📊 Market Overview:
Gold prices are extending their gains during the Asian and European sessions today, as the US dollar weakens following weaker-than-expected US jobs data. Rising unemployment and a softer Non-Farm Payroll report boosted expectations that the Fed may cut interest rates in September. The US 10-year Treasury yield also dipped slightly, supporting gold's safe-haven appeal.
📉 Technical Analysis:
• Key Resistance: $3,385 – $3,390
• Nearest Support: $3,365 – $3,370
• EMA: Price is trading above the EMA 09, indicating a short-term bullish trend
• Candles / Volume / Momentum: H1 candles show steady buying pressure with stable volume, but we should monitor potential profit-taking if price nears the $3,390–$3,400 zone.
📌 Outlook:
Gold may continue to rise in the short term if USD weakness persists and bond yields stay low. However, failure to break above $3,390 could lead to a pullback toward support levels.
💡 Suggested Trading Strategy:
🔺 BUY XAU/USD: $3,365 – $3,368
🎯 TP: 40/80/200 pips
❌ SL: $3,362
🔻 SELL XAU/USD : $3,392 – $3,395 (if reversal signal appears)
🎯 TP: 40/80/200 pips
❌ SL: $3,398
Gold prices are extending their gains during the Asian and European sessions today, as the US dollar weakens following weaker-than-expected US jobs data. Rising unemployment and a softer Non-Farm Payroll report boosted expectations that the Fed may cut interest rates in September. The US 10-year Treasury yield also dipped slightly, supporting gold's safe-haven appeal.
📉 Technical Analysis:
• Key Resistance: $3,385 – $3,390
• Nearest Support: $3,365 – $3,370
• EMA: Price is trading above the EMA 09, indicating a short-term bullish trend
• Candles / Volume / Momentum: H1 candles show steady buying pressure with stable volume, but we should monitor potential profit-taking if price nears the $3,390–$3,400 zone.
📌 Outlook:
Gold may continue to rise in the short term if USD weakness persists and bond yields stay low. However, failure to break above $3,390 could lead to a pullback toward support levels.
💡 Suggested Trading Strategy:
🔺 BUY XAU/USD: $3,365 – $3,368
🎯 TP: 40/80/200 pips
❌ SL: $3,362
🔻 SELL XAU/USD : $3,392 – $3,395 (if reversal signal appears)
🎯 TP: 40/80/200 pips
❌ SL: $3,398
Trade active
Gold is pulling back to the $3365–$3366 support zone; if it holds, a rebound may occur during the U.S. session.Trade closed: target reached
Gold is consolidating between $3365–$3375; if it holds above $3365, it may continue rising during the U.S. session, but a break below $3362 could trigger a deeper pullback.
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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.