FXEM - EMPIRE MARKETS - Company New Article

To access the website's classic version and the new accounts, please click here

Feb 08, 2026

XAU/USD chart on the weekly time frame

XAU/USD chart on the weekly time frame

For the second consecutive week, gold has exhibited exceptionally high volatility alongside elevated trading volume, with prices oscillating within a broad $4,400 to $5,600 range. 

This $1,200 span constitutes approximately 25% of the asset’s price, representing an unprecedented magnitude of price movement. 

Historically, major market peaks are characterized by expanding volatility, and current technical indicators suggest this extreme volatility may signal the formation of a cyclical top for 2026 at the $5,600 level. 

In the near term, the recent session’s rebound is projected to extend toward the $5,200 resistance zone. 

This area is viewed as a tactical opportunity to initiate short- to medium-term selling positions. 

The medium-term downside target for gold is established within the $3,700–$3,900 range. 

Consequently, the prevailing strategy will remain one of selling on rallies.
 
EURUSD Chart on the weekly time frame

EURUSD Chart on the weekly time frame

Despite closing the week with a loss, the EUR/USD pair maintained its position above the key 1.1800 resistance level for a second consecutive week. 

Technically, the bearish volume for the period was notably subdued compared to the prior week's bullish volume, while momentum indicators such as the MACD sustained a bullish configuration. 

This persistence above resistance, coupled with constructive momentum and volume analysis, increases the probability of a renewed bullish impulse in the near term. 

The medium-term bullish outlook remains intact, with an initial objective at 1.2100. 

A sustained weekly close above 1.1800 could facilitate a further extension toward 1.2300 in the coming weeks.

In line with this analysis, the strategy maintains a long bias toward the stated targets, with risk managed by a stop-loss set at 1.1670.

 
USTEC chart on the weekly time frame

USTEC chart on the weekly time frame

The USTEC index has now completed its twenty-first consecutive week of consolidation within a defined range of approximately 24,000 to 26,200 points. 

Recent price action saw a brief false breakdown below the short-term technical level of 24,675, which was followed by a rebound from the established medium-term support near 24,000. 

While a definitive signal for the next medium-term directional move remains unconfirmed, a technical assessment of monthly indicators suggests an increased probability of a bearish resolution. 

The analysis indicates a higher likelihood of a sustained breakdown below the key 24,000 support level in the coming weeks. 

Until such a decisive breakout occurs, the prevailing strategy is to treat the market as range-bound. 

Tactically, this favors implementing a mean-reversion approach—selling near resistance and buying near support—with the view remaining valid until a confirmed close above 26,200 or below 24,000 is achieved.
 

To open Live account click here 

Previous Post
Technical Analysis of Commodities
Next Post
Technical analysis of currencies
Back

One Trading Account | 50+ Forex Pairs | 80+ Trading Instruments
Multi-Asset Trading Platforms

Open Live Account
Cookie Policy
This website uses cookies to ensure you get the best experience on our website. We use cookies for proper website navigation and function and for statistical and analytical purposes. You can select the cookie categories that you would like to manage through the Cookies Settings at any time. Please configure your Cookies Settings before proceeding. To learn more, please read our Cookies Policy
Settings
Reject
Accept all