In the European session, gold prices XAUUSD reversed losses and broke recent historical highs. Progress in peace talks between the United States and Russia is now expected, as the administration of US President Donald Trump has agreed to further discussions with Russia to push for an end to the war in Ukraine. In addition, Trump has threatened to impose 25% tariffs on imported cars, medicines and semiconductors. As of press time, spot gold prices were up 0.30% to around $2,945/oz, hitting a high of $2,946.44, breaking the all-time high of $2,942.70 set last week. Investors are assessing the latest news on the tariff hike and uncertainty from US President Donald Trump after the initial peace talks between Russia and Ukraine ended without the participation of Kiev and Europe. The Trump administration said Tuesday it has agreed to further talks with Russia on ending the war in Ukraine after the first round of peace talks between Russia and Ukraine did not include Ukraine or Europe. Ukrainian President Volodymyr Zelenskiy said it would be impossible to reach a peace deal behind his back. He postponed a visit to Saudi Arabia scheduled for Wednesday until March 10 to avoid “legitimizing” the US-Russia talks. Russia has stepped up its demands, notably emphasizing that it will not accept NATO membership for Kiev. Gold is considered a traditional safe haven against inflation and geopolitical uncertainty. The market is now awaiting the release of the Federal Reserve's January meeting minutes for further insight into the US central bank's interest rate path this year, while keeping an eye on the potential impact of the Trump administration's trade policies on the economy. The market has accepted expectations that the Federal Reserve will cut interest rates by 36 basis points in 2025. Technically, gold is up 0.30% on the day, temporarily sitting above the 0.382% Fibonacci extension level, which is considered the nearest resistance. Once gold breaks above $2,946, it could continue to renew its all-time high with a target of around $2,971 in the short term.
The chart represents a technical analysis of Prakash Industries Ltd. on a weekly time frame from the NSE (National Stock Exchange of India). Here are the key takeaways from the analysis: Elliott Wave Analysis The chart follows Elliott Wave Theory, with waves 1 to 5 labeled. The stock appears to be in Wave 4 consolidation, preparing for a potential Wave 5 rally. Cup and Handle Formation A large cup and handle pattern is visible, suggesting a bullish breakout potential. Fibonacci Retracement Levels The 0.5 Fibonacci retracement level (142.29) is a key support area. The stock is consolidating around this zone, potentially forming a base. Resistance & Support Levels Resistance: Around 183.84 (red line) and 239.90 (previous high). Support: Around 140.00, which aligns with Elliott Wave Wave 4 bottom. Target Projection If the stock follows Elliott Wave principles, the next target is around 329.15 (marked in green). This suggests a potential bullish move, provided it breaks key resistance levels. Summary: Current Status: Consolidating within a range. Trend: Bullish outlook if it holds support and breaks resistance. Key Watch Levels: 140 as support, 183.84 as resistance, 329.15 as a target. Risk: If the price breaks below 140, the bullish setup might weaken.
https://www.tradingview.com/x/uYW3JOP1/ FUSIONMARKETS:EURUSD
The Breakout Indicator is breaking out this quarter. The pattern spans from 2011 to 2025, and I’m expecting a very big move, likely this year and next. Usually, every breakout is massive, but this one is different because the patterns I typically watch last 3-5 years.
Yesterday, EURUSD continued its correction and reached 1,0398. The next key support level is at 1,0390. Watch for a potential bounce from this level, which could present buying opportunities. The target remains a breakout above the previous high and a move toward 1,0568.
The gold market is currently exhibiting a compelling bullish chart setup that strongly suggests a significant upward move is in play. After a period of consolidation, gold is showing clear signals of renewed strength and momentum. My analysis indicates a high probability of gold reaching and potentially exceeding the $3000 level in the 4 Hour Time frame in the coming weeks. This bullish conviction is based on a confluence of technical factors and chart patterns that are aligning to create a powerful upward trajectory.
I can see a good short trade opportunity developing. 1)The price sharply dropped below the major support/resistance zone around 107 area and retraced up gently within the ascending parallel channel to fill the fair value gap. 2)The current 4H candle is moving below the bottom parallel channel. (developing) 3) MACD is in the bear zone and it looks like it is about to cross to the downside (but not confirmed). 4) RSI is also in the bear zone and it is starting to cross to the downside.
ABC zigzag complete, then one bounce, and now:\ 1.vWAP crossed by 2. engulfing bullish candle 3. signals on VZO/StochRSI 4. cross of MIDAS line 5. Cross of Bolinger Band %PCT We like to use combinations or pairs of different indicator, as it improves chances. Similarly, every indicator we use looks at every market from completely different perspectives, be it volume, volatility, statistical deviation, price action, stochastics.
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