XAUUSD Pivot Point January 3, 2025

GOLD XAUUSD Pivot Point - January 3, 2025

1. Current Price Action:

   • The price is trading near $2,657.03, slightly above the pivot point (P) of $2,661.30, suggesting mild bearish sentiment in the short term.

   • The market recently tested support levels around S1 ($2,654.58) and rebounded, which reflects a consolidation phase.

2. Support and Resistance Levels:

   • Resistance Levels:

     • R1: $2,661.30

     • R2: $2,664.65

     • R3: $2,668.01

   • Support Levels:

     • S1: $2,654.58

     • S2: $2,651.23

     • S3: $2,647.87

   • The price is consolidating between S1 and the pivot point (P), hinting at a potential breakout.

3. Volatility:

   • The dynamic indicator bands show moderate volatility, with the price action respecting these bands as a support and resistance guide.

   • Recent price wicks touching the lower bands indicate buyers are entering near support.

4. Trend Analysis:

   • The broader trend is bullish, supported by higher lows and steady upward movement in the previous sessions.

   • However, the immediate trend is neutral to bearish, as the price is hovering near support levels without significant momentum upwards.

5. Short-Term Signals:

   • If the price breaches R1 ($2,661.30), the next target is likely R2 or R3.

   • A break below S1 ($2,654.58) could lead to a deeper correction toward S2 or S3.

Trading Strategy:

1. For Bulls (Buyers):

   • Entry Point: Look for a breakout above the pivot point ($2,661.30) with a confirmed bullish candlestick close.

   • Targets:

     • First Target: $2,664.65 (R2)

     • Second Target: $2,668.01 (R3)

   • Stop Loss: Place it slightly below S1 ($2,654.58) to manage downside risk.

2. For Bears (Sellers):

   • Entry Point: If the price fails to sustain above the pivot and breaks below S1 ($2,654.58).

   • Targets:

     • First Target: $2,651.23 (S2)

     • Second Target: $2,647.87 (S3)

   • Stop Loss: Place it slightly above $2,661.30 (Pivot).

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This analysis provides a balanced view of the market, integrating technical indicators with a promotional opportunity to benefit traders further.