📊 Market Drivers
Gold has just climbed to $3,330/oz, supported by ongoing safe-haven demand and a slightly weaker U.S. dollar ahead of Fed Chair Powell’s speech. Investor expectations of a rate cut in September are keeping bullish momentum alive.
________________________________________
📉 Technical Analysis
• Resistance:
→ $3,330–3,335 (50-day SMA & Fibonacci level)
A breakout above $3,335 could open the door to $3,350+.
• Support:
→ $3,300–3,310 (psychological level & EMA9)
→ Next support lies at $3,275–3,280 if the first zone breaks.
• EMA09:
Price is currently above the 9-EMA, confirming a short-term bullish trend.
• Momentum Indicators:
o MACD is bullish; Stochastics is high — all signaling upside, though a short-term pullback may occur if the resistance holds.
________________________________________
📌 Outlook
Gold is likely to continue climbing in the short term if it breaks above the $3,330–$3,335 resistance zone, fueled by bullish sentiment and dovish Fed expectations.
If it fails to break higher, a minor correction toward $3,300–$3,310 could follow.
________________________________________
💡 Suggested Trade Strategy
BUY XAU/USD : $3,320–3,325
🎯 TP: 40/80/200 pips
❌ SL: $3,310
SELL XAU/USD : $3,340–3,345
🎯 TP: 40/80/200 pips
❌ SL: $3,350
Gold has just climbed to $3,330/oz, supported by ongoing safe-haven demand and a slightly weaker U.S. dollar ahead of Fed Chair Powell’s speech. Investor expectations of a rate cut in September are keeping bullish momentum alive.
________________________________________
📉 Technical Analysis
• Resistance:
→ $3,330–3,335 (50-day SMA & Fibonacci level)
A breakout above $3,335 could open the door to $3,350+.
• Support:
→ $3,300–3,310 (psychological level & EMA9)
→ Next support lies at $3,275–3,280 if the first zone breaks.
• EMA09:
Price is currently above the 9-EMA, confirming a short-term bullish trend.
• Momentum Indicators:
o MACD is bullish; Stochastics is high — all signaling upside, though a short-term pullback may occur if the resistance holds.
________________________________________
📌 Outlook
Gold is likely to continue climbing in the short term if it breaks above the $3,330–$3,335 resistance zone, fueled by bullish sentiment and dovish Fed expectations.
If it fails to break higher, a minor correction toward $3,300–$3,310 could follow.
________________________________________
💡 Suggested Trade Strategy
BUY XAU/USD : $3,320–3,325
🎯 TP: 40/80/200 pips
❌ SL: $3,310
SELL XAU/USD : $3,340–3,345
🎯 TP: 40/80/200 pips
❌ SL: $3,350
Trade active
Gold touch 3337Trade closed: target reached
Gold has reached a resistance zone and is showing signs of declining due to profit-taking pressure.
📊 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.
📊 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.