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Nvidia’s stock has gained more than 4% over the last three trading sessions. The price currently hovers slightly above $190 per share, marking new record highs and moving closer to the psychological level of $200. Buying pressure has intensified after the U.S. government authorized a series of agreements allowing the export of advanced artificial intelligence chips to the United Arab Emirates, opening a strategic trade channel with the Middle East. This development has strengthened investor confidence, fueled by higher long-term revenue expectations for the company. As a result, buying momentum may continue to dominate in the short term. Relevant Uptrend Since early April, the stock has maintained a steady upward trend, consistently posting new highs that confirm a dominant bullish bias on the broader chart. So far, there have been no significant corrections threatening this structure, leaving the uptrend line as the key reference for short-term movements. However, as the price approaches the $200 level, a phase of indecision could emerge due to signs of buyer exhaustion, reflected in the formation of weakening candles. This behavior could lead to technical pullbacks within the broader bullish trend. RSI The RSI line remains above the 50 level, indicating that buying momentum remains dominant over the past 14 trading sessions. However, the indicator is gradually approaching the overbought zone (70). If it reaches this level, it could signal an imbalance in market forces, opening the door to short-term downward corrections. MACD The MACD histogram remains close to the neutral line (0), suggesting a lack of clear directional strength in the short-term moving averages. Both indicators point to a potential phase of indecision in short-term movements, allowing for a possible period of consolidation within the current bullish bias, especially if no new major catalysts emerge to drive aggressive buying pressure in the coming sessions. Key Levels to Watch: $200 – Psychological Resistance: In the absence of historical references, this level stands out as the most relevant short-term price point. It could act as a technical barrier, triggering temporary pullbacks. $184 – Near-Term Support: Corresponds to the recent retracement area. A drop below this level could neutralize bullish momentum and lead to a sideways consolidation phase. $170 – Key Support: Associated with recent lows, located below the 100-period moving average. A sustained move under this level could shift the market structure and pave the way for a dominant bearish bias. Written by Julian Pineda, CFA – Market Analyst

Gold continued its remarkable rally today, briefly touching a new record high of $3,871, before easing on profit-taking to turn lower at the time of writing. Despite last week's small dollar strength from upbeat US data, the metal decisively broke above the next round handle of $3,800, where it was still holding today. The bullish structure remains intact as long as the higher highs and lows persist. Key drivers for gold include strong central bank demand, ongoing geopolitical risks, de-dollarisation trends, and concerns over US debt and policy credibility. While Fed rate cut expectations have been pared back slightly, the overall case for gold remains resilient, underpinned by structural factors rather than short-term policy shifts. This week’s focus turns to critical US labour market data, including JOLTS and non-farm payrolls, which could sway the dollar’s direction and gold’s short-term momentum. Technically, gold’s next upside targets are $3,900 and $4,000, while support lies around $3,790–$3,800 initially. Below this area, you have the short-term trend line and then nothing significant until $3,700. Meanwhile, the RSI is flashing big warning signs on multiple time frames. But despite overbought conditions, momentum remains strong, making dip-buying the preferred strategy in the near term. By Fawad Razaqzada, market analyst with FOREX.com

XAU/USD started the week with a strong bullish bias, posting a gain of about 1.8% in the first session and maintaining solid upward momentum. Buying pressure has held firm as political uncertainty in the United States grows amid the risk of a potential government shutdown if Congress fails to approve essential budget legislation. This has triggered continued weakness in the U.S. dollar and boosted demand for gold as a safe-haven asset, a trend that could persist in the short term if political risks remain and lead to a broader paralysis. Unstoppable Uptrend Since late August, gold has been following a marked bullish trend, consistently driving prices to new all-time highs in the short term. At the moment, there are no clear signs of exhaustion in this trend, and in the absence of significant bearish corrections, the technical structure is likely to remain dominant in the coming sessions, provided that buying pressure holds steady. However, given the speed of the recent rally, the market may soon see a phase of technical pullbacks in the short term. RSI The RSI continues to hover above the 70 level, firmly in overbought territory. At the same time, the indicator has begun showing lower highs while gold prices continue to post higher highs, creating a clear divergence signal in the short term. Together, these factors suggest that the speed of recent buying activity has caused a market imbalance, which could eventually pave the way for steady corrective pullbacks. MACD The MACD histogram remains in positive territory but is moving closer to the zero line, which represents price equilibrium. As long as the histogram fails to recover decisively, indecision is likely to become a feature of gold’s short-term price action. Key Levels to Watch: $3,900 – Psychological Resistance: In the absence of historical references, this is the most immediate level to monitor as resistance. Sustained buying above this zone would reinforce the current uptrend and consolidate a dominant bullish bias. $3,800 – Nearby Barrier: A recent neutrality level that may act as immediate support against potential short-term corrections. $3,640 – Key Support: Corresponds to the most recent lows. A break below this level would put the ongoing uptrend at risk and could open the door to a more relevant bearish bias in the short term. Written by Julian Pineda, CFA – Market Analyst

