XAUUSD currently shows a clear uptrend channel, with gold trading above key support levels like 3,407 USD. Both EMA (34) and EMA (89) support the uptrend, as EMA (34) is above EMA (89), indicating strong buying momentum.
Recent news suggests expectations that the Fed will cut interest rates in September, with a probability of up to 87% according to CME's FedWatch tool. This would put downward pressure on the USD and support gold's rise. Concerns about the Fed's monetary policy, especially comments from Trump, also drive the search for safe-haven assets like gold. If gold maintains above current support levels, the next target could be the 3,450 USD resistance zone.
With a clear technical uptrend and fundamental factors supporting it, gold may continue to head towards the 3,450 USD target. Traders may look for buying opportunities as the price adjusts towards support areas near 3,407 USD, with expectations of further short-term gains.
Recent news suggests expectations that the Fed will cut interest rates in September, with a probability of up to 87% according to CME's FedWatch tool. This would put downward pressure on the USD and support gold's rise. Concerns about the Fed's monetary policy, especially comments from Trump, also drive the search for safe-haven assets like gold. If gold maintains above current support levels, the next target could be the 3,450 USD resistance zone.
With a clear technical uptrend and fundamental factors supporting it, gold may continue to head towards the 3,450 USD target. Traders may look for buying opportunities as the price adjusts towards support areas near 3,407 USD, with expectations of further short-term gains.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 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.