📊 Market Overview:
Gold surged to 3444 during the Asian session on rising expectations of an early Fed rate cut after softer-than-expected US CPI data. However, profit-taking pushed prices back to the 3425 zone.
📉 Technical Analysis:
• Key Resistance: 3444
• Nearest Support: 3403 – 3406
• EMA 9: Price remains above EMA 9 → trend is still bullish.
• Momentum & RSI: RSI has cooled off from near-overbought territory (~70), suggesting a short-term pullback may occur.
📌 Outlook:
Gold may correct slightly toward support before resuming its upward trend if the 3403–3406 zone holds firm.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: 3440 – 3444
🎯 TP: 3420
❌ SL: 3449
🔺 BUY XAU/USD at: 3406 – 3403
🎯 TP: 3426
❌ SL: 3399
Gold surged to 3444 during the Asian session on rising expectations of an early Fed rate cut after softer-than-expected US CPI data. However, profit-taking pushed prices back to the 3425 zone.
📉 Technical Analysis:
• Key Resistance: 3444
• Nearest Support: 3403 – 3406
• EMA 9: Price remains above EMA 9 → trend is still bullish.
• Momentum & RSI: RSI has cooled off from near-overbought territory (~70), suggesting a short-term pullback may occur.
📌 Outlook:
Gold may correct slightly toward support before resuming its upward trend if the 3403–3406 zone holds firm.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: 3440 – 3444
🎯 TP: 3420
❌ SL: 3449
🔺 BUY XAU/USD at: 3406 – 3403
🎯 TP: 3426
❌ SL: 3399
Trade active
Gold remains in a short-term bullish trend, contingent on persistent Middle East geopolitical risks and a weak dollar. Still, elevated RSI suggests a possible brief pullback before resuming the rally.
📊 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.
📊 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.