News & Research

02 January 2025

powered by Land Prime

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• EURUSD

Update: The US dollar maintains dominance against the euro, with the pair remaining below the 1.0613 resistance. Continued bearish momentum could push the pair to test the 1.0367 support, and a break below this level might extend the decline to 1.0335. However, the bearish momentum appears to be slowing, as suggested by the convergence between price and the RSI (14), which currently reads 42, indicating the pair is nearing oversold conditions. Any bullish reversal would require a daily close above 1.0613 to confirm it.

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• GBPUSD

Update: The GBP/USD pair is trading above 1.2477, which might push the pair upwards towards 1.2600. Resistance at 1.2846 aligns with a prior supply zone, making it a significant hurdle for any upside move. A breakdown below 1.2477 could expose the pair to the next major support at 1.2400. Conversely, reclaiming the 1.2846 level could shift momentum back in favor of buyers.

• GOLD

Update: The chart presented above indicates that the trading pair is currently positioned above the critical level of 2584. This upward positioning suggests the potential for further upward momentum, with the pair potentially advancing toward the next target level of 2700. Conversely, if the pair were to close below the 2584 level, it would likely experience downward pressure, driving it lower toward the subsequent support range of 2500 to 2450.

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• AUDUSD

Update: The AUD/USD pair shows significant weakness, continuing its decline toward critical support at 0.6167. A clear break below this support could open the door for further declines toward 0.6050. The CCI (14) indicator stands at -91, reflecting ongoing bearish pressure but nearing oversold territory. A short-term technical rebound may occur, but any upward movement will remain limited unless the major resistance at 0.6859 is surpassed.

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• GBPJPY

Update: The GBP/JPY pair shows clear resistance at the 198.95 - 199.69 levels. Failure to break above this zone may lead to a corrective move toward the support at 196.23, and breaking this level could result in a retest of 194.09. The RSI (14) indicator reads 49, reflecting a relatively neutral momentum. A move above 199.69 could drive the pair higher, but in the short term, the bearish bias seems more likely.

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