Will the 3300 support hold today?

Due to the sudden ceasefire agreement between Iran and Israel today, the gold market quickly flipped from bullish to bearish — when gold tested the 3300 support level just now, it rebounded near 3315 📈.

It may challenge the 3290-3300 support range again later: if it effectively breaks below, the next target is the strong support at 3265, and it may eventually dip to 3200 before starting a rebound 🔄.

If the breakout fails, it may consolidate near 3330, waiting for further market guidance 📊

⚡️⚡️⚡️ XAUUSD ⚡️⚡️⚡️

🚀 Sell@3330 - 3320
🚀 TP 3310 - 3305

Trade active

The 3,300 support level has been breached, and the downward trend is expected to test the support levels at 3,290 and 3,265 📉. If funds permit, try to catch the rebound when price first hits the support zone—go long with a small position 📈. Once in profit, adjust SL to cost and set TP at your discretion

Trade closed: target reached

When the Fed Chair mentioned the possibility of early rate cuts, DXY dipped sharply📉, and gold rebounded from 3,295 to near 3,310—now fluctuating around 3,305📊. Traders who bought long at the support levels we mentioned have now secured profits💹. Congratulations!

Note

Today, as we mentioned yesterday, "If the breakout fails, it may consolidate near 3330, waiting for further market guidance."

Sovereign_11

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Sovereign_11

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