📊 Market Overview
Gold is consolidating as traders await Fed Chair Powell’s speech at Jackson Hole. A slightly firmer USD is acting as a mild headwind.
Reuters reported spot gold trading around $3,340/oz earlier today with a wait-and-see tone.
📉 Technical Analysis
• Key Resistance: 3,361 → next levels 3,375–3,400.
• Nearest Support: 3,323 → next levels 3,300–3,285.
• EMA: Price is trading below EMA50, signaling short-term bearish pressure.
• Pattern / Momentum: Market is in a consolidation phase, with selling pressure emerging near resistance. Bearish bias likely if 3,350–3,361 fails to break.
📌 Outlook
In the short term, gold is expected to range-trade between 3,323 and 3,361.
• Holding above 3,323 favors a bounce toward 3,340–3,350.
• A break below 3,323 risks a move down to 3,315–3,310.
💡 Suggested Trading Strategy
SELL XAU/USD at: 3,350–3,360
🎯 TP: ~3,330 ❌ SL: ~3,370
BUY XAU/USD at: 3,330–3,322
🎯 TP: ~3,350 ❌ SL: ~3,312
Gold is consolidating as traders await Fed Chair Powell’s speech at Jackson Hole. A slightly firmer USD is acting as a mild headwind.
Reuters reported spot gold trading around $3,340/oz earlier today with a wait-and-see tone.
📉 Technical Analysis
• Key Resistance: 3,361 → next levels 3,375–3,400.
• Nearest Support: 3,323 → next levels 3,300–3,285.
• EMA: Price is trading below EMA50, signaling short-term bearish pressure.
• Pattern / Momentum: Market is in a consolidation phase, with selling pressure emerging near resistance. Bearish bias likely if 3,350–3,361 fails to break.
📌 Outlook
In the short term, gold is expected to range-trade between 3,323 and 3,361.
• Holding above 3,323 favors a bounce toward 3,340–3,350.
• A break below 3,323 risks a move down to 3,315–3,310.
💡 Suggested Trading Strategy
SELL XAU/USD at: 3,350–3,360
🎯 TP: ~3,330 ❌ SL: ~3,370
BUY XAU/USD at: 3,330–3,322
🎯 TP: ~3,350 ❌ SL: ~3,312
Trade active
Gold is consolidating around 3340, waiting for a breakout; above 3350 may head to 3365, while below 3335 could drop toward 3320.Trade closed: target reached
Gold has broken 3340, short-term trend leans bearish, potentially dropping to 3320–3310 if it fails to reclaim 3340.
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Disclaimer
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📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
Related publications
Disclaimer
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.