📊 Market Dynamics:
Spot gold is trading around $3,376.69/oz, down approximately 0.1%, as the US dollar strengthens and investors await Federal Reserve appointments, with continued rate-cut expectations for September
📉 Technical Analysis
• Key Resistance: ~$3,400 (analysts expect a test around this level)
• Nearest Support: ~$3,370 (near current trading range)
• EMA 09 (assumed): Price below EMA 09 → suggests short term bearish or consolidating momentum.
• Candlestick / Volume / Momentum: Mild selling pressure as USD gains, creating short term resistance for gold.
📌 Outlook:
Gold may experience a mild pullback or trade sideways in the short term if the dollar remains firm and no new catalysts strengthen rate cut expectations.
💡 Suggested Trading Strategy:
SELL XAU/USD : ~$3,395–3,398
o TP: 40/80/200 PIPS
o SL: ~$3,401
BUY XAU/USD : ~$3,365–3,370
o TP: 40/80/200 PIPS
o SL: ~$3,360
Spot gold is trading around $3,376.69/oz, down approximately 0.1%, as the US dollar strengthens and investors await Federal Reserve appointments, with continued rate-cut expectations for September
📉 Technical Analysis
• Key Resistance: ~$3,400 (analysts expect a test around this level)
• Nearest Support: ~$3,370 (near current trading range)
• EMA 09 (assumed): Price below EMA 09 → suggests short term bearish or consolidating momentum.
• Candlestick / Volume / Momentum: Mild selling pressure as USD gains, creating short term resistance for gold.
📌 Outlook:
Gold may experience a mild pullback or trade sideways in the short term if the dollar remains firm and no new catalysts strengthen rate cut expectations.
💡 Suggested Trading Strategy:
SELL XAU/USD : ~$3,395–3,398
o TP: 40/80/200 PIPS
o SL: ~$3,401
BUY XAU/USD : ~$3,365–3,370
o TP: 40/80/200 PIPS
o SL: ~$3,360
Trade active
Gold holding above $3375 may rebound to $3400 today.Trade closed: target reached
Gold dropped quickly to the $3371 area but then bounced back up to around $3380 – showing strong buying interest at support.
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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.