Daily Market Analysis By FXOpen

Commercial Content Analysts
1581

Market Analysis: Gold Price and Crude Oil Price Face Hurdles

Gold price started a fresh decline below $2,665. Crude oil prices are now struggling to clear the $70.00 and $70.50 resistance levels.

Important Takeaways for Gold and Oil Prices Analysis Today

  • Gold price climbed higher toward the $2,665 zone before there was a sharp decline against the US Dollar.
  • A key bearish trend line is forming with resistance near $2,632 on the hourly chart of gold at FXOpen.
  • Crude oil prices extended downsides below the $70.00 support zone.
  • A major bearish trend line is forming with resistance near $70.00 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

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On the hourly chart of Gold at FXOpen, the price recovered above the $2,650 resistance. The price even spiked above $2,665 before the bears appeared.

A high was formed near $2,665 before there was a fresh decline. There was a move below the $2,650 support level. The bears even pushed the price below the $2,620 support and the 50-hour simple moving average.

It tested the $2,580 zone. A low formed near $2,582 and the price is now showing bearish signs. There was a minor recovery wave above the 50% Fib retracement level of the downward move from the $2,664 swing high to the $2,582 low.

However, the bears are active below $2,650. Immediate resistance is near $2,630 and a key bearish trend line at $2,632. It is close to the 61.8% Fib retracement level of the downward move from the $2,664 swing high to the $2,582 low.

The next major resistance is near the $2,665 zone. The main resistance could be $2,675, above which the price could test the $2,700 resistance. The next major resistance is $2,720.

An upside break above the $2,720 resistance could send Gold price toward $2,750. Any more gains may perhaps set the pace for an increase toward the $2,770 level.

Initial support on the downside is near the $2,605 level. The first major support is near the $2,580 level. If there is a downside break below the $2,580 support, the price might decline further. In the stated case, the price might drop toward the $2,550 support.

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

1582

XAU/USD Chart Analysis and Analytical Gold Price Forecast for 2025

With the holiday season underway, this week may be less volatile than the previous one, which was dominated by central bank decisions. This presents an opportunity to analyse the broader trends and outlook for gold prices in 2025.

The XAU/USD chart reveals that gold prices have been moving within an ascending channel, gaining approximately 27% since the start of 2024.

The short-term outlook appears bearish due to the following factors:

  • Gold prices fell after last week’s Federal Reserve interest rate cut, signalling increased selling pressure.

  • The $2,720 level remains a key resistance, having reversed the price downward in November and December.

  • While a recent upward reversal (indicated by an arrow) shows renewed buying interest near the lower boundary of the ascending channel, persistent selling pressure could still lead to a bearish trend. This might result in a breakdown below the blue channel’s lower boundary and the formation of a descending channel (outlined in red).

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TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

1583

Tesla (TSLA) Stock Underperforms the Broader Market

Analysing Tesla (TSLA) stock chart on 12th December, we:

→ Identified an ascending channel, with the November price consolidation around $350 (marked by a thick blue line) potentially indicating the median line of the long-term ascending channel (highlighted in blue).

→ Mentioned that TSLA stock price could move toward the upper boundary of the channel, located near the psychological level of $500. However, the stock remained vulnerable to a pullback with a potential test of the $400 level.

What happened after our analysis?

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TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

1584

Analytical US Stock Market Outlook for 2025–2030 and Beyond

The S&P 500 is a cornerstone of the US stock market, reflecting the performance of 500 major companies across diverse industries. This article examines the index’s historical performance, provides a detailed analysis of key drivers shaping its future, and offers insights into what analysts expect in their S&P 500 forecasts for the next 5 years and beyond.

S&P 500 Price History

Established in 1957, the S&P 500, or S&P 500 index, is a benchmark index that tracks 500 of the largest publicly traded companies in the United States. It acts as a key gauge for the overall state of the US economy and financial markets, with the SPDR S&P 500 ETF Trust (SPY) often acting as the primary investment vehicle for the index.

Inception to 2008

The S&P 500 began at a level of 44 in 1957 and steadily climbed, reflecting post-war economic expansion in the US. Significant milestones included the bull market of the 1990s and the early 2000s dot-com bubble, which pushed the index to record highs before the bubble burst. In 2007, the index reached a peak of 1,576, fuelled by strong corporate earnings and speculative investment activity, before the 2008 financial crisis caused a sharp 57% drop to 666 by March 2009.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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1585

European Currencies Correct in Anticipation of a Pre-Holiday Rally

Despite the Federal Reserve’s hawkish stance and the upcoming inauguration of Donald Trump, who has frequently discussed the possibility of new trade tariffs, EUR/USD and GBP/USD managed to find medium-term support last week. Both pairs are now attempting to recover toward recent highs.

GBP/USD

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Last week, GBP/USD broke below the November low at 1.2480. However, the pair quickly rebounded above 1.2500, forming a bullish engulfing reversal pattern.

According to technical analysis, GBP/USD has the potential to rise further toward 1.2660–1.2730 if it can sustain levels above 1.2600. On the downside, a retest of 1.2470 could lead to a downward breakout, potentially driving the pair toward 1.2300–1.2400.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

1586

AMD Stock Price Rebounds from Yearly Low. 2025 Forecast

As the chart indicates, Advanced Micro Devices (AMD) reached its yearly low on 20th December, dropping below $120.

However, on Monday, AMD emerged as one of the top-performing stocks in the market. The trading session opened with a bullish gap, and by the close, the stock had gained approximately 4.5% compared to Friday’s close. Meanwhile, the S&P 500 (US SPX 500 mini on FXOpen) rose by 0.7% on the same day.

According to technical analysis of the AMD stock chart, in 2024, the price formed a descending price channel (highlighted in red), characterised by the following:

  • Bears broke below three trendlines, forming a structure reminiscent of Gann fans.
  • There is a possibility that the fourth (lowest) trendline could serve as a strong support level, preventing the price from reaching the bottom of the channel. The sharp upward reversal from the $120 level may be considered a sign supporting this scenario.

Price action suggests increasing demand, and analysts (as outlined below) believe buyers may play a more active role in 2025.

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TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

1587

NZD/USD Stabilises Ahead of the Holidays

Forex trading is slowing down as the holidays approach, offering a pause after significant movements driven by various news events, including central bank decisions.

Notably, NZD/USD reached its lowest level since October 2022 at the end of last week.

The decline in NZD/USD has been influenced by two main factors:

  1. The dollar gained momentum following the Federal Reserve’s decision to lower the interest rate by 0.25% and its forward guidance for 2025.

  2. According to Reuters:
    → New Zealand’s economy contracted much more sharply than expected in the second and third quarters.
    → Market participants anticipate that the Reserve Bank of New Zealand may lower interest rates by 0.5% in February.

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TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.