Gold: 4H: It looks like the corrective move is still continuing as a Triple Zig Zag corrective structure to the upside with the current Price Action in the second W.x which is either still continuing as a Triangle or already complete.Strategy: In either case (Continuation or already complete W.x) we look to initiate longs with SL below W.x low and targets above 1243.
The author or any person directly or indirectly associated with 50eyes.com does not hold any liability for any profit, loss or loss of profit made using the views presented. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or forex); therefore, you should not invest or risk money that you cannot afford to lose.
Recommended Content
Editors’ Picks
AUD/USD hung out to dry on familiar low end
AUD/USD tried and failed to spark a bull run during the first trading session of 2025, rising on thin volumes before collapsing back into the 0.6200 handle in the later hours of the day. A broad-market push into the safe haven Greenback kept the Aussie pair on the defensive, and the AUD is mired in congestion on the weak side of two-year lows.
USD/JPY flirts with multi-month highs in the 158.00 region
The USD/JPY pair traded as high as 157.84 on Thursday, nearing the December multi-month high of 158.07. Additional gains are on the docket amid prevalent risk aversion.
Gold flat lines above $2,650 ahead of US PMI release
Gold price consolidates its gains near $2,660 after reaching a two-week high during the early Asian session on Friday. The safe-haven flows amid the geopolitical tensions provide some support to the precious metal.
Could XRP surge to new highs in January 2025? First two days of trading suggest an upside bias
Ripple's XRP is up 7% on Thursday, extending its rally that began during the New Year's Day celebration. If long-term holders continue their recent accumulation, XRP could overcome the $2.9 resistance level and aim for a new all-time high.
Three Fundamentals: Year-end flows, Jobless Claims and ISM Manufacturing PMI stand out Premium
Money managers may adjust their portfolios ahead of the year-end. Weekly US Jobless Claims serve as the first meaningful release in 2025. The ISM Manufacturing PMI provides an initial indication ahead of Nonfarm Payrolls.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.