News & Research

05 February 2025

powered by Land Prime

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• EURUSD

Update: The Euro is currently testing a critical resistance zone at 1.0540 - 1.0602, a key supply area that has previously acted as a turning point for sellers. Despite the recent rebound, the overall structure remains bearish unless buyers push above 1.0602 with strong momentum. The RSI (14) at 54.54 signals a neutral bias, suggesting indecision between bulls and bears. Immediate support lies at 1.0175, and a break below this level could intensify losses, potentially retesting the 1.0000 psychological level. To shift the bias to bullish, the pair must establish a foothold above 1.0602, opening the path for further recovery.

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• GBPUSD

Update: The Pound recently attempted to recover but faces resistance at 1.2597, aligning with the 38.2% Fibonacci retracement from the recent downtrend. Additionally, the 200-day moving average looms overhead, acting as a dynamic resistance level. If buyers fail to break this region, the pair could resume its decline, targeting support at 1.2350 - 1.2089. However, a sustained push above 1.2597 would confirm a stronger bullish reversal, paving the way for a move toward 1.2800. The overall trend remains bearish unless a breakout above resistance is achieved.

• GOLD

Update: Gold continues its strong bullish momentum, breaking above key resistance at 2791.5 and reaching new highs around 2875.1. The metal remains in a clear uptrend, with buyers firmly in control. However, the RSI (14) at 79.45 signals overbought conditions, raising the risk of a near-term correction. If a pullback occurs, 2791.5 now serves as immediate support, followed by 2700.0 as a deeper retracement target. Unless sellers gain control, the bullish trend is likely to persist, with the next key resistance at 2900.0 - 2950.0.

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• AUDUSD

Update: The Australian Dollar remains in a corrective phase after a steep decline, currently attempting to reclaim the 0.6239 - 0.6385 resistance area. This zone aligns with the 23.6% Fibonacci retracement, indicating a potential rejection point if bearish momentum prevails. The price needs to break above 0.6385 to confirm a stronger recovery toward the next resistance at 0.6500. On the downside, a failure at the current level could trigger another wave of selling toward 0.6166 - 0.6130, marking key support levels. The OsMA indicator suggests weakening downside pressure, hinting at a possible consolidation before the next move.

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• GBPJPY

Update: The British Pound is hovering above a critical ascending trendline near 189.3 - 189.9, which has provided strong support in previous sessions. The price is currently stuck within a range, with major resistance sitting at 198.8. A decisive move above this level could trigger a bullish continuation toward 200.0 and beyond. However, a break below 189.3 would expose the market to increased selling pressure, with the next major support near 188.0. The Awesome Oscillator (AO) remains in negative territory, suggesting bearish momentum still dominates despite recent attempts to bounce.

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