XAUUSD Pivot Point Today

Technical Analysis: XAU/USD (Gold Spot) – January 16, 2025

Chart Overview

The chart displays the 15-minute timeframe for Gold (XAU/USD), including pivot points (Camarilla Daily) and the Donchian Channel (DC). The market price is hovering around $2,694.55, which is slightly above Support 1 (S1: $2,694.15). The recent price action shows a rejection near the upper resistance levels and consolidation near the pivot area.

Key Levels

• Resistance 4 (R4): $2,712.12

• Resistance 3 (R3): $2,704.42

• Resistance 2 (R2): $2,701.85

• Resistance 1 (R1): $2,699.29

• Pivot Point (P): $2,687.72

• Support 1 (S1): $2,694.15

• Support 2 (S2): $2,691.59

• Support 3 (S3): $2,689.02

• Support 4 (S4): $2,681.32

Price Movement Analysis

1. Current Price Action:
   The price is near S1 ($2,694.15), showing a potential reversal from a downward correction after failing to sustain above R1 ($2,699.29). The market appears to be consolidating between $2,694 - $2,699.

2. Bullish Scenario:

   • A break above R1 ($2,699.29) may lead to further upside movement toward R2 ($2,701.85) and R3 ($2,704.42).

   • Sustained momentum above R3 ($2,704.42) could target R4 ($2,712.12), indicating a strong bullish breakout.

3. Bearish Scenario:

   • If the price falls below S1 ($2,694.15), it could test S2 ($2,691.59) and S3 ($2,689.02).

   • A decisive breakdown below S4 ($2,681.32) would confirm a bearish continuation.

Technical Indicators

• Donchian Channel (DC):
  The price is trading close to the middle line of the Donchian Channel, indicating reduced volatility. A breakout of the channel’s boundaries could signal the next trend direction.

• Trend Strength:
  The overall trend remains mildly bullish, as the price has made higher highs recently. However, the current rejection near the upper resistance zone indicates potential exhaustion of the bullish momentum.

Trading Strategy Suggestions

1. For Long Positions (Buy)

• Entry: Above R1 ($2,699.29)

• Target: R2 ($2,701.85) and R3 ($2,704.42)

• Stop Loss: Below Pivot Point ($2,687.72)

2. For Short Positions (Sell)

• Entry: Below S1 ($2,694.15)

• Target: S2 ($2,691.59) and S3 ($2,689.02)

• Stop Loss: Above R1 ($2,699.29)

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Summary

The current price action near $2,694.55 suggests indecision in the market, with a likelihood of consolidation before the next major breakout. Traders should monitor $2,699 (R1) and $2,694 (S1) levels closely to determine the direction of the next significant move.

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