Gold is pressing into a massive wall at 5,170, and after failing twice in this region, the question now is simple: are we looking at the ultimate rejection zone, or is this just a trap before a major breakout? This week has the potential to be explosive. We have US and Japan GDP data, Eurozone CPI, and FOMC meeting minutes all scheduled. Any of these catalysts could determine whether gold rejects hard or rips through resistance. Nikkhil has mapped out the technical structure across timeframes to help you prepare clearly and confidently. Let’s break it down instrument by instrument.
DXY (Dollar Index)
The US Dollar Index remains structurally bearish across the monthly, weekly, and daily timeframes. Lower highs and lower lows continue to print cleanly, and there is no bullish divergence on the higher timeframes to suggest a reversal. Momentum remains negative. However, on the lower timeframes, price is currently compressing into a triangular consolidation pattern.
Nikkhil expects a short-term corrective bounce early in the week, potentially retesting the falling trendline and resistance magnet between 97.39 and 97.50. A brief push into 97.55 - 97.65 would not be surprising. But unless 97.82 and especially 98.43 - 98.68 are reclaimed decisively, which remains low probability, the broader expectation is rejection and continuation lower. Any bounce is likely corrective, not structural.
GBPUSD
The higher timeframes for GBPUSD are aligned in a bullish structure. Monthly, weekly, and daily charts continue to print higher highs and higher lows, supported by positive momentum. However, price is currently sitting at a local resistance band between 1.3656 and 1.3671 on the 4H structure.
Nikkhil expects a short-term pullback at the start of the week. A rejection from this resistance zone could send price back toward 1.3612 initially, with deeper support resting around 1.3565 - 1.3553. Importantly, this pullback is viewed as an invitation to buy and not a trend reversal. As long as higher timeframe structure holds, continuation toward 1.3700, 1.3750, and eventually the 1.4000 psychological magnet remains in play over time.
NASDAQ
NASDAQ remains long-term bullish, but after an extended rally into monthly Fibonacci resistance near 25,815, short-term corrective pressure has developed. The weekly chart shows consolidation, and the daily structure suggests sellers may continue pressing slightly lower before buyers re-emerge.
The key support zone sits around 24,350. Nikkhil anticipates that early-week weakness could test this level. If buyers defend 24,350, a rebound toward 25,273 becomes the first upside target. Should 24,350 fail, the deeper psychological 24,000 region becomes the secondary support where buyers are expected to step in.
With price approaching key support, risk-to-reward shifts dramatically. Don’t miss the chart levels Nikkhil is preparing to act on…
USDJPY
USDJPY has shifted decisively bearish after confirming lower highs and completing a breakup structure on the daily timeframe. Momentum remains firmly in favor of sellers, and rallies are being sold into.
Short-term consolidation or a corrective bounce toward 154 - 155 is possible early in the week. However, any rise into 153.12 - 153.77 or higher into 154.96 is likely to be treated as a selling opportunity. The next key downside target sits at the psychological 150 level, with the broader magnet around 145 in the longer run.
Any bounce could be an invitation to sell…
Silver (XAGUSD)
Silver’s higher timeframe structure remains bullish, despite the sharp corrective crash. The daily trend is intact, and there is no structural damage on monthly or weekly charts. On the 4H timeframe, sellers are showing signs of exhaustion, with bullish divergence forming.
Nikkhil expects early-week softness, potentially pressing price into the 72.84 - 73.88 support band. If that zone holds, reversal toward 82.24 becomes the first upside objective, followed by 83.61. A clean break below 72.84 would shift probability toward deeper support at 66.82 but that remains conditional on a confirmed breakdown.
Silver is volatile and this zone could decide the next multi-day move.
Gold (XAUUSD)
Gold remains structurally ultra-bullish across monthly, weekly, and daily timeframes. After the post-FOMC shakeout that retested the 61.8% retracement near 4,500, buyers stepped in aggressively. Strong higher supports have now formed at 4,850 and 4,914.
The immediate resistance lies at 5,165 - 5,170, the massive wall we’re now approaching. If price pulls back early in the week and 4,914 holds, continuation toward 5,170 remains highly probable. A clean breakout above 5,170 opens the door toward 5,344 and potentially 5,417, the next magnet resistance zone.
If volatility shakes price lower, 4,850 becomes the deeper buy zone. Only a clean break below 4,759 would invalidate the bullish plan. Until then, Nikkhil views every drop as an opportunity to accumulate, not a reason to panic.
This level could trigger a major reaction.
This week is loaded with catalysts. Volatility is likely. Preparation is critical.
Remember to stay patient, let the levels come to you, and execute professionally.
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