Apple’s share price has staged a sharp rebound in recent weeks, climbing above both the 50-day (225.78) and 200-day SMA (221.80). The sustained move higher has carried price into the 256–260 zone, where it is now testing a major horizontal resistance level established earlier this year. Momentum indicators reflect the strength of the rally but also highlight stretched conditions. The RSI sits at 75, signaling overbought territory, while the MACD remains firmly above its signal line, showing ongoing bullish momentum. These readings suggest strong buying pressure, though the risk of a pause or pullback near resistance should not be overlooked. A confirmed breakout above 260 would mark a significant technical shift, potentially resuming the broader uptrend, while failure to clear this level could see consolidation or a retracement back toward the short-term moving averages. -MW

Nvidia’s stock started the week with a gain of more than 4%, maintaining a steady bullish bias after it was announced that the company will invest over $100 billion in OpenAI to support the development of artificial intelligence infrastructure. As part of the agreement, Nvidia is expected to receive OpenAI shares as compensation. This move reflects both companies’ commitment to sustained growth in the AI industry and suggests that Nvidia views this project as a key step to strengthen its position beyond microchip production, seeking to consolidate itself as a strategic player in the sector over the long term. For now, market confidence has fueled buying pressure, and if further announcements are made, this trend could continue to dominate in the short term. Short-Term Sideways Range at Risk In recent weeks, Nvidia’s price had been moving within a sideways range, with a ceiling near $183 per share and a floor around $162. However, the latest bullish momentum is pushing the stock to test this resistance. If buying pressure holds, the range could break out and pave the way for a more relevant bullish bias in the coming sessions. RSI The RSI line remains above the neutral level of 50, showing that short-term bullish momentum has begun to dominate the average of the last 14 sessions. As long as this trend continues and the indicator does not enter overbought territory, buying pressure could become even more relevant in the short term. MACD The MACD histogram has started to show oscillations above the neutral 0 level, suggesting that the average strength of the moving averages has entered a steady bullish zone. If this signal persists, it could open the door to a stronger bullish bias in the short term. Key Levels to Watch: $183 – Yearly Resistance: Marks the yearly high and is the most important barrier in the short term. A sustained breakout above this level could drive the continuation of the broader bullish trend seen in recent weeks. $173 – Nearby Barrier: Aligns with the zone marked by the Ichimoku cloud. Price action around this level could generate neutrality and extend the ongoing sideways formation. $162 – Critical Support: Matches the 100-period moving average and the 23.6% Fibonacci retracement. A break below this support would activate a more relevant bearish bias, opening the door to a short-term downtrend. Written by Julian Pineda, CFA – Market Analyst

Gold has bounced back today after retreating on the back of the FOMC decision – hardly a surprise, given the dollar’s bounce. Because gold is priced in dollars, the relationship is crucial: when the dollar strengthens, gold often softens. The question now is whether gold's latest pullback from a record is the start of something more meaningful, or just a pause before the bullish trend resumes. That really is the million-dollar question, but with prices already rebounding today, I wouldn't bet against it rising to a new high. From a technical perspective, the RSI had already been at overbought levels on the daily and weekly charts, and even on the monthly time frame gold has been flashing overbought for some time. A pullback, therefore, was technically justified, which has now happened. But that was a mild pullback, which underscores the strong momentum behind the metal. On the daily chart, prices met resistance at the psychologically significant $3,700 level, which is a level to keep an eye on should we get there again. On the downside, $3,626 is the first initial support, which has held so far. Below that $3,600 is the next obvious support, followed by $3,565, which coincides with the high of a recent hammer candle and the 21-day exponential moving average. Below that, $3,500 comes into view, and then a broader support region around $3,430 to $3,450. The real line in the sand is the August low. If gold were to fall below there, we’d have our first lower low, which would be a major warning sign of a reversal. But as things stand, we’re still a long way from that point. By Fawad Razaqzada, market analyst with FOREX.com

