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Uncertainty in Gold: Is a New Leg of Correction on the Horizon?Yesterday, OANDA:XAUUSD exhibited significant volatility, with sharp fluctuations both upward and downward. However, by the close of the session, the price remained relatively unchanged, lacking a clear directional trend. The current price movement suggests a phase of consolidation, indicating that a more definitive direction may emerge soon. Traders are now observing key levels that could guide future moves. On the upside, the 2663-2665 zone is seen as a resistance level, which could signal a bullish breakout if breached. Conversely, the 2645-2650 range serves as a support zone, indicating a potential bearish move if the price falls below this level. From a personal perspective, I anticipate that gold might break to the downside, leading to a new corrective phase that could potentially drive the price toward the 2600 level. That said, this is merely my view, and there is always the possibility of being wrong. Therefore, my invalidation point for this bearish scenario would be a break above the established resistance zone, which would signal the need to reassess the situation. In conclusion, while the market remains in a state of indecision, these key levels provide traders with important reference points to monitor for potential breakouts or reversals in the near future.
OANDA:XAUUSDShort
by Mihai_Iacob
9
XAU/USD: Is the 2650 Break Sustainable or Driven by Emotion?Yesterday, OANDA:XAUUSD (Gold) broke back above the 2650 level, a point of significant psychological and technical importance. This level is critical due to the confluence of a horizontal support line and the falling trendline of the down-channel pattern. While this upward break may seem promising, I believe it is not likely to be a sustainable move. In my view, this breakout appears to be driven more by emotional reactions rather than genuine market demand. As a result, I believe the current correction for Gold is not yet complete, and we could see another downward move in the near future. From a technical perspective, the 2650 level acts as a critical "line in the sand." Should the price drop back below this level, the first target would likely be the recent low, with the potential for an extended decline towards the next major support zone around 2590. This area marks an important technical level that could offer stronger support if the downtrend continues. At the time of writing, I am currently out of the market, and waiting for further clarification. I am particularly looking for a decisive drop back below 2650, which would reinforce my bearish outlook and provide confirmation for a potential short trade.
OANDA:XAUUSDShort
by Mihai_Iacob
5
Bitcoin's Bearish Momentum Builds: Could 55k Be the Next Target?On Sunday, I shared an article expressing my view that Bitcoin might remain in a range for an extended period. As expected, whenever someone suggests something other than Bitcoin rising, critics are quick to respond. However, Bitcoin has since broken below its local support and dipped to the 60k level. Looking ahead, I expect the decline to continue, with BTC/USD likely to fall well below 60k. Currently, the 63k zone is acting as resistance, and any rallies into this area present potential selling opportunities for speculative traders. A reasonable target for this downtrend could be around 55k, with the invalidation of this bearish scenario occurring if Bitcoin breaks back above the 65k level.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
3
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
FXOPEN:XAUUSDShort
by syomking76418
GbpUsd breaks important confluence supportIn my analysis last week, I mentioned that for GBP/USD to maintain its upward momentum, bulls would need to push the price above the key resistance level at 1.3420. However, they were unable to clear that level, and the pair has since experienced a decline. Interestingly, as I was writing this update, a significant break occurred below a confluence of support levels, which has now turned the outlook bearish. As things stand, the market sentiment appears to favor further downside for GBP/USD. As long as the 1.33 level holds, the likelihood of more losses remains high, with 1.30 potentially becoming a target for the bears. Given this bearish setup, my current strategy is to sell into rallies, anticipating further downward movement in the pair. In summary, the failure to break through resistance and the subsequent breach of key support levels suggest that GBP/USD is poised for further declines unless the market shows signs of recovery above the 1.33 level.
Short
by Mihai_Iacob
2
Key Support Holds for USD/JPY: Will the Pair Break Past 150?On Friday, USD/JPY experienced a significant sell-off, losing around 500 pips in a sharp downward movement. However, after reaching the key horizontal support level at 141.64, the pair managed to find some relief and began a recovery, suggesting that the recent decline may have been short-lived. Currently, USD/JPY is working to negate this steep sell-off, indicating that the recovery process could be underway. In my view, USD/JPY is poised to continue its rebound from the 162-140 decline, with the potential to surpass the psychological barrier of 150. If the pair successfully breaks through this level, it could head toward the important resistance zone near 152, which will be a critical point for further bullish momentum. For shorter-term traders, there are additional levels to monitor before reaching the 150 mark. Key upside targets include 147.30 and 149.40, both of which present potential profit-taking opportunities as the pair continues its recovery.
