers, with the recent pullback likely to face resistance around the 1.0775–1.0868 zone. Key Technical Insights: Downward Momentum: The pair has been unable to sustain any significant upward movement, with each rally being met by selling pressure, maintaining the dominant bearish structure. Resistance Levels: The 1.0775 and 1.0868 zones represent formidable barriers, with a rejection at these levels expected to reinforce the downward trend. Target Levels: A breakdown below 1.0527 could open the path toward the psychological level of 1.0500 and further extend losses toward 1.0300. Outlook: Traders should monitor any attempts to retest the resistance zones for potential sell opportunities. As long as EURUSD remains below 1.0775, the pair is likely to stay on its bearish trajectory.
by Veda_Solomon
SILVER Will Go Higher From Support! Buy! Please, check our technical outlook for SILVER. Time Frame: 15m Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 31.396. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 31.547 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:XAGUSDLong
by SignalProvider
8
GBPCAD Will Go Up From Support! Long! Take a look at our analysis for GBPCAD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 1.772. The above observations make me that the market will inevitably achieve 1.782 level. 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!
Long
by SignalProvider
1
Gold Price Outlook: Testing Resistance and Potential DeclineThe gold market is displaying a recovery after recent losses, currently hovering near $2,645. However, the upward momentum is now approaching a critical resistance zone. Market Highlights: Resistance Zone: Gold faces significant resistance near $2,645-$2,650. A rejection at this level could trigger a downward retracement. Support Levels: The support zone near $2,575-$2,550 remains key for the current trend's stability. Volume Insight: Increased trading volume around the resistance level hints at a potential breakout or sharp reversal. Trading Strategy: Sell on Resistance Rejection: Monitor for bearish signs near $2,645, targeting $2,575 with a stop-loss above $2,650. Buy on Retracement: If prices pull back to the $2,575-$2,550 support zone, look for long opportunities targeting $2,645, with a stop-loss below $2,540. While the bullish recovery is encouraging, a clear break above resistance is needed to confirm further upside potential. Traders should stay vigilant as market sentiment evolves.
OANDA:XAUUSDShort
by Veda_Solomon
XAUUSD 17/11/24Following the previous weeks' analysis, we are once again adhering to the bearish narrative for this pair. Many traders have attempted to go long despite the pair showing strong bearish momentum. In my opinion, this is due to a couple of major factors. Firstly, gold is considered a safe haven, and as the market becomes more fluid, liquidity is being redirected to other assets that may carry slightly more risk. Secondly, the election of Donald Trump as president has bolstered confidence in the economy, further contributing to this liquidity shift. While gold remains a reliable safe haven, these factors have influenced its price movements. It’s important to note that this view is based on my perspective. Over the past few months, gold prices have surged significantly, making a corrective move almost inevitable. As mentioned in the EUR/USD market analysis, we are maintaining a bearish outlook here as well. After sweeping the daily low—indicated by the arrow on the left-hand side—the market experienced a short-term push to the upside. This move has swept liquidity, and we are now anticipating a reallocation higher within the short-term range that has been established. Within this range, there is an unmitigated supply area similar to what was observed on the previous chart. We expect the price to run through the short-term highs located in the middle of the range before initiating a sell-off near the upper boundary. However, there is also a possibility that the sell-off could occur earlier, without pulling back into any of these areas. Should that happen, the chart will need to be updated accordingly. Our overall targets are the liquid highs at the upper end of the range, followed by a continuation to the downside, with the price running the marked low and sustaining its bearish trend until the bias shifts. Trade safe and stick to your plan.
OANDA:XAUUSD
by PipSurfingSociety
DXY Will Go Up! Long! Please, check our technical outlook for DXY. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 106.671. Taking into consideration the structure & trend analysis, I believe that the market will reach 107.136 level soon. 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!
ICEUS:DXYLong
by SignalProvider
1
GOLD Will Move Higher! Buy! Here is our detailed technical review for GOLD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 2,563.433. Considering the today's price action, probabilities will be high to see a movement to 2,641.101. 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:XAUUSDLong
by SignalProvider
2