Hello everyone, after a strong rally, gold has seen a short-term pullback. On the daily chart, this looks more like profit-taking near all-time highs rather than a genuine reversal. The broader structure remains intact: price is holding above the Ichimoku cloud, the Kijun is sloping upward, and stacked demand FVGs just beneath price signal a healthy uptrend.
In terms of levels, nearby resistance is at 3,555–3,565. A daily close above could naturally open the path toward 3,600–3,620. On the downside, the key buffer lies at 3,525–3,510 (cluster of FVGs + upper cloud edge). Only if a daily close breaks decisively below 3,510 would a deeper correction toward 3,480–3,450 become significant.
News flow also contributes to the pause: ETF outflows and caution ahead of NFP have capped momentum. Still, with safe-haven demand intact (as labour and PMI data hint at economic risks), I see this more as a “lock profit” phase than a trend change.
NFP Scenarios: If data comes strong (USD/yields ↑), gold may retreat toward 3,525–3,510; losing this zone could extend to 3,480–3,450. Conversely, if data is weak (USD/yields ↓), the chance of breaking 3,565 is high, opening the door to 3,600+.
In short, the major trend remains bullish as long as 3,525–3,510 holds. After NFP, a daily close above 3,565 would confirm trend continuation.
What do you think – will gold break 3,565 straight after NFP, or first retest support before heading higher?
In terms of levels, nearby resistance is at 3,555–3,565. A daily close above could naturally open the path toward 3,600–3,620. On the downside, the key buffer lies at 3,525–3,510 (cluster of FVGs + upper cloud edge). Only if a daily close breaks decisively below 3,510 would a deeper correction toward 3,480–3,450 become significant.
News flow also contributes to the pause: ETF outflows and caution ahead of NFP have capped momentum. Still, with safe-haven demand intact (as labour and PMI data hint at economic risks), I see this more as a “lock profit” phase than a trend change.
NFP Scenarios: If data comes strong (USD/yields ↑), gold may retreat toward 3,525–3,510; losing this zone could extend to 3,480–3,450. Conversely, if data is weak (USD/yields ↓), the chance of breaking 3,565 is high, opening the door to 3,600+.
In short, the major trend remains bullish as long as 3,525–3,510 holds. After NFP, a daily close above 3,565 would confirm trend continuation.
What do you think – will gold break 3,565 straight after NFP, or first retest support before heading higher?
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📬 Precision signals.
👨🏫 Real coaching. Real results.
👉🏻Join here: t.me/+jBAj1Jdf4vY1NzM1
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.