Long
by Mihai_Iacob
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
FXOPEN:XAUUSDShort
by syomking76418
Gold’s Correction Phase: Key Levels and What to Watch NextIn yesterday’s post, I discussed the possibility of a new leg in the ongoing correction for gold, pinpointing the 2630 zone as a potential area for this decline to materialize. As it stands, XAU/USD has indeed dropped to that level and is currently showing signs of recovery. However, there are two key takeaways from yesterday’s price action that need to be highlighted: 1. The correction fits within the broader bullish trend: Despite the pullback, it is essential to recognize that the movement appears corrective rather than a reversal of the overall bullish structure for gold. 2. Caution regarding the end of the correction: While gold is recovering from the 2625 level, it is premature to declare the correction complete. For confirmation that this phase has ended, the price needs to break above the 2650 zone and, crucially, close the day above that level. This would signal stronger momentum and increase the likelihood of further upward movement. With this in mind, the strategy for swing traders remains focused on buying the dips. Until we see a decisive break and daily close above 2650, low volume is advised. If that level is successfully breached, it would serve as confirmation that the recovery is gathering steam and could potentially open the door for gold to target the 2700 level in the near term. In conclusion, while the current correction may have created an opportunity to enter at lower levels, traders should remain cautious and await a clearer signal before committing high volume long positions. The 2650 zone remains the key level to watch for further bullish confirmation.
OANDA:XAUUSDLong
by Mihai_Iacob
5
ETH Price Analysis: Eyeing a Sell Opportunity Near Key ResistancAfter finding strong support around the 2150 zone, Ethereum (ETH) began a recovery and has since entered an upward trajectory. While this recent upward movement is encouraging for short-term traders, the overall long-term outlook remains uncertain. There is a strong confluence of resistance around the 2900 zone, which may pose a significant barrier to further gains. In my analysis, despite the recent rise, Ethereum bulls are not entirely in the clear. The market is still vulnerable, and there is a strong possibility of another downward move, potentially pushing the price below the critical 2000 level before we see a genuine reversal and a more sustained uptrend. In conclusion, I'm looking to sell if Ethereum approaches the resistance zone, especially near the 2900 level. My target will be at least the recent lows, as I anticipate that the market may struggle to break through this key resistance. However, this bearish outlook would be invalidated if Ethereum sees sustained buying pressure above the 3000 figure.
COINBASE:ETHUSDShort
by Mihai_Iacob
Hellena | EUR/USD (4H): Long to the 100%-161.8% Fibo lvl 1.13296Colleagues, I reviewed the waves a bit and realized that the upward movement is likely to continue. At the moment I believe that the price is in wave “3” lower wave and in wave “5” higher wave. Therefore, I think that the nearest target is in the area of 1.13296, which is 100%-161.8% of Fibonacci extension levels. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Long
by Hellena_Trade
13
Btc at confluence support. 68k still in playSince the beginning of the month, BTC has been in an uptrend, recently breaking above its previous high of 64,500. After reaching a high around the 66,500 zone, the price began to decline in what appears to be a correction. Currently, the price is sitting right at a key confluence support level. If we're aiming for a move toward 68k, the price needs to hold above this level and not close the day below it. However, if the price drops below this support, there's a strong chance that we've reached a local top, and further losses may follow.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
5
Alikze »» BAND | Descending channel failure🔍 Technical analysis: Descending channel failure - It has been moving in a downward channel on the daily time frame. - It is currently in the supply zone with the breakdown of the descending channel. - In case of a pullback to the broken structure and maintaining the 1.17 area, it can continue its growth until the next supply area of ​​the 1.75-1.95 range. In addition, in case of failure of the supply zone of 1.75-1.95 range, the upward movement will continue towards the next supply zone, which can touch the 2.60 range. 💎 Alternative scenario: In addition, if the 1.17 range is broken down, the bullish scenario will be invalidated and can continue the correction up to the 0.97 area. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:BANDUSDT
Long
by alikze