📊 Market Overview
• Reason: Gold is trading around ~$3,380–$3,400/oz, supported by geopolitical tensions in the Middle East and expectations that the Fed will maintain high interest rates before potentially cutting later this year.
• Weak U.S. economic data (retail sales, housing, industrial production) also adds to safe-haven demand, providing further support for gold prices.
📉 Technical Analysis
• Key resistance: $3,410 – $3,465
• Nearest support: $3,340 – $3,300
• EMA 09 (short-term): Price remains above the 09 EMA, rebounding from ~$3,366 and holding above the 50 EMA → indicates a bullish trend is still intact.
• Candlestick patterns & volume: Bearish engulfing appeared on June 17 but lacked follow-through. Lower volume suggests range-bound movement ahead of the Fed announcement.
📌 Outlook
Gold may continue to rise modestly (bullish) in the short term if:
• The Fed keeps rates unchanged or takes a moderately hawkish stance,
• Geopolitical risks persist,
• U.S. economic data continues to show weakness.
However, a surprise from the Fed or a strong USD could lead to a pullback. Watch key levels: $3,340 (support), $3,410 (resistance).
💡 Suggested Trading Strategy
🔻 SELL XAU/USD
Entry zone: $3,410–$3,420
• 🎯 TP: ~$3,390 – $3,400
• ❌ SL: ~$3,430
•
🔺 BUY XAU/USD
Entry zone: $3,340–$3,350
• 🎯 TP: ~$3,360 – $3,370
• ❌ SL: ~$3,330
• Reason: Gold is trading around ~$3,380–$3,400/oz, supported by geopolitical tensions in the Middle East and expectations that the Fed will maintain high interest rates before potentially cutting later this year.
• Weak U.S. economic data (retail sales, housing, industrial production) also adds to safe-haven demand, providing further support for gold prices.
📉 Technical Analysis
• Key resistance: $3,410 – $3,465
• Nearest support: $3,340 – $3,300
• EMA 09 (short-term): Price remains above the 09 EMA, rebounding from ~$3,366 and holding above the 50 EMA → indicates a bullish trend is still intact.
• Candlestick patterns & volume: Bearish engulfing appeared on June 17 but lacked follow-through. Lower volume suggests range-bound movement ahead of the Fed announcement.
📌 Outlook
Gold may continue to rise modestly (bullish) in the short term if:
• The Fed keeps rates unchanged or takes a moderately hawkish stance,
• Geopolitical risks persist,
• U.S. economic data continues to show weakness.
However, a surprise from the Fed or a strong USD could lead to a pullback. Watch key levels: $3,340 (support), $3,410 (resistance).
💡 Suggested Trading Strategy
🔻 SELL XAU/USD
Entry zone: $3,410–$3,420
• 🎯 TP: ~$3,390 – $3,400
• ❌ SL: ~$3,430
•
🔺 BUY XAU/USD
Entry zone: $3,340–$3,350
• 🎯 TP: ~$3,360 – $3,370
• ❌ SL: ~$3,330
Trade active
Gold dropped to the 3348 zone and then spiked back up to the 3370 area.Trade closed: target reached
Gold is currently trading around $3,371, edging higher amid rising tensions between Israel and Iran, which boost demand for safe-haven assets . Meanwhile, the Fed kept interest rates steady, with expectations of rate cuts later this year. The USD remains relatively firm but lacks the strength to reverse gold’s momentum .
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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.