📊 Market Highlights:
Gold surged to $3,351 earlier today after weaker-than-expected US ISM manufacturing data, which boosted expectations of a Fed rate cut. However, profit-taking quickly pushed prices down to $3,334 before recovering to $3,342.
📉 Technical Analysis:
• Key Resistance: $3,351
• Nearest Support: $3,334
• EMA: Price is above EMA 09 → uptrend still intact.
• Candles / Volume / Momentum: H1 candle shows a long upper wick, indicating selling pressure near the recent high. Bullish momentum is slowing, and volume has started to normalize.
📌 Outlook:
Gold may face a short-term pullback if it fails to break above $3,351 and the USD strengthens during the US session.
________________________________________
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: $3,345 – $3,350
🎯 TP: $3,334
❌ SL: $3,353
🔺 BUY XAU/USD at: $3,332 – $3,334
🎯 TP: $3,350
❌ SL: $3,323
Gold surged to $3,351 earlier today after weaker-than-expected US ISM manufacturing data, which boosted expectations of a Fed rate cut. However, profit-taking quickly pushed prices down to $3,334 before recovering to $3,342.
📉 Technical Analysis:
• Key Resistance: $3,351
• Nearest Support: $3,334
• EMA: Price is above EMA 09 → uptrend still intact.
• Candles / Volume / Momentum: H1 candle shows a long upper wick, indicating selling pressure near the recent high. Bullish momentum is slowing, and volume has started to normalize.
📌 Outlook:
Gold may face a short-term pullback if it fails to break above $3,351 and the USD strengthens during the US session.
________________________________________
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: $3,345 – $3,350
🎯 TP: $3,334
❌ SL: $3,353
🔺 BUY XAU/USD at: $3,332 – $3,334
🎯 TP: $3,350
❌ SL: $3,323
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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.