📊 Market Overview:
Spot gold is trading around $3,329/oz, up ~0.1%, supported by falling U.S. Treasury yields and a slightly weaker dollar, while investors await potential Fed dovish signals or rate cut in September . Meanwhile, easing U.S.–EU trade tensions weighed on safe-haven demand for gold.
📉 Technical Analysis:
• Key Resistance: ~$3,335–3,350 (recent highs and potential test zone)
• Nearest Support: ~$3,310 (previous stable support)
• EMA09 position: Price is above EMA9, indicating a mild bullish bias in the short term
• Momentum/Volume: RSI ~53 (neutral), MACD & StochRSI showing small buy signals. However, bullish momentum is fading, suggesting a possible mild pullback
📌 Conclusion:
Gold may dip modestly toward $3,310 if the dollar strengthens or if Fed rate-cut expectations recede. A break above $3,335–3,350 could pave the way for further gains, though current momentum remains insufficient to confirm a breakout.
💡 Suggested Trade Strategy:
SELL XAU/USD: $3,333–3,336
🎯 Take Profit: 40/80/200 pips
❌ Stop Loss: $3339
BUY XAU/USD: $3,310–3,308
🎯 Take Profit: 40/80/200 pips
❌ Stop Loss: $3305
Spot gold is trading around $3,329/oz, up ~0.1%, supported by falling U.S. Treasury yields and a slightly weaker dollar, while investors await potential Fed dovish signals or rate cut in September . Meanwhile, easing U.S.–EU trade tensions weighed on safe-haven demand for gold.
📉 Technical Analysis:
• Key Resistance: ~$3,335–3,350 (recent highs and potential test zone)
• Nearest Support: ~$3,310 (previous stable support)
• EMA09 position: Price is above EMA9, indicating a mild bullish bias in the short term
• Momentum/Volume: RSI ~53 (neutral), MACD & StochRSI showing small buy signals. However, bullish momentum is fading, suggesting a possible mild pullback
📌 Conclusion:
Gold may dip modestly toward $3,310 if the dollar strengthens or if Fed rate-cut expectations recede. A break above $3,335–3,350 could pave the way for further gains, though current momentum remains insufficient to confirm a breakout.
💡 Suggested Trade Strategy:
SELL XAU/USD: $3,333–3,336
🎯 Take Profit: 40/80/200 pips
❌ Stop Loss: $3339
BUY XAU/USD: $3,310–3,308
🎯 Take Profit: 40/80/200 pips
❌ Stop Loss: $3305
Trade active
After the news, gold dropped sharply as planned.Trade closed: target reached
If the price doesn't break above $3300, there's a high probability it will continue dropping toward $3285
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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.