📊 Market Overview:
• Gold continues to rally in early U.S. session as September rate cut expectations by the Fed rise due to weak jobs data.
• U.S. Dollar weakens and 10Y Treasury yield falls, supporting gold.
• Risk-off flows and long-term inflation concerns push safe-haven demand for gold.
📉 Technical Analysis:
• Key Resistance: $3,390–$3,400 (short-term breakout zone)
• Nearest Support: $3,365–$3,370
• EMA: Price is trading above EMA09 and EMA50, confirming bullish momentum
• Candles / Volume / Momentum: Consecutive bullish H1 & H4 candles above $3,375 confirm breakout. Volume increasing, suggesting strong buying pressure.
📌 Outlook:
Gold may continue rising toward $3,400 if current bullish momentum holds. However, short-term pullback or profit-taking near $3,395–$3,400 is possible after a rapid $50+ rally.
💡 Suggested Trade Setups:
🔺 BUY XAU/USD : $3,375–$3,378 (pullback buy)
🎯 TP: $3,395–$3,400
❌ SL: $3,372
🔻 SELL XAU/USD: $3,397–$3,400 (countertrend short)
🎯 TP: $3,375–$3,380
❌ SL: $3,403
• Gold continues to rally in early U.S. session as September rate cut expectations by the Fed rise due to weak jobs data.
• U.S. Dollar weakens and 10Y Treasury yield falls, supporting gold.
• Risk-off flows and long-term inflation concerns push safe-haven demand for gold.
📉 Technical Analysis:
• Key Resistance: $3,390–$3,400 (short-term breakout zone)
• Nearest Support: $3,365–$3,370
• EMA: Price is trading above EMA09 and EMA50, confirming bullish momentum
• Candles / Volume / Momentum: Consecutive bullish H1 & H4 candles above $3,375 confirm breakout. Volume increasing, suggesting strong buying pressure.
📌 Outlook:
Gold may continue rising toward $3,400 if current bullish momentum holds. However, short-term pullback or profit-taking near $3,395–$3,400 is possible after a rapid $50+ rally.
💡 Suggested Trade Setups:
🔺 BUY XAU/USD : $3,375–$3,378 (pullback buy)
🎯 TP: $3,395–$3,400
❌ SL: $3,372
🔻 SELL XAU/USD: $3,397–$3,400 (countertrend short)
🎯 TP: $3,375–$3,380
❌ SL: $3,403
Trade active
Gold remains bullish; the drop to $3370 was a technical pullback. Holding above this level keeps the chance of a move toward $3390 high.Trade closed: target reached
Gold is currently in a sideways correction, with \$3370 remaining a key short-term support. There's no clear sign of a bearish reversal yet, but candlestick reactions at this level should be closely monitored.
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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.
📊 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.