Ethereum price (ETHUSD) bounced downwards strongly after touching 3425.50$, to test the key support at 3222.00$ by today’s open, noticing that this level consolidates against the negative pressure and push the price to rise again, to head towards resuming the expected bullish trend for the upcoming period, waiting to visit 3425.50$ again, noting that breaching it will push the price to achieve additional gains that start at 3500.00$ and reach 3680.00$ on the near-term basis.

On the other hand, we should note that breaking 3222.00$ will stop the expected bullish trend and put the price under additional negative pressure that its next target reaches 3017.30$.

The expected trading range for today is between 3140.00$ support and 3425.00$ resistance.

Trend forecast: Bullish

The NZDUSD price continues to fluctuate around the EMA50, keeping its consolidation below the bearish channel’s resistance line, thus, the bearish trend still valid for the upcoming period, waiting to get negative motive that assist to push the price to head towards our main targets that start at 0.5540$ and extend to 0.5450$.

On the other hand, we should note that breaching 0.5610$ will stop the bearish wave and push the price to start bullish correction on the intraday basis.

The expected trading range for today is between 0.5550$ support and 0.5650$ resistance

Trend forecast: Bearish

• Gold price cracks $2,700 early Monday, braces for Trump’s inauguration.
• The US Dollar weakens amid market optimism on easing Middle East tensions.
• Gold traders will continue to buy the dips amid a bullish daily technical setup.

Gold price has extended its corrective decline from monthly highs of $2,725 into early Monday. Traders will continue to cash in on their Gold-long positions heading into US President-elect Donald Trump’s inauguration and amid a Martin Luther King Jr. Day holiday in the US.

Gold price risks volatile trading  

Alongside profit-taking, several other factors remain at work and contribute to the latest leg down in Gold price, primarily the easing of geopolitical tensions in the Middle East. A 15-month-long relentless war between Israel and Hamas culminated in a ceasefire on Sunday as hundreds of trucks carrying aid entered Gaza on the first day.

In the first phase of the ceasefire deal, the Palestinian militant group released the first three Israeli women hostages in exchange for 90 Palestinian prisoners and detainees held by Israelis. Markets cheer the progress on the truce deal, giving up safe havens such as the US Dollar (USD), Gold and US government bonds, which has helped put a mild bid under US Treasury bond yields.

Meanwhile, the Wall Street Journal (WSJ) reported the leaks that Trump is preparing to issue executive orders on immigration, energy and government hiring policies soon while declaring a national emergency on the US-Mexico border within hours of being sworn in on Monday. However, the report on these leaks does not mention tariffs, which could also be one of the reasons behind the risk-on market profile.

Moreover, increased expectations that China will cut the Reserve Requirement Ratio (RRR) before the Lunar New Year, following a no change to its Loan Prime Rate (LPR), add to the upbeat market mood. China is the world’s biggest Gold consumer, and any Chinese stimulus efforts coming through could benefit the non-yielding Gold price. 

However, the Gold price downside could remain cushioned as markets now expect the US Federal Reserve (Fed) to deliver two interest rate cuts this year, in the face of the tame December inflation data released last week. 

Looking ahead, Gold price remains exposed to two-way volatile price action, with the moves likely to be exaggerated by the holiday-thinned market conditions and the speculations surrounding Trump’s ‘day one’ executive orders.

Gold price technical analysis: Daily chart

The short-term technical outlook suggests that Gold price could extend the pullback before fresh buying resurfaces at lower levels.

This month’s symmetrical triangle breakout remains in play, while the yellow metal holds well above all the major daily simple moving averages (SMA), supporting the bullish case.

The 14-day Relative Strength Index (RSI) holds above the midline, currently near 58, adding credence to the positive Gold price outlook.

Gold price eyes acceptance above the key static resistance at $2,726 to extend the uptrend toward the $2,750 psychological barrier. The next target is aligned at the record high of $2,790.

If the correction gathers strength, Gold price could test the January 15 low of $2,670, below which the 21-day SMA at $2,653 will be threatened.

Additional declines will challenge the powerful support area at $2,745, where the 50-day SMA, 100-SMA and the triangle convergence coincide.

• Gold price declines to around $2,695 in Monday’s early Asian session. 
• The firmer Greenback undermines the USD-denominated Gold price. 
• The uncertainty and elevated geopolitical tensions could boost the Gold price, a traditional safe-haven asset. 

Gold price (XAU/USD) extends its decline to near $2,695 during the early Asian session on Monday. The stronger US Dollar (USD) broadly ahead of President-elect Donald Trump’s inauguration exerts some selling pressure on the yellow metal. 

Analysts expect the gold price to face volatility before Trump takes office. Traders will closely watch the developments surrounding potential trade policies. Any of Trump’s aggressive comments about using trade tariffs to support the US manufacturing sector could lift the Greenback and weigh on the USD-denominated commodity price. 

