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Today Technical Analysis: Gold breaks Above $4,400 as Safe Haven Demand Accelerates

January 5, 2026, 08:05

Gold Technical Analysis

Gold is resuming its uptrend after forming a base near the $4,270 support zone. Price has printed a series of higher highs and higher lows, signaling improving bullish structure.

Price is now trading above the moving averages MA(5) and MA(10), while the 30-period moving average is starting to flatten. The bullish crossover between the short-term averages indicates strengthening upside momentum. As long as price holds above the 30-period moving average, the near-term bias remains constructive. Immediate resistance is seen around $4,450 – $4,500, while 4,350 acts as first dynamic support.

Gold 1H Chart

Gold 1H Chart 05-1-2026
Resistance$4,433$4,459$4,496
Support$4,397$4,371$4,340

EURUSD Technical Analysis

EURUSD is currently trading in short term bearish trend, characterized by lower highs and lower lows. The pair has recently broken below the 1.1700 psychological level, confirming renewed selling pressure and weakening bullish attempts seen earlier in the week.

Price is below all key moving averages (5, 10, and 30). This alignment confirms bearish trend control, and every intraday rally toward the moving averages is being met with selling interest. Immediate support lies near 1.1670, while resistance is now seen at around 1.1730–1.1750.

MACD is deeply negative. Until bullish divergence or a reclaim of the short-term averages occurs, EURUSD remains vulnerable to further declines.

EURUSD 1H Chart

EURUSD 1H Chart 05-01-2026
Resistance1.17031.17191.1730
Support1.16721.16461.1627

Brent Technical Analysis

Oil continues to trade within a broader corrective downtrend, despite a short-term bounce from the $60.40 support area last week. The overall structure remains bearish, with price failing to establish higher highs and repeatedly facing rejection near declining resistance levels.

The moving averages reinforce this bearish bias. Price is currently below the 30-period moving average, while the shorter moving averages are struggling to sustain upward momentum. The $61.20 – $61.50 region now acts as near-term resistance, while a break below $60.40 would expose further downside.

MACD remains below the zero line. This indicates that bearish momentum is easing slightly, but not enough to signal a trend reversal. Unless oil reclaims and holds above the 30-period moving average, downside risks remain dominant.

Brent 1H Chart

Brent 1H Chart 05-01-2026
Resistance$60.59$60.88$61.14
Support$59.93$59.60$59.12

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