Fundamental Analysis:
The U.S. government has officially ended its shutdown today. The passage of the funding bill will ensure continuous appropriations, providing operational funding for most federal agencies through January 30, 2026.
Following the announcement, White House Press Secretary Levitt stated that due to the earlier government shutdown, it is unlikely that the October Non-Farm Payrolls (NFP) and CPI data will be released as scheduled.
With the market eagerly awaiting data-driven guidance, this unexpected development has instead intensified risk aversion, triggering another sharp rally in gold prices.
Technical Analysis:
On the 4-hour chart, gold prices have reached the 0.618 Fibonacci extension level of the current uptrend, where they are now encountering resistance.
At this stage, chasing the rally carries a potential pullback risk. Therefore, any further bullish positioning should ideally be considered after a corrective retracement.
Support and Resistance:
Support: $2,180 — today’s intraday low and the 0.382 Fibonacci retracement level.
Resistance: $2,240–$2,250 — today’s intraday high and the 0.618 Fibonacci extension level.
Trading Strategy:
Primary bias: Buy on dips; short at highs as a secondary approach.
Entry (Long): Consider buying near $2,180, provided the level holds and is not breached.
Entry (Short): If gold rallies into the $2,240–$2,250 zone and fails to break above, consider short positions from that area.
The U.S. government has officially ended its shutdown today. The passage of the funding bill will ensure continuous appropriations, providing operational funding for most federal agencies through January 30, 2026.
Following the announcement, White House Press Secretary Levitt stated that due to the earlier government shutdown, it is unlikely that the October Non-Farm Payrolls (NFP) and CPI data will be released as scheduled.
With the market eagerly awaiting data-driven guidance, this unexpected development has instead intensified risk aversion, triggering another sharp rally in gold prices.
Technical Analysis:
On the 4-hour chart, gold prices have reached the 0.618 Fibonacci extension level of the current uptrend, where they are now encountering resistance.
At this stage, chasing the rally carries a potential pullback risk. Therefore, any further bullish positioning should ideally be considered after a corrective retracement.
Support and Resistance:
Support: $2,180 — today’s intraday low and the 0.382 Fibonacci retracement level.
Resistance: $2,240–$2,250 — today’s intraday high and the 0.618 Fibonacci extension level.
Trading Strategy:
Primary bias: Buy on dips; short at highs as a secondary approach.
Entry (Long): Consider buying near $2,180, provided the level holds and is not breached.
Entry (Short): If gold rallies into the $2,240–$2,250 zone and fails to break above, consider short positions from that area.
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We accurately predicted the gold price movement this time. After failing to break through the 4240-4050 area, the gold price fell to around 4180 as expected, before rebounding again.
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إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅One person's energy and ability are limited, so why not join us and let professionals do what they do best!
🔴Trading Strategy Sharing Channel:t.me/James_AU0
🟢Contact me to join VIP: t.me/James_AU5
🔴Trading Strategy Sharing Channel:t.me/James_AU0
🟢Contact me to join VIP: t.me/James_AU5
إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.