📊 Market Overview:
Gold reached a new intraday high at $3,447 today, supported by a weaker USD and stable U.S. Treasury yields. Prices then pulled back slightly to $3,423 amid short-term profit-taking. Ongoing geopolitical uncertainty and expectations that the Fed may hold or cut rates continue to drive demand for safe-haven assets like gold.
📉 Technical Analysis:
Key Resistance Levels:
• $3,447 – Intraday high on June 13
• $3,465 – Strong Fibonacci extension resistance
• $3,480 – Next upside target if price breaks above $3,447
Key Support Levels:
• $3,423 – Current price and intraday congestion zone
• $3,410 – Minor support on the H4 chart
• $3,400 – Psychological support & 20-day MA
• EMA: Price is trading above the 09-day EMA → short-term trend remains bullish
• Candlestick / Volume / Momentum:
Strong bullish candle with high volume; RSI at 67 indicates further upside potential. Short lower wicks suggest limited selling pressure. MACD on both H4 and daily charts favors continued upside momentum.
📌 Outlook:
Gold is likely to continue rising if it holds the $3,410–$3,423 support zone. A break above $3,447 may open the path toward $3,480 or higher.
💡 Suggested Trading Strategy:
🔺 BUY XAU/USD:
• Entry: $3,420 – $3,425
• 🎯 TP: $3,480
• ❌ SL: $3,408
🔻 SELL XAU/USD
• Entry: $3,445 – $3,450
• 🎯 TP: $3,423 – $3,410
• ❌ SL: $3,457
Gold reached a new intraday high at $3,447 today, supported by a weaker USD and stable U.S. Treasury yields. Prices then pulled back slightly to $3,423 amid short-term profit-taking. Ongoing geopolitical uncertainty and expectations that the Fed may hold or cut rates continue to drive demand for safe-haven assets like gold.
📉 Technical Analysis:
Key Resistance Levels:
• $3,447 – Intraday high on June 13
• $3,465 – Strong Fibonacci extension resistance
• $3,480 – Next upside target if price breaks above $3,447
Key Support Levels:
• $3,423 – Current price and intraday congestion zone
• $3,410 – Minor support on the H4 chart
• $3,400 – Psychological support & 20-day MA
• EMA: Price is trading above the 09-day EMA → short-term trend remains bullish
• Candlestick / Volume / Momentum:
Strong bullish candle with high volume; RSI at 67 indicates further upside potential. Short lower wicks suggest limited selling pressure. MACD on both H4 and daily charts favors continued upside momentum.
📌 Outlook:
Gold is likely to continue rising if it holds the $3,410–$3,423 support zone. A break above $3,447 may open the path toward $3,480 or higher.
💡 Suggested Trading Strategy:
🔺 BUY XAU/USD:
• Entry: $3,420 – $3,425
• 🎯 TP: $3,480
• ❌ SL: $3,408
🔻 SELL XAU/USD
• Entry: $3,445 – $3,450
• 🎯 TP: $3,423 – $3,410
• ❌ SL: $3,457
Trade active
Gold is expected to surpass the $3,500 mark next week.
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📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
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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.