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XAU/USD Before the Break: Awaiting a Breakout or Correction?The XAU/USD chart is weaving a dramatic story as gold prices hover around $2,661.865. This is a sensitive moment with buyers holding control but facing a major challenge – breaking the key resistance at $2,684.675 and continuing their journey toward the peak at $2,710.715. The EMA 34 ($2,653.217) and EMA 89 ($2,635.299) serve as “solid shields,” supporting the current uptrend and providing a strong base for buyers. The strong support at $2,637.457 also acts as the “final fortress,” preventing a deeper correction. If the price breaks this resistance, an "explosive surge" could occur, opening up golden opportunities for investors. Today is a critical trading day, with the US Non-Farm Employment Change data about to be released. This is one of the indicators that significantly impacts the market, especially the currency pairs related to USD.
OANDA:XAUUSDLong
by Zola_Hello
Cup and Handle: Potential Breakout for GoldOn the 4-hour chart of gold, I am predicting a “Cup and Handle” pattern forming, with a strong breakout potential. This pattern is often a sign of further upside, especially when it is confirmed by a breakout above the resistance line. Recent news suggests that geopolitical instability could be a major factor pushing gold prices higher. For example, escalating tensions in the Middle East, especially armed clashes between regional powers, have prompted investors to seek gold as a safe haven. In addition, concerns about delays in tightening monetary policy by major central banks have also increased the appeal of gold.
OANDA:XAUUSD
by Naoomi
XAUUSD: New Day Trading Strategy!Currently, XAUUSD is hovering around the 2662 USD mark, and it seems that the price has remained relatively stable over the past few days. On the other hand, the resistance level at 2670 is acting as a significant barrier to upward momentum. Interestingly, XAUUSD is forming a green candlestick right above the parallel wedge. If this candle closes above the wedge, we could fully expect a strong breakout, aiming for new profit targets. Additionally, the positive signals from the EMA 34 and 89 are reinforcing this view, indicating a clear upward trend. Investors might consider opening BUY positions on shorter timeframes, once the price confirms a breakout from the current range, provided that the support level around 2654 USD holds firm.
OANDA:XAUUSDLong
by ConanTradingFX
BTC reversal soon??Divergences between price and RSI can often show that a trend is coming to an end and a new one is beginning. In this case we can see that RSI on the 4H timeframe hit the oversold zone, and has been steadily climbing out of it ever since. However, we can see that price has continued making lower lows and lower highs... The price and the oscillator are out of phase and in this case as RSI grows larger but price continues to drop it's a bullish divergence signal and this suggests a trend shift from bearish to bullish. Divergences are not perfect, no indicator is but this can be paired up with other signals for confluence, RSI being at the oversold zone is a good indicator that the bulk of the move is done, especially now that RSI has climbed out of it. The green box is showing a bullish orderblock, all 3 wicks have bounced off this zone and therefor suggests support also. My feeling is that geopolitical worries have shaken the traditional markets and that uncertainty has spilt over into crypto, fundamental influences will effect the charts no matter how good the technical analysis may be. If we weather this storm and the situation doesn't escalate the TA suggests the worst has been and gone.
by ProR35
US30 Is Very Bearish! Sell! Here is our detailed technical review for US30. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 42,103.5. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 41,765.3 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!
OANDA:US30USDShort
by SignalProvider
1
XAUUSD todayHello everyone, Gold prices today continue to slide, dropping to $2,642, down 0.6% on the day. This decline is largely driven by the U.S. Dollar (USD) extending its strong recovery, after hitting its lowest point since July 2023, now reaching its highest level in three weeks. This comes amid fading expectations of the Federal Reserve (Fed) implementing further aggressive monetary easing. Moreover, gold closing below the $2,650 mark signals that the precious metal is entering a short-term bearish zone, with the next target expected to hit $2,630. What are your thoughts on the current gold price situation?
OANDA:XAUUSDShort
by ConanTradingFX
ETHUSDT Today’s ETHUSDT analysis shows a potential bearish continuation. After a sharp 10% drop, the price is hovering around $2,390, signaling more downside risks. The chart indicates that ETH might enter a consolidation phase, with the price likely retesting the resistance zone between $2,839 and $2,535 before making another move lower. Key Levels: Resistance Zone: $2,839 to $2,535 Support Zone: $1,550 (major support zone highlighted below) Trading Strategy: Bearish Setup: If ETH struggles to break through the resistance zone, it may lead to further declines, potentially dropping to the support level at $1,550. Traders could look for shorting opportunities near the resistance around $2,839 with a target of $1,550. Stop Loss: Place the stop loss just above the $2,839 resistance to protect against any unexpected breakouts.
by Suyouu
BTCUSD: How to trade ?Today’s analysis for BTCUSDT based on the chart shows a potential continuation of bearish momentum. The price has been rejected at a resistance level around $63,000, highlighted by the red arrow and labeled "Resist". The current price is hovering around $61,100, and we observe that BTCUSDT is struggling to break back above this resistance zone. Key Points: Resistance: $63,000 is acting as a strong resistance level. Support: There is a crucial support zone around $54,300, as shown in the green area on the chart. Strategy: Bearish Scenario: If BTCUSDT fails to break above the resistance around $63,000, a further drop towards the support level at $54,300 is likely. Consider short positions below the resistance level with a target near the support zone. Stop Loss: Set above $63,000 to mitigate risks in case of a breakout. Bullish Scenario: If there is a clean break above the $63,000 resistance level, the next upside target could be around $66,000 or higher, invalidating the bearish outlook. The overall sentiment remains cautious as investors monitor price action around key resistance and support zones.
