📊 Market Overview:
Gold is currently trading around $3,330–$3,335/oz, supported by a softer US Dollar and cautious sentiment ahead of key US labor data. According to TradingView, gold is consolidating in a tight range, reflecting market indecision while awaiting a clear breakout signal.
📉 Technical Analysis:
• Key resistance: $3,345–3,350 – a strong supply zone that recently rejected price.
• Nearest support: $3,320–3,330 – multiple bounce points observed here.
• EMA09: Price is hovering around the 09 EMA on both 1h–4h timeframes → neutral/slightly ranging.
• Candlestick / Volume / Momentum:
o A “bearish flag” pattern appears to be forming, suggesting potential for a downside breakout.
o Weak buying volume during upward moves signals limited bullish strength.
📌 Outlook:
• Gold may continue to consolidate between $3,330–$3,345.
• A break above $3,345 with strong volume could open the path to $3,360–$3,380.
• A break below $3,330 could lead to further correction toward $3,300–$3,320.
💡 Suggested Trading Strategy:
SELL XAU/USD at: 3,343 – 3,345
🎯 TP: 40/80/200 pips
❌ SL: 3,355
BUY XAU/USD at: 3,330 – 3,327
🎯 TP: 40/80/200 pips
❌ SL: 3,320
Gold is currently trading around $3,330–$3,335/oz, supported by a softer US Dollar and cautious sentiment ahead of key US labor data. According to TradingView, gold is consolidating in a tight range, reflecting market indecision while awaiting a clear breakout signal.
📉 Technical Analysis:
• Key resistance: $3,345–3,350 – a strong supply zone that recently rejected price.
• Nearest support: $3,320–3,330 – multiple bounce points observed here.
• EMA09: Price is hovering around the 09 EMA on both 1h–4h timeframes → neutral/slightly ranging.
• Candlestick / Volume / Momentum:
o A “bearish flag” pattern appears to be forming, suggesting potential for a downside breakout.
o Weak buying volume during upward moves signals limited bullish strength.
📌 Outlook:
• Gold may continue to consolidate between $3,330–$3,345.
• A break above $3,345 with strong volume could open the path to $3,360–$3,380.
• A break below $3,330 could lead to further correction toward $3,300–$3,320.
💡 Suggested Trading Strategy:
SELL XAU/USD at: 3,343 – 3,345
🎯 TP: 40/80/200 pips
❌ SL: 3,355
BUY XAU/USD at: 3,330 – 3,327
🎯 TP: 40/80/200 pips
❌ SL: 3,320
Trade active
Gold breaks below 3320 and may decline to 3300Trade closed: target reached
Gold just retested the 3297 level but failed to break lower, indicating buying interest at this support. If the price holds above this zone, a short-term rebound is possible.
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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.