📊 Market Overview:
Gold prices dipped around 0.2% to about $3,364/oz as the U.S. dollar rallied, reducing gold's appeal to foreign buyers. Still, expectations of an interest rate cut from the Federal Reserve continue to provide support for bullion
📉 Technical Analysis:
• Key Resistance: around $3,370 – $3,375, with potential upside toward $3,400 if broken
• Nearest Support: around $3,350 – $3,360
• EMA (assumed EMA 09): Price hovering near EMA09; short-term trend unclear—charts needed to confirm breakout or breakdown.
• Candlestick/Volume/Momentum: Slight selling pressure observed; momentum modest, while Fed-driven optimism limits downside.
📌 Outlook:
Gold may edge higher in the short term if the USD weakens and the Fed signals actual easing over upcoming policy moves. A stronger USD may trigger another short-term correction.
________________________________________
💡 Proposed Trading Strategy:
SELL XAU/USD around $3,373 – $3,375
🎯 TP: 40/80/200 pips
❌ SL: ~$3,378
BUY XAU/USD: $3,350 – $3,353
🎯 TP: 40/80/200 pips
❌ SL: ~$3,347
Gold prices dipped around 0.2% to about $3,364/oz as the U.S. dollar rallied, reducing gold's appeal to foreign buyers. Still, expectations of an interest rate cut from the Federal Reserve continue to provide support for bullion
📉 Technical Analysis:
• Key Resistance: around $3,370 – $3,375, with potential upside toward $3,400 if broken
• Nearest Support: around $3,350 – $3,360
• EMA (assumed EMA 09): Price hovering near EMA09; short-term trend unclear—charts needed to confirm breakout or breakdown.
• Candlestick/Volume/Momentum: Slight selling pressure observed; momentum modest, while Fed-driven optimism limits downside.
📌 Outlook:
Gold may edge higher in the short term if the USD weakens and the Fed signals actual easing over upcoming policy moves. A stronger USD may trigger another short-term correction.
________________________________________
💡 Proposed Trading Strategy:
SELL XAU/USD around $3,373 – $3,375
🎯 TP: 40/80/200 pips
❌ SL: ~$3,378
BUY XAU/USD: $3,350 – $3,353
🎯 TP: 40/80/200 pips
❌ SL: ~$3,347
Trade active
Gold is trading around $3,368, with a short-term sideways range of $3,350 – $3,375; holding above $3,350 could push prices toward $3,380–3,400, while breaking below $3,350 may lead to a drop toward $3,335.Trade closed: target reached
The main trend of gold is leaning to the upside, but in the short term, it may consolidate sideways with slight corrections before potentially breaking out as the U.S. session begins
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💡 Technical breakdowns & market outlooks
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Disclaimer
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📊 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.