📈 Short-Term Trend Analysis – XAU/USD
On the H1 timeframe, gold price formed a short-term top at $3,170, then sharply declined to the $3,150 area.
The current price action shows a pattern of lower highs and lower lows, indicating a clear bearish trend.
Price has broken below the EMA20 and is trading below the EMA50 on the H1 chart – signaling a loss of bullish momentum in the short term.
This reflects market hesitation ahead of key U.S. economic data and the upcoming Fed speech.
📊 Short-Term Technical Scenario
Main Scenario: SELL ON BREAK OF SUPPORT AT $3,150
Sell Entry: Below $3,148 (confirmation of support break)
Stop Loss (SL): $3,158 (above the 23.6% Fibonacci retracement)
Take Profit (TP):
TP1: $3,139 (Fibonacci 61.8%)
TP2: $3,131 (Fibonacci 78.6%)
TP3: $3,120 (strong support zone, previous swing low)
🔔 Important Notes
Closely monitor Fed Chair Jerome Powell’s speech later today. If he hints at maintaining higher interest rates, gold may continue its downward momentum.
A break below $3,120 would shift the trend from short-term bearish to medium-term bearish, with extended targets around $3,100 – $3,080.
On the H1 timeframe, gold price formed a short-term top at $3,170, then sharply declined to the $3,150 area.
The current price action shows a pattern of lower highs and lower lows, indicating a clear bearish trend.
Price has broken below the EMA20 and is trading below the EMA50 on the H1 chart – signaling a loss of bullish momentum in the short term.
This reflects market hesitation ahead of key U.S. economic data and the upcoming Fed speech.
📊 Short-Term Technical Scenario
Main Scenario: SELL ON BREAK OF SUPPORT AT $3,150
Sell Entry: Below $3,148 (confirmation of support break)
Stop Loss (SL): $3,158 (above the 23.6% Fibonacci retracement)
Take Profit (TP):
TP1: $3,139 (Fibonacci 61.8%)
TP2: $3,131 (Fibonacci 78.6%)
TP3: $3,120 (strong support zone, previous swing low)
🔔 Important Notes
Closely monitor Fed Chair Jerome Powell’s speech later today. If he hints at maintaining higher interest rates, gold may continue its downward momentum.
A break below $3,120 would shift the trend from short-term bearish to medium-term bearish, with extended targets around $3,100 – $3,080.
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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.