Bullish traders may lose the initiative in the market

Bulls are holding profitable positions, but may lose them

Diverging monetary policy between the Federal Reserve and the Reserve Bank of New Zealand may support spot prices.

Gold remains on the defensive as traders await the U.S. Nonfarm Payrolls (NFP) employment report.

The Japanese yen has been at a disadvantage against the strengthening U.S. dollar for the fourth consecutive day.

GBP/USD: Tips for Beginner Traders on January 9th (U.S. Session)

EUR/USD: Tips for Beginner Traders on January 9th (U.S. Session)

As long as the price consolidates and remains within the uptrend channel, any pullback will be seen as an opportunity to open long positions with targets at $96,500.

The Eagle indicator has reached extremely oversold levels around five points, which means that a technical rebound could occur in the coming hours or days.

Gold could continue to rise in the coming days and reach the 5/8 Murray at $4,531 and could even reach its all-time high around $4,445. Finally, the price could surge to the 6/8 Murray at $4,625.