📊 Market Overview:
• Gold touched the $3,375 resistance zone, its highest level in two weeks, as the US dollar showed slight recovery.
• However, expectations of a Fed rate cut in September remain supportive for gold after Powell’s dovish remarks at Jackson Hole.
📉 Technical Analysis:
• Key Resistance: $3,375 – $3,378
• Nearest Support: $3,350
• EMA 09: Price trading above short-term EMA → bullish momentum intact
• Candle / Volume / Momentum: Indicators (RSI, MACD) show strong buy signals, but the 3375 level is a decisive barrier.
📌 Outlook:
Gold may continue upward if it breaks above $3,378 with strong momentum, targeting $3,392–$3,400.
If price fails at $3,375 and closes below $3,370, a short-term correction toward $3,355–$3,350 is likely.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD
Entry: $3,377 – $3,380
🎯 TP: $40/80/200 pips
🛑 SL: $3,385
🔺 BUY XAU/USD
Entry: $3,350 (support zone)
🎯 TP: $40/80/200 pips
🛑 SL: $3,344
• Gold touched the $3,375 resistance zone, its highest level in two weeks, as the US dollar showed slight recovery.
• However, expectations of a Fed rate cut in September remain supportive for gold after Powell’s dovish remarks at Jackson Hole.
📉 Technical Analysis:
• Key Resistance: $3,375 – $3,378
• Nearest Support: $3,350
• EMA 09: Price trading above short-term EMA → bullish momentum intact
• Candle / Volume / Momentum: Indicators (RSI, MACD) show strong buy signals, but the 3375 level is a decisive barrier.
📌 Outlook:
Gold may continue upward if it breaks above $3,378 with strong momentum, targeting $3,392–$3,400.
If price fails at $3,375 and closes below $3,370, a short-term correction toward $3,355–$3,350 is likely.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD
Entry: $3,377 – $3,380
🎯 TP: $40/80/200 pips
🛑 SL: $3,385
🔺 BUY XAU/USD
Entry: $3,350 (support zone)
🎯 TP: $40/80/200 pips
🛑 SL: $3,344
Trade active
Global gold prices are currently trading around $3,370–$3,390/ounce, supported by Fed rate cut expectations and a weaker US dollar.Trade closed: target reached
Gold is ranging within 3370–3380; wait for a breakout above 3385 to BUY, or a retest of 3350 for a safer BUY, and avoid entering in the middle zone.
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📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
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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.
📊 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.