XAUUSD – Technical & Fundamental OutlookGold prices declined on Monday, pressured by a stronger U.S. dollar following President Trump’s announcement of a potential 10% tariff on BRICS-aligned countries. The news supported the dollar and weakened demand for gold as a safe-haven asset.
Although uncertainty remains around U.S. trade negotiations ahead of the July 9 tariff deadline, signals of possible extensions and staggered implementation have further reduced short-term haven flows into gold.
Technical View:
Gold remains under bearish pressure while trading below 3320.
- As long as the price stays under this level, we expect sideways consolidation between 3297 and 3320 until a breakout occurs.
- A 1H close below 3297 would confirm bearish continuation, targeting 3281 and 3255.
- A break above 3320 would invalidate the bearish outlook and shift momentum toward 3342.
Pivot: 3297
Support Levels: 3281 / 3255 / 3239
Resistance Levels: 3314 / 3320 / 3342
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Trade active
GOLDNew Update
Extended Bearish Move: +280 pip✅
Gold continued its decline after a confirmed 1H candle close below 3297, reaching 3287 as expected. The trend remains bearish, with the next target at 3281.
⚠️ A 15-minute close above 3297 would be a sensitive zone and could lead to choppy movement or a short-term reversal.
Current Range: 3297 – 3281
⚠️ The market will move under the tariff situation
Trade closed: target reached
GOLD – Technical OutlookGold dropped and precisely reached our bearish target at 3282, confirming the bearish setup.
The metal remains under bearish pressure as long as it trades below 3297 on the 4H timeframe.
While below this level, the bearish trend is expected to continue, targeting 3281.
A confirmed 1H or 15M close below 3281 would open the path toward 3270 and 3255.
On the other hand, a 1H or 4H close above 3297 would signal bullish sensitivity, potentially shifting momentum to the upside.
Key Levels
Pivot: 3297
Support: 3282 / 3271 / 3256
Resistance: 3307 / 3320
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.