📊 Market Update
Gold is currently trading around $3,368–$3,370/oz, up approximately 0.5% today, supported by a weaker USD and slightly declining US Treasury yields. This comes amid global trade concerns and expectations that the Fed may adjust policy in upcoming meetings.
📉 Technical Analysis
•Key Resistance: $3,375–$3,380 (pivot R2: $3,374.9, R3: $3,389.6)
•Nearest Support: $3,360 (S1: $3,335.8)
•EMA: Price is trading above the EMA9 / EMA20 / EMA50 / EMA200, confirming a strong uptrend
•Candlestick / Volume / Momentum:
o MACD & ADX still confirm strong bullish momentum
o Price consolidating in a rectangle range of $3,352–$3,366 → watch for breakout or rejection at resistance
📌 Outlook
Gold may pull back slightly if it fails to break through the $3,375–$3,380 resistance area and RSI continues hovering near overbought levels.
💡 Suggested Trade Strategy
🔻 SELL XAU/USD at: $3,375–$3,380
🎯 TP: 40/80/200 pips
❌ SL: $3,385
🔺 BUY XAU/USD at: $3,345–$3,348
🎯 TP: 40/80/200 pips
❌ SL: $3,339
Gold is currently trading around $3,368–$3,370/oz, up approximately 0.5% today, supported by a weaker USD and slightly declining US Treasury yields. This comes amid global trade concerns and expectations that the Fed may adjust policy in upcoming meetings.
📉 Technical Analysis
•Key Resistance: $3,375–$3,380 (pivot R2: $3,374.9, R3: $3,389.6)
•Nearest Support: $3,360 (S1: $3,335.8)
•EMA: Price is trading above the EMA9 / EMA20 / EMA50 / EMA200, confirming a strong uptrend
•Candlestick / Volume / Momentum:
o MACD & ADX still confirm strong bullish momentum
o Price consolidating in a rectangle range of $3,352–$3,366 → watch for breakout or rejection at resistance
📌 Outlook
Gold may pull back slightly if it fails to break through the $3,375–$3,380 resistance area and RSI continues hovering near overbought levels.
💡 Suggested Trade Strategy
🔻 SELL XAU/USD at: $3,375–$3,380
🎯 TP: 40/80/200 pips
❌ SL: $3,385
🔺 BUY XAU/USD at: $3,345–$3,348
🎯 TP: 40/80/200 pips
❌ SL: $3,339
Trade active
Gold has weakened after testing the $3,375 resistance and is likely to retrace toward the $3,352–$3,355 support zone before determining its next directional move.
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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.