U.S. data keeps hammering gold: Jobless claims dropped sharply, and manufacturing PMI beat expectations — giving the Fed even more reason to keep rates elevated. This weakens gold’s safe-haven appeal.
On the H4 chart, XAUUSD is hovering just above weak support with a clear distribution pattern. Price has been repeatedly rejected near the FVG zone at 3,390 and is trading below the previous high. If it breaks down from this confluence zone, strong selling pressure could drive it down to 3,311 — where the major trendline intersects a previous green FVG zone.
Strategy: Look to SELL if price fails at 3,390 and confirms a breakdown. Target a failed retest and a drop toward 3,311.
One sharp drop could trigger a deeper wave — are you ready?
On the H4 chart, XAUUSD is hovering just above weak support with a clear distribution pattern. Price has been repeatedly rejected near the FVG zone at 3,390 and is trading below the previous high. If it breaks down from this confluence zone, strong selling pressure could drive it down to 3,311 — where the major trendline intersects a previous green FVG zone.
Strategy: Look to SELL if price fails at 3,390 and confirms a breakdown. Target a failed retest and a drop toward 3,311.
One sharp drop could trigger a deeper wave — are you ready?
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🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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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.
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.