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  1. #301
    Golden Trader
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    Gold Price Could Dip While Crude Oil Price Trades In Range


    Gold price is struggling to stay above the $1,925 support. Crude oil price is facing a strong resistance near the $82 zone.

    Important Takeaways for Gold and Oil


    • Gold price started a strong increase and tested $1,950 against the US Dollar.
    • There is a key bullish trend line forming with support near $1,925 on the hourly chart of gold.
    • Crude oil price started a fresh increase from the $79.50 support zone.
    • There is a major bullish trend line forming with support near $80.40 on the hourly chart of XTI/USD.



    Gold Price Technical Analysis


    Gold price formed a base above the $1,900 level against the US Dollar. The price started a strong increase above the $1,915 and $1,920 resistance levels to move into a positive zone.

    The bulls even pumped the price above the $1,940 and the 50 hourly simple moving average. The price even tested the $1,950 zone. A high is formed near $1,949 on FXOpen and the price is now correcting gains.

    Gold Price Hourly Chart

    There was a move below the $1,940 level and the 50 hourly simple moving average. The price even dipped below the $1,920 level before the bulls appeared.

    Recently, there was a recovery wave above the 23.6% Fib retracement level of the downward move from the $1,949 swing high to $1,918 low. However, the bears are active below the $1,935 level and the 50 hourly simple moving average.

    The price failed to clear the 50% Fib retracement level of the downward move from the $1,949 swing high to $1,918 low. It is now moving lower below $1,930.

    An immediate support on the downside is near the $1,925 level. There is also a key bullish trend line forming with support near $1,925 on the hourly chart of gold. The next major support is near the $1,915 level, below which there is a risk of a larger decline. In the stated case, the price could decline sharply towards the $1,900 support zone.

    On the upside, the first major resistance is near the $1,930 level. The next key hurdle is near the $1,935 level, above which it could even test $1,950. A clear upside break above the $1,950 resistance could send the price towards $1,965.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

  2. #302
    Golden Trader
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    Watch FXOpen's January 23 - 27 Weekly Market Wrap Video

    In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.


    • Monday morning blues as EY forecast worse UK recession than expected
    • Natural gas fell by 50% in 1 month
    • Big Tech woes lead to layoffs, resulting in stock surge
    • TSLA. Report reassures investors



    Watch our short and informative video, and stay updated with FXOpen.




    FXOpen YouTube


    Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.

  3. #303
    Golden Trader
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    GBP/USD and GBP/JPY Could Resume Increase


    GBP/USD is consolidating gains pace above the 1.2350 zone. GBP/JPY is also rising and might gain pace if it clears the 161.80 resistance zone.

    Important Takeaways for GBP/USD and GBP/JPY


    • The British Pound is showing positive signs above 1.2350 against the US Dollar.
    • There is a key contracting triangle forming with resistance near 1.2400 on the hourly chart of GBP/USD.
    • GBP/JPY started a fresh increase above the 160.00 resistance zone.
    • There is a major bullish trend line forming with support near 160.90 on the hourly chart.



    GBP/USD Technical Analysis

    This past week, the British Pound found support near the 1.2280 zone against the US Dollar. The GBP/USD pair formed a base and started a steady increase above the 1.23200 level.

    There was a clear move above the 1.2350 resistance and the 50 hourly simple moving average. The pair even cleared the 1.2400 resistance. A high is formed near 1.2418 on FXOpen and the pair corrected lower.

    GBP/USD Hourly Chart


    There was a move below the 1.2380 level, but the bulls were active near the 1.2345. The pair is now rising and trading above the 50% Fib retracement level of the recent decline from the 1.2418 swing high to 1.2345 low.

    An immediate resistance on the upside is near the 1.2400 level. There is also a key contracting triangle forming with resistance near 1.2400 on the hourly chart of GBP/USD.

    The triangle resistance is near the 76.4% key contracting triangle forming with resistance near 1.2400 on the hourly chart of GBP/USD. The next major resistance is near the 1.2420 level, above which the pair could start a steady increase towards 1.2450.

    An upside break above 1.2450 might start a fresh increase towards 1.2550. Any more gains might call for a move towards 1.2600 or even 1.2640.

    An immediate support is near the 1.2380. The next major support is near the 1.2350 level. If there is a break below the 1.2350 support, the pair could test the 1.2280 support. Any more losses might send GBP/USD towards 1.2220.

    VIEW FULL ANALYSIS VISIT - FXOpen Blog...

    Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

  4. ARIONFORXtarder
 

 
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