📊 Market dynamics:
• Gold prices are holding firm around $3,390.27/oz, while December futures trade near $3,447.40/oz, as investors await the PCE data and further Fed signals.
• CME FedWatch shows over 88% probability of a 25 bps rate cut at the next Fed meeting.
• A weaker USD and ongoing political turmoil around the Fed continue to provide safe-haven support for gold.
📉 Technical analysis:
• Key resistance: $3,400 – $3,435
• Nearest support: $3,375 – $3,384
• EMA 09: Needs to be checked on real-time chart; gold price is consolidating close to short-term moving averages.
• Candlestick / volume / momentum: Recent 2-week highs show some profit-taking pressure, but Fed uncertainty and USD weakness still support short-term bullish momentum.
📌 Outlook:
• In the short term, gold may extend higher if PCE data is weaker and the Fed signals more easing.
• However, if US data surprises on the upside and the Fed stays hawkish, gold could retest the $3,375 – $3,380 support zone.
💡 Suggested trading strategies:
🔻 SELL XAU/USD zone: $3,393 – $3,396
🎯 TP: 40/80/200 pips
🛑 SL: $3,380 – $3,385
🔺 BUY XAU/USD zone: $3,375 – $3,378
🎯 TP: 40/80/200 pips
🛑 SL: $3,365 – $3,370
• Gold prices are holding firm around $3,390.27/oz, while December futures trade near $3,447.40/oz, as investors await the PCE data and further Fed signals.
• CME FedWatch shows over 88% probability of a 25 bps rate cut at the next Fed meeting.
• A weaker USD and ongoing political turmoil around the Fed continue to provide safe-haven support for gold.
📉 Technical analysis:
• Key resistance: $3,400 – $3,435
• Nearest support: $3,375 – $3,384
• EMA 09: Needs to be checked on real-time chart; gold price is consolidating close to short-term moving averages.
• Candlestick / volume / momentum: Recent 2-week highs show some profit-taking pressure, but Fed uncertainty and USD weakness still support short-term bullish momentum.
📌 Outlook:
• In the short term, gold may extend higher if PCE data is weaker and the Fed signals more easing.
• However, if US data surprises on the upside and the Fed stays hawkish, gold could retest the $3,375 – $3,380 support zone.
💡 Suggested trading strategies:
🔻 SELL XAU/USD zone: $3,393 – $3,396
🎯 TP: 40/80/200 pips
🛑 SL: $3,380 – $3,385
🔺 BUY XAU/USD zone: $3,375 – $3,378
🎯 TP: 40/80/200 pips
🛑 SL: $3,365 – $3,370
Trade active
Edit the Stop Loss for the Sell signal at 3399 and the Stop Loss for the Buy signal at 3372Trade closed: target reached
Sideways Before a Breakout
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📰 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.
📊 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.