📊 Market Overview:
U.S. June Non-Farm Payrolls came in at 147,000 vs. 110,000 expected, strengthening the dollar and reducing expectations for a July Fed rate cut. As a result, gold dropped nearly 1%, trading in the $3,328–3,332 zone
📉 Technical Analysis:
• Key Resistance: $3,350 – $3,360
• Immediate Support: $3,322 – $3,328
• EMA: Price has fallen below the 09 EMA, indicating a bearish short-term trend.
• Candle/Volume/Momentum: A strong bearish candle with increased volume shows significant selling pressure post-NFP
📌 Outlook:
Gold may continue its downtrend in the short term if the dollar remains strong and no fresh bullish triggers emerge. A drop toward $3,322–$3,328 is possible.
💡 Trade Ideas:
🔻 SELL XAU/USD at: $3,342 – $3,345
🎯 TP: $3,322
❌ SL: $3,348
🔺 BUY XAU/USD at: $3,322 – $3,325
🎯 TP: $3,345
❌ SL: $3,316
U.S. June Non-Farm Payrolls came in at 147,000 vs. 110,000 expected, strengthening the dollar and reducing expectations for a July Fed rate cut. As a result, gold dropped nearly 1%, trading in the $3,328–3,332 zone
📉 Technical Analysis:
• Key Resistance: $3,350 – $3,360
• Immediate Support: $3,322 – $3,328
• EMA: Price has fallen below the 09 EMA, indicating a bearish short-term trend.
• Candle/Volume/Momentum: A strong bearish candle with increased volume shows significant selling pressure post-NFP
📌 Outlook:
Gold may continue its downtrend in the short term if the dollar remains strong and no fresh bullish triggers emerge. A drop toward $3,322–$3,328 is possible.
💡 Trade Ideas:
🔻 SELL XAU/USD at: $3,342 – $3,345
🎯 TP: $3,322
❌ SL: $3,348
🔺 BUY XAU/USD at: $3,322 – $3,325
🎯 TP: $3,345
❌ SL: $3,316
Trade active
Slow but steady, gold finally moved+85 pips from entry 3345$
TP2: Hit
Congratulations!
Trade closed: target reached
The market is moving sideways with an upward bias.
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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.