Gold has made an impressive rally of nearly 720 pips, surging from the recent bottom near 3,260 up to 3,365, following a deeply disappointing U.S. jobs report. Non-Farm Payrolls came in at just 106K, far below expectations, while the unemployment rate climbed to 4.2% — a clear sign that the U.S. economy is slowing down. In this context, the expectation that the Fed will pause rate hikes has become more solid, paving the way for gold to break higher.
Technical analysis on the D1 timeframe shows that XAUUSD remains in a well-established ascending channel that has persisted since late 2024. The recent bounce from the 3,260 support zone was strong, with yesterday's bullish candle confirming that buyers are regaining control.
As long as price holds above the 3,260 support area, the next target lies at the psychological resistance around 3,500, and beyond that — the ambitious 3,600 mark.
Technical analysis on the D1 timeframe shows that XAUUSD remains in a well-established ascending channel that has persisted since late 2024. The recent bounce from the 3,260 support zone was strong, with yesterday's bullish candle confirming that buyers are regaining control.
As long as price holds above the 3,260 support area, the next target lies at the psychological resistance around 3,500, and beyond that — the ambitious 3,600 mark.
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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.