Hello everyone, what do you think about the trend of 
XAUUSD ?
Gold continues its downward trend into the close of the session, currently settling at 3,335 USD and moving near the final support zone. The precious metal remains under pressure as the US Producer Price Index (PPI) rose by 0.9% in July.
From a technical perspective, the recent news continues to act as a barrier for XAUUSD, with the price moving below both the EMA 34 and EMA 89 and being limited by the trendline.
The price wedge is pushing gold down towards lower price zones, and as mentioned, gold is now testing the final support level (in the short term). If this level continues to break, the next target for sellers could be the round level of 3,300 USD.
What do you think about the trend of XAUUSD? Leave your thoughts in the comments!
XAUUSD ?Gold continues its downward trend into the close of the session, currently settling at 3,335 USD and moving near the final support zone. The precious metal remains under pressure as the US Producer Price Index (PPI) rose by 0.9% in July.
From a technical perspective, the recent news continues to act as a barrier for XAUUSD, with the price moving below both the EMA 34 and EMA 89 and being limited by the trendline.
The price wedge is pushing gold down towards lower price zones, and as mentioned, gold is now testing the final support level (in the short term). If this level continues to break, the next target for sellers could be the round level of 3,300 USD.
What do you think about the trend of XAUUSD? Leave your thoughts in the comments!
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✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
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.