Gold remains delicately balanced as traders in Asia and Europe proceed with caution. Despite recent USD weakness lending some support, buyers haven’t broken above $3350.
📉 USD Weakness & Market Sentiment – Fragile Recovery?
🔻 Dollar Wobbles: Talk of Fed leadership change is stirring doubt over the USD’s trajectory, adding political risk that may benefit gold.
⚖️ Mixed Sentiment: Gold consolidates in a tight range after early‑week drop. With PCE data and Fed speeches ahead, traders await the next catalyst.
📊 Technical Structure – Consolidation Underway
Gold trades below short‑term EMAs, hinting at a bearish pause or stealth accumulation. Current levels near $329X.
Key Zones:
🟢 Demand (Buy): $3264 / $3276 / $3294
🔴 Supply (Sell): $3313 / $3321 / $3330 / $3341
🎯 Intraday Trading Plan:
🛒 BUY ZONE: $3264–$3266 (SL: $3270; TPs: $3280 → … → $3320)
⚡️ BUY SCALP: $3282–$3284 (SL: $3278; TPs: $3288 → … → $3330)
📉 SELL ZONE: $3331–$3333 (SL: $3337; TPs: $3326 → … → $3300)
⚠️ SELL SCALP: $3313–$3315 (SL: $3320; TPs: $3310 → … → $3280)
🧭 Watchlist: Friday’s PCE, Fed commentary & Middle East tensions may sway price
📉 USD Weakness & Market Sentiment – Fragile Recovery?
🔻 Dollar Wobbles: Talk of Fed leadership change is stirring doubt over the USD’s trajectory, adding political risk that may benefit gold.
⚖️ Mixed Sentiment: Gold consolidates in a tight range after early‑week drop. With PCE data and Fed speeches ahead, traders await the next catalyst.
📊 Technical Structure – Consolidation Underway
Gold trades below short‑term EMAs, hinting at a bearish pause or stealth accumulation. Current levels near $329X.
Key Zones:
🟢 Demand (Buy): $3264 / $3276 / $3294
🔴 Supply (Sell): $3313 / $3321 / $3330 / $3341
🎯 Intraday Trading Plan:
🛒 BUY ZONE: $3264–$3266 (SL: $3270; TPs: $3280 → … → $3320)
⚡️ BUY SCALP: $3282–$3284 (SL: $3278; TPs: $3288 → … → $3330)
📉 SELL ZONE: $3331–$3333 (SL: $3337; TPs: $3326 → … → $3300)
⚠️ SELL SCALP: $3313–$3315 (SL: $3320; TPs: $3310 → … → $3280)
🧭 Watchlist: Friday’s PCE, Fed commentary & Middle East tensions may sway price
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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.