XAU/USD Weekly Outlook: Navigating Key Levels and Potential Rev

27 janv.

Key Levels to Watch
Resistance Levels:

2,774.765: A key resistance line tied to recent highs (Wave A completion).
2,786.060: The invalidation point for the bearish move. If gold rises above this, it negates the correction.
Support Levels:

2,718.705: First key support, marked as the Fibonacci 0.382 retracement.
2,709.585: Next support tied to the 1.618 Fibonacci extension.
2,653.530: A major level where price could reach equilibrium (POC - Point of Control).
Targets for the Corrective Move:

2,718.499: Expected point for "Weak Wave A."
2,668.727 to 2,658.878: Critical Fibonacci extension zone for Wave C completion.
2,924 (potential retracement): If gold completes its correction, this may set up for future bullish moves.
Wave Structure:
Wave A: Price peaked near 2,774.765 and is currently declining, marking the end of the impulsive wave.
Wave B: Expected retracement higher before further decline, but likely capped below 2,771.602.
Wave C: Projected continuation lower, potentially reaching key supports near 2,653.530 or further below.
Trade Plan for This Week
Short-Term Traders:
Look for selling opportunities near 2,760 to 2,774 if price struggles to break resistance.
Target supports at 2,718 or deeper around 2,709-2,653.
Long-Term Traders:
Watch for bullish setups around 2,653.530, where price could form a base for a new upward trend.
Confirmation for buying would require a break above 2,774.765 resistance.
Key Takeaway
Gold is likely completing a correction this week. Expect further downside toward key supports, but a reversal higher could occur if strong support zones hold. Use caution and follow the wave structure closely to time entries.

27 janv.

Transaction en cours

Tuesday USD’s Big Test
⚙ Key Focus US Durable Goods Orders & Consumer Confidence

Durable Goods Orders are forecasted to recover (+0.5%) after sharp -1.1% drop last month. Consumer Confidence however looks set to soften slightly!
Whats Likely to Happen?
Positive durable goods figures signal robust US economic activity, boosting the USD and pressuring Gold prices. But do not fomo if consumer confidence falters, it could dent USD momentum later in the day.
Sell Gold XAU/USD Strong durable goods = USD strength Gold weakness.
Sell USD/JPY Only If Consumer Confidence underwhelms (safe haven JPY could shine.)