However, the softer-than-expected US inflation data last week could support the precious metal as it might trigger the speculation of more than a single rate cut from the US Federal Reserve (Fed). Traders await Trump’s inauguration on Monday for fresh catalysts about executive orders that he plans to issue after he is sworn into office. “The uncertainty in regard to the policies that President Trump is going to put in place has been one of the supportive factors for gold,” said David Meger, director of metals trading at High Ridge Futures.

Additionally, the persistent geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflicts could boost the safe-haven flows, benefiting the Gold price. The Guardian reported that the Russian military took control of two more settlements in eastern Ukraine’s Donetsk region on Saturday, the latest in a series of gains it has reported in its steady advance westward.

Gold, often seen as a companion asset, remains a key influence on silver prices. Gold’s movement near critical resistance levels provided some support for silver sentiment. However, silver’s substantial industrial demand component introduces additional challenges, particularly as global economic uncertainty clouds growth prospects​​.

Market Forecast: Can Silver Gain Momentum?

Silver’s ability to overcome $30.44 will determine the market’s short-term outlook. A breakout above this resistance could drive prices toward $32.33, with potential for further gains if macroeconomic data aligns favorably. Failure to clear this level, however, could see the metal retreat to $28.75. This level could act as a floor, or the trigger point for further losses.

The week ahead presents significant data points, including U.S. manufacturing reports, inflation figures, and Federal Reserve commentary. Traders should prepare for increased volatility, as silver’s dual role as a monetary and industrial asset ensures it remains at the crossroads of economic and geopolitical forces.

Bitcoin price (BTCUSD) opened today’s trading with clear positivity to surpass 100000.00$ barrier and confirm the continuation of the bullish trend domination on the intraday basis, and the way is open to achieve our next waited target at 103500.00$, noting that surpassing this level will push the price to head towards the historical high at 108350.45$ as a next main station.

Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 99695.00$ will put the price under negative pressure and might target the key support 95195.00$ before any new attempt to rise.

The expected trading range for today is between 99500.00$ support and 104500.00$ resistance.

Trend forecast: Bullish

Silver price trades negatively to press on the key support 30.63$, which urges caution from the upcoming trading, as the price needs to hold above this level to keep the positive scenario active for today, which its next target located at 31.63$, reminding you that breaking the mentioned support will push the price to suffer intraday losses and visit 29.63$ mainly.

The expected trading range for today is between 30.50$ support and 31.40$ resistance.

Trend forecast: Bullish

• Silver faces rejection near the $31.00 confluence and snaps a three-day winning streak.
• Any further slide could be seen as a buying opportunity near the $30.40-$30.35 support.
• Bulls need to wait for a move beyond the trend-channel hurdle before placing fresh bets.

Silver (XAG/USD) attracts some sellers on Friday and for now, seems to have snapped a three-day winning streak to the $31.00 neighborhood, or over a one-month high touched the previous day. The white metal remains depressed through the first half of the European session and currently trades around the $30.60-$30.55 area, down 0.70% for the day. 

From a technical perspective, the recent move-up witnessed since the beginning of this month stalls near a confluence hurdle comprising the 100-day Simple Moving Average (SMA) and the top end of a descending channel extending from a multi-year top touched in October. A sustained breakout through the said barrier should pave the way for a further near-term appreciating move for the XAG/USD.

Given that oscillators on the daily chart are holding comfortably in positive territory and are away from being in the overbought zone, the commodity might then accelerate the momentum towards the $31.70 hurdle. The subsequent move-up should allow the XAG/USD to reclaim the $32.00 round-figure mark and climb further towards testing the December monthly swing high, around the $32.30-$32.35 region. 

On the flip side, any further decline could be seen as a buying opportunity near the $30.40-$30.35 region, which, in turn, should help limit the downside near the $30.00 psychological mark. A convincing break below the latter might prompt technical selling and drag the XAG/USD towards the $29.55-$29.50 support en route to the $29.00 mark and the $28.75-$28.70 area, or a multi-month low touched in December.

XAG/USD daily chart

Gold price shows some slight bearish bias to head towards potential test to 2700.00$ barrier, waiting to get positive motive that push the price to resume the main bullish wave, which its targets begin by surpassing 2730.00$ to confirm opening the way to head towards 2790.00$.

On the other hand, we should note that breaking 2680.00$ will stop the bullish wave and force the price to turn to decline.

The expected trading range for today is between 2700.00$ support and 2740.00$ resistance.

Trend forecast: Bullish

Bitcoin price (BTCUSD) opened today’s trading with clear positivity to surpass 100000.00$ barrier and confirm the continuation of the bullish trend domination on the intraday basis, and the way is open to achieve our next waited target at 103500.00$, noting that surpassing this level will push the price to head towards the historical high at 108350.45$ as a next main station.

Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 99695.00$ will put the price under negative pressure and might target the key support 95195.00$ before any new attempt to rise.

The expected trading range for today is between 99500.00$ support and 104500.00$ resistance.

Trend forecast: Bullish