📊 Market Summary:
Gold pulled back to around 3,363 USD, currently trading near 3,373 USD USD strength post-Fed comments and overbought conditions are prompting a short-term correction, while geopolitical tensions provide mild underlying support .
📉 Technical Points:
• Resistance: ~3,387–3,388, then 3,400 .
• Support: ~3,363, with secondary support 3,352–3,355 .
• EMA/SMA: Above EMA50, below 20 SMA (~3,347), indicating range-bound behavior
• Momentum: RSI & MACD neutral, Stochastic ~58%—suggesting sideways movement .
📌 Outlook:
Expect continued consolidation between 3,352–3,388. Breach above may lead to breakout, breach below possibly triggers pullback toward 3,320.
💡 Trading Plan:
SELL XAU/USD: 3,380–3,385
• 🎯 TP: ~3,360
• ❌ SL: ~3,395
BUY XAU/USD: 3,363–3,365
• 🎯 TP: ~3,380–3,387
• ❌ SL: ~3,350
Gold pulled back to around 3,363 USD, currently trading near 3,373 USD USD strength post-Fed comments and overbought conditions are prompting a short-term correction, while geopolitical tensions provide mild underlying support .
📉 Technical Points:
• Resistance: ~3,387–3,388, then 3,400 .
• Support: ~3,363, with secondary support 3,352–3,355 .
• EMA/SMA: Above EMA50, below 20 SMA (~3,347), indicating range-bound behavior
• Momentum: RSI & MACD neutral, Stochastic ~58%—suggesting sideways movement .
📌 Outlook:
Expect continued consolidation between 3,352–3,388. Breach above may lead to breakout, breach below possibly triggers pullback toward 3,320.
💡 Trading Plan:
SELL XAU/USD: 3,380–3,385
• 🎯 TP: ~3,360
• ❌ SL: ~3,395
BUY XAU/USD: 3,363–3,365
• 🎯 TP: ~3,380–3,387
• ❌ SL: ~3,350
Trade active
Gold dropped to the 3348 zone and then spiked back up to the 3370 area.
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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.