Gold is moving within an ascending channel on the 3-hour timeframe. After touching the resistance zone at 3,445–3,460, XAUUSD shows signs of consolidation and is likely to correct down to the support zone at 3,390–3,400 — aligning with the trendline and EMA34.
Strategy:
Watch for buying opportunities around the 3,390–3,400 zone when there are confirmation signals.
Target: 3,445–3,460, and potentially up to the 3,480–3,500 zone.
Stop loss if price falls below EMA89 (3,352).
Supporting news:
U.S. CPI data for May came in lower than expected (0.0% vs 0.1%) → Raises expectations of an earlier Fed rate cut → Supports the gold uptrend.
Strategy:
Watch for buying opportunities around the 3,390–3,400 zone when there are confirmation signals.
Target: 3,445–3,460, and potentially up to the 3,480–3,500 zone.
Stop loss if price falls below EMA89 (3,352).
Supporting news:
U.S. CPI data for May came in lower than expected (0.0% vs 0.1%) → Raises expectations of an earlier Fed rate cut → Supports the gold uptrend.
Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.
Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.