BITSTAMP:BTCUSD
by Suyouu
3
BTCUSDT Trading Strategy Today. Today’s analysis for BTCUSDT shows that the price is currently moving below a key descending trendline, indicating potential bearish pressure. The recent rejection from the trendline (highlighted by the red arrows) suggests that BTCUSDT may head lower, continuing its downward momentum. The price is trading around $61,000, and if it fails to reclaim the trendline resistance near $61,600, we could see a deeper pullback towards the support zone around $52,600, as marked on the chart. Strategy: Sell Strategy: Consider short positions as long as BTCUSDT remains under the trendline resistance. A break below $61,000 could accelerate the decline toward the $52,600 support level. Stop Loss: Set near $65,800 (above recent highs), and the target would be around $52,600. This aligns with current market sentiment, where potential bearish trends dominate unless there is a significant reversal back above the trendline.
by Suyouu
XRP Breakdown Signals Further DeclineLooking at the XRP/USDT chart, we can observe that the price recently faced rejection at a strong resistance zone around $0.6270. The market has since broken below the ascending trendline, indicating a potential shift toward a bearish sentiment. Key Levels: Strong Resistance: $0.6270 Current Price: $0.5287 Support Target: $0.4199 Analysis: After failing to break through the strong resistance, XRP has begun to retreat, crossing below the trendline, which could now act as a resistance. This breakdown suggests that we might see further declines, with the next major support level resting at $0.4199. Strategy: Sell Opportunity: Traders could consider shorting the asset at current levels or wait for a potential retest of the broken trendline around $0.5655 - $0.5807. Stop Loss: Above $0.6270, just beyond the resistance. Take Profit: The primary target would be the support at $0.4199.
Short
by Suyouu
XRPUSDT The XRP/USDT chart is currently in a sideways consolidation pattern between $0.588 and $0.595, indicating a lack of strong directional movement. The price has remained within this range with a notable fake breakout below support, which quickly recovered. Key Technical Points: Support Zone: Around $0.588 Resistance Zone: Around $0.595 Fake Breakout: The dip below $0.588 was a false breakdown, indicating the possibility of a range-bound market in the short term. Strategy: If Range Holds: Consider trading within the range. Entry: Long at $0.588 (support) or Short at $0.595 (resistance). Targets: Aim for a profit-taking strategy of around 0.003-0.005 points from entry. Stop Loss: Place stops below $0.586 for long positions and above $0.597 for shorts to avoid false breakouts. Breakout Scenario: If the price breaks and holds above $0.595, enter a long position targeting $0.600. Conversely, a sustained drop below $0.588 could signal a short opportunity, targeting the $0.580 region. This strategy focuses on the current sideways trend, allowing for quick reaction to potential breakout moves.
by Suyouu
1
GBPUSD: Bearish Trend Dominates!Hello everyone, GBP/USD turned bearish on Tuesday, falling nearly 1% in European trading on Wednesday. The pair faced fresh supply after BoE Governor Andrew Bailey said the central bank could become “more proactive” in cutting interest rates if inflation eases. Risk-off sentiment due to Middle East concerns also weighed on the pair, while technical indicators still do not signal a solid recovery. With that in mind, this could be a prime Shorting opportunity, targeting the nearest support levels of 1.313 and 1.300.
Short
by ConanTradingFX
1
Gold at the Verge of a Breakout or Correction?Gold prices are currently “dancing” around the $2,655 level. The strong support at $2,630.511 acts as the “last fortress” protecting buyers from a steep decline. However, all eyes are on the critical resistance levels at $2,678. These are the “gateways” buyers need to breach to unlock a spectacular breakout, driving gold to new highs. The EMA 34 and EMA 89 lines are providing solid momentum, helping to maintain the upward trend. But can the market hold onto this optimism, especially with hot U.S. news and Fed movements that could shift the dynamics at any moment? A strong breakout might be in the cards, but if not, a correction back to the support zone could prompt many investors to reconsider their strategies
OANDA:XAUUSD
by Zola_Hello
Mild Volatility in Bollinger BandsLooking at the recent gold chart, we see that the gold price is trading within a clear channel bounded by the Bollinger bands. The price is currently hovering around the midpoint, with the current price at $2,656.05/ounce. This suggests some uncertainty in the market, with the gold price not seeing much significant movement in the short term. This stability may reflect investor caution in the face of broader financial market volatility and macroeconomic factors. With key economic reports and policy makers awaiting, investors may be taking a wait-and-see approach before making any major buying or selling decisions. To mitigate risk, I recommend keeping a close eye on the support level around $2,645/ounce and the resistance level around $2,685/ounce. These price breakouts will be important signals for further moves in the gold market.
OANDA:XAUUSD
by Naoomi