KINGSLIGHTFX

Gold recently experienced a sharp correction due to weak fundamental drivers, but demand has now picked up, creating potential buying interest. A pullback into the 50–78% Fibonacci retracement zone could present a buying opportunity, with the next supply zone expected around 3370–3390.

The US dollar is gaining strength following Tuesday's CPI report, which showed a 2.7% inflation rate. This development is likely to benefit gold bears. On the chart, gold is currently trading within a range, but this could be the catalyst for a significant drop to $3300. With gold currently trading at $3340 and facing resistance, the upcoming core CPI report could further impact gold's value. If the report favors the dollar again, gold prices may decline even further.

Gold remains under pressure after a false breakout at $3,350, as the dollar's sudden strength dominates the market. Despite Powell's slightly dovish tone, Tuesday's PMI and JOLTs job data favored the dollar, keeping the market in limbo. Technically, gold has established a new range between $3,350 and $3,300. A drop to the lower end of this range could spark short-term buying opportunities. With the ADP numbers on the horizon, the market awaits further cues.

Gold has recouped 70% of its prior week's losses, driven by dollar weakness ahead of key events: Powell's speech, PMI data, and JOLTs job openings. Breaking out of its average daily range (ADR), gold trades above the $3,350 liquidity zone. Investors await fundamental data for direction. If the data favors the dollar or Powell's tone remains hawkish, gold may dip to $3,334-$3,300. Conversely, a favorable outcome could propel gold towards $3,380-$3,400 resistance levels with minimal pullback.

Gold is rebounding after sweeping Friday's low liquidity, driven by a weak dollar. Despite the upside move, the 1-hour structure remains bearish. We anticipate a potential false breakout above $3,307.00 followed by a sell-off back to the $3,271.00 lows. If the bulls can regain control, gold may bounce back and resume its growth. However, failure to do so could lead to a decline towards the $3,245 support level

Bitcoin has rallied to $108k after sweeping liquidity below $98k, driven by easing geopolitical tensions in the Middle East. The cryptocurrency's fundamentals and structural trends suggest room for growth, but it appears to have exhausted its momentum, entering a consolidation or accumulation phase. Technically, the 4-hour chart is limited, but a potential correction to $104k-$103k could occur before further growth. For now, traders can focus on short-term buys and sells in the $106k-$108k range, awaiting clearer direction.

Bitcoin appears to be losing momentum, with buying pressure easing. This could signal a short-term selling opportunity as the market enters a correction phase.

Yesterday, gold fulfilled our expectations and provided a buying opportunity. Currently, gold's growth appears capped as investors await further US economic data to inform their decisions. With market uncertainty persisting, sentiment remains mixed. As a result, gold may continue to trade within the range of $3,340 and $3,300. A potential shorting opportunity might arise below $3,322 if gold reaches for liquidity above $3,347.

Gold ended a choppy week on a hopeful note, surging during the New York opening after Fed Governor Christopher Waller's comments hinted at a potential rate cut as early as July. However, most policymakers favor a wait-and-see approach, suggesting a possible delay until September. Meanwhile, escalating Middle East tensions could boost gold's appeal. Technically, gold's higher timeframe remains bullish, but the 1-hour chart shows a bearish correction to the $3,340 support. We'll monitor the market's opening closely. If gold stabilizes above $3,368, it could target $3,405, $3,425, or even $3,450. Conversely, a decline could lead to $3,333, $3,320, or $3,308.

BTCUSD experienced a sell-off, filling the gap, but buyers stepped in, mitigating the decline. If buyers hold and consolidate above $105,500, it could pave the way for a potential rally towards $108,000-$110,000. What's your outlook, traders