News & Research

04 December 2024

powered by Land Prime

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• EURUSD

Update: The EUR/USD pair struggles to stabilize, consolidating near 1.0500 after failing to decisively break higher. Immediate support at 1.0522 continues to hold, but bearish pressure remains. To regain control, bulls must clear 1.0659, opening the path toward 1.0700 and 1.0938. RSI moving away from oversold levels hints at potential upside, but a break below 1.0522 could expose the pair to a slide toward 1.0383, confirming bearish dominance.

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• GBPUSD

Update: The GBP/USD pair remains in a clear downtrend, trapped below a descending trendline. Immediate resistance lies at 1.2751, followed by the critical 1.2828 level. For now, bearish momentum dominates, with sellers targeting support at 1.2675 and a potential decline toward 1.2428 on a breakout lower. The moving averages reinforce the bearish outlook, with any upside likely to face significant resistance at the trendline.

• GOLD
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Update: The XAU/USD pair maintains its upward trajectory, trading firmly within a well-defined rising channel. Immediate support at 2527.57 has repeatedly held, keeping the bullish outlook intact. Bulls need to target 2650 first, with a push toward the channel's upper resistance around 2800. Failure to hold the 2527.57 level, however, could lead to a decline toward 2450, which would challenge the channel's integrity. Stochastic indicators signal a potential reversal, suggesting upward momentum may resume.

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• AUDUSD

Update: The AUD/USD pair remains in a sustained downtrend, recently breaking below 0.6450 support. Sellers are now eyeing 0.6355 as the next major target, with 0.6408 acting as intermediate resistance. For a meaningful recovery, bulls need to reclaim 0.6629, which would signal a shift in sentiment. The OsMA indicator highlights weak upside momentum, favoring further declines unless a decisive reversal takes place above the short-term resistance.

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• GBPJPY

Update: The GBP/JPY pair is trading near critical support at 191.00, flirting with a break below its rising trendline. A failure to hold above 191.00 would likely trigger a drop toward 183.79, with additional support at 180.32. On the upside, bulls must reclaim 195.26 to regain control, with further resistance seen at 200.40. The Awesome Oscillator suggests growing bearish momentum, increasing the likelihood of a deeper correction unless bulls defend the trendline with conviction.

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