📊 Market Highlights:
Gold holds firm above $3,280 supported by expectations of future Fed rate cuts, but upside momentum has stalled as traders await this Friday’s U.S. jobs report. A slight rebound in the U.S. dollar and elevated bond yields are pressuring gold in the short term.
📉 Technical Analysis:
• Key Resistances:
– $3,300 (strong psychological and profit-taking level)
– $3,320 (last week’s high – potential heavy selling zone)
• Key Supports:
– $3,255 (short-term dynamic support – EMA 09)
– $3,230 (major support from previous breakout structure)
• EMA 09: Price remains above the 09 EMA → trend still bullish
• Momentum: The bullish momentum is weakening. A shooting star candle near $3,300 and RSI approaching overbought territory (>70) suggest a possible short-term correction.
📌 Outlook:
Gold may retreat to $3,255 or lower if it fails to break above the $3,300–$3,320 resistance zone. However, the overall bullish trend remains intact as long as price holds above $3,230.
💡 Suggested Trade Setup:
🔻 SELL XAU/USD at: $3,295 – $3,300
🎯 TP: 40/80/200 pips
❌ SL: $3,305
🔺 BUY XAU/USD at: $3,255 – $3,260
🎯 TP: 40/80/200 pips
❌ SL: $3,245
Gold holds firm above $3,280 supported by expectations of future Fed rate cuts, but upside momentum has stalled as traders await this Friday’s U.S. jobs report. A slight rebound in the U.S. dollar and elevated bond yields are pressuring gold in the short term.
📉 Technical Analysis:
• Key Resistances:
– $3,300 (strong psychological and profit-taking level)
– $3,320 (last week’s high – potential heavy selling zone)
• Key Supports:
– $3,255 (short-term dynamic support – EMA 09)
– $3,230 (major support from previous breakout structure)
• EMA 09: Price remains above the 09 EMA → trend still bullish
• Momentum: The bullish momentum is weakening. A shooting star candle near $3,300 and RSI approaching overbought territory (>70) suggest a possible short-term correction.
📌 Outlook:
Gold may retreat to $3,255 or lower if it fails to break above the $3,300–$3,320 resistance zone. However, the overall bullish trend remains intact as long as price holds above $3,230.
💡 Suggested Trade Setup:
🔻 SELL XAU/USD at: $3,295 – $3,300
🎯 TP: 40/80/200 pips
❌ SL: $3,305
🔺 BUY XAU/USD at: $3,255 – $3,260
🎯 TP: 40/80/200 pips
❌ SL: $3,245
Trade active
Gold is moving sideways around $3,390–$3,395 amid a lack of fresh drivers. Traders are awaiting clearer signals from U.S. jobs data and dollar movement. Low volatility may precede a breakout.Trade closed: target reached
Gold is consolidating around \$3,280 – holding above \$3,250 may support further upside; a break below could trigger deeper correction. The market is in a wait-and-see phase.
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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.