📊 Market Dynamics:
Gold is trading around $3,401/oz, testing a key technical resistance.
The upcoming U.S. PCE data is in focus, with markets pricing in over 88% probability of a 25 bps Fed rate cut, which supports bullish sentiment for gold.
RBC maintains a long-term bullish outlook, forecasting gold could reach $3,722 – $3,813 by 2025–2026.
📉 Technical Analysis:
• Resistance: $3,401 → $3,416 – $3,435
• Support: $3,374 – $3,389 (pivot $3,350 – $3,375)
• Indicators: RSI has eased from overbought; MA50 still supports short-term upside; overall MA signals: Strong Buy.
📌 Outlook:
• Above $3,401: potential extension to $3,416 – $3,435, possibly $3,440.
• Failure to break: a pullback toward $3,374 – $3,389 is possible.
💡 Trading Strategies:
🔻 SELL XAU/USD
Entry: $3,401 – $3,404
🎯 TP: 40 / 80 / 200 pips
❌ SL: $3,407
🔼 BUY XAU/USD
Entry: $3,394 – $3,398
🎯 TP: 40 / 80 / 200 pips
❌ SL: $3,391
Gold is trading around $3,401/oz, testing a key technical resistance.
The upcoming U.S. PCE data is in focus, with markets pricing in over 88% probability of a 25 bps Fed rate cut, which supports bullish sentiment for gold.
RBC maintains a long-term bullish outlook, forecasting gold could reach $3,722 – $3,813 by 2025–2026.
📉 Technical Analysis:
• Resistance: $3,401 → $3,416 – $3,435
• Support: $3,374 – $3,389 (pivot $3,350 – $3,375)
• Indicators: RSI has eased from overbought; MA50 still supports short-term upside; overall MA signals: Strong Buy.
📌 Outlook:
• Above $3,401: potential extension to $3,416 – $3,435, possibly $3,440.
• Failure to break: a pullback toward $3,374 – $3,389 is possible.
💡 Trading Strategies:
🔻 SELL XAU/USD
Entry: $3,401 – $3,404
🎯 TP: 40 / 80 / 200 pips
❌ SL: $3,407
🔼 BUY XAU/USD
Entry: $3,394 – $3,398
🎯 TP: 40 / 80 / 200 pips
❌ SL: $3,391
Trade active
Gold is consolidating around $3407, with the short-term trend leaning slightly bearish unless it holds above $3405 to retest the $3414–$3417 zone.Trade closed: target reached
In the short term, gold around $3412 is consolidating and may break up to $3430–3450 if the Fed leans toward easing, but the risk of a pullback to $3380–3390 remains
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💡 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.