Gold is currently trading within an ascending triangle pattern on the H1 chart, with support around the 3,322 zone and resistance near 3,359 USD. Recent price action shows strong bounces from the support line, along with a series of bullish Fair Value Gaps — indicating clear buying strength.
Fundamental factors supporting the upside:
– Weak U.S. job data lowers expectations for prolonged high interest rates from the Fed.
– The U.S. dollar is weakening due to inflation pressure and fiscal uncertainty.
– Rising geopolitical tensions and increased U.S. spending are boosting safe-haven demand for gold.
Strategy: Look for buy opportunities on a retest of the 3,322–3,326 zone. Target the 3,359 USD level, with potential for further upside if the triangle breaks to the top. Watch out for invalidation if price falls below support.
Fundamental factors supporting the upside:
– Weak U.S. job data lowers expectations for prolonged high interest rates from the Fed.
– The U.S. dollar is weakening due to inflation pressure and fiscal uncertainty.
– Rising geopolitical tensions and increased U.S. spending are boosting safe-haven demand for gold.
Strategy: Look for buy opportunities on a retest of the 3,322–3,326 zone. Target the 3,359 USD level, with potential for further upside if the triangle breaks to the top. Watch out for invalidation if price falls below support.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 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.