We’re approaching what may be a key moment for bitcoin’s medium-term directional risks, with the price sandwiched between horizontal resistance at $117,600 on the topside and the 50-day moving average and September uptrend on the downside. Whichever way it breaks—if that happens—may provide clues as to whether we’ll see another retest of the record high of $124,500. From a momentum perspective, upside is favoured: RSI (14) continues to set higher highs above 50, while MACD has staged a bullish crossover of the signal line and is now pushing into positive territory. It’s not a slam-dunk case for bulls, but it’s a better backdrop than for bears. Should we see a break above Thursday’s high and preferably a close, longs could be established above $117,600 with a stop beneath for protection. Minor resistance is located at $119,000, putting that on the radar as an initial target. If that level is cleared, eyes will then turn to a potential retest of the August highs. Of note, bitcoin has performed particularly well in the December quarter recently, coinciding with the Fed’s dovish pivot in 2023 and Fed rate cuts and Donald Trump’s re-election in 2024. That doesn’t guarantee a similar outcome this time, but with the Fed signalling further rate cuts this year, it probably doesn’t hurt the bullish case either. Should bitcoin break beneath the 50DMA/September uptrend, it could sow the seeds for a bearish setup, where shorts could be established beneath with a stop above, targeting $113,500 initially. Good luck! DS

Initial support comes in at $3655/50 area, followed by $3564, before the focus turns to the more significant $3,500 level. Will we see a dip to any of these levels today, and get a bounce? Well, a lot depends on the FOMC. Yesterday saw sold and stock averages both pulled back in unison from record highs ahead of the FOMC rate decision, suggesting the move was driven by profit-taking. The dollar’s renewed drop against the yen and yuan today suggests the gold selling may be limited and the metal could even rally to a new high if the Fed turns out to be a little more on the dovish side of things today. From a macro point of view, today's housing market data disappointed with both housing starts and building permits fall. This comes on the back of retail sales data from yesterday, which rose more than expected, but does it matter? Well, the retails data suggests it is not all doom and gloom out there, but this is probably too little too late to prevent a rate cut today. The Fed has clearly signalled it will trim rates and everyone expects them to do so. But the recent dollar selling was never about this week’s likely rate cut. It was all about whether we will get one or two more cuts before the year is out. Well, the jury is still out on that, as surely one retail sales report is unlikely to sway the Fed in one or the other direction. So, from a rate cut perspective, traders may take the retail sales beat in their stride and continue to buy dips in foreign currencies and gold. By Fawad Razaqzada, market analyst with FOREX.com

Gold is coiling within a bull pennant pattern on the hourly, pointing to the potential for a topside break and eventual retest of the record high at $3674.80. Should we close above pennant resistance, longs could be established on the break with a stop beneath for protection. $3656 looms as an initial target, given the price tagged it on no fewer than 11 occasions over the past week but only closed above it once—when the record high was set. If the price can successfully push above $3660 and hold there, it may encourage additional bulls to join in the move targeting $3674.80. An alternative setup would be to wait for a potential break and close above $3660 before initiating longs, allowing for a stop to be placed beneath for protection while targeting the record highs. Momentum indicators are providing an inconclusive message on directional risks with RSI (14) and MACD sitting in neutral territory. More emphasis should therefore be placed on price action for guidance rather than adopting a specific bias. Good luck! DS

Gold has been in a massive bullish trend going back to last February, when it started to finally leave behind the $2k/oz level. There have been two pause points along the way, with bull pennants building in the final two months of last year and then for four months this year. Jerome Powell's speech at Jackson Hole drove a parabolic breakout from that second bull pennant, and buyers have been very much in-control ever since. But this week finally saw some resistance set in that was able to pause the move. The Fibonacci retracement spans the move from June and perhaps more notably the 161.8% extension had previously provided some resistance during the breakout. The reason this matters is it helps to identify support. That 161.8% extension is at 3577, and if we do see a larger pullback around the Fed next week, that becomes a major spot of emphasis. And the 127.2% extension is also of note, as that price is confluent with the 3500 level and if we get a larger pullback, that becomes the spot for bulls to defend. And for traders that are looking for bullish exposure, that's a significant test of the move. - js