📊 Market Drivers
• Gold dropped to around $3,352, touching a key support zone, then quickly rebounded to $3,373, gaining over +20 points.
• The rebound is supported by continued weakness in the US Dollar and slight easing in Treasury yields, keeping gold attractive as a safe haven.
• Although some optimism around US-Japan trade negotiations slightly reduced risk aversion, it wasn’t enough to push gold below support.
📉 Technical Analysis
• Key Resistance:
o $3,397 – $3,400: psychological resistance and near the next bullish breakout zone.
o If breached, next target lies around $3,420–3,445.
• Nearest Support:
o $3,356 – $3,364: recently confirmed support zone that triggered the current rebound.
o Deeper support at $3,326 – $3,320 if the rebound fails.
• EMA (EMA50):
o Price remains above the 50-period EMA, indicating bullish momentum in the short term.
• Patterns & Momentum:
o Market structure shows a "rising low" pattern — a bullish signal that buyers are stepping in at higher levels.
o RSI was briefly in oversold territory and now supports a recovery bounce.
o If $3,356 holds, the upside targets remain valid toward $3,397 → $3,439.
📌 Assessment
• Gold has confirmed strong support at $3,356–3,364, with the rebound from $3,352 as proof.
• Short-term uptrend remains intact, unless the USD strengthens sharply or unexpected macro news hits.
• If gold breaks below $3,356, it may retrace toward $3,326–3,320, but the upside potential is currently favored.
💡 Suggested Trade Setups
BUY XAU/USD: $3,356–3,364
🎯 Take Profit: 40/80/200 pips
❌ Stop Loss: $3,346
SELL XAU/USD: $3,397–3,400
🎯 Take Profit: 40/80/200 pips
❌ Stop Loss: $3,407
• Gold dropped to around $3,352, touching a key support zone, then quickly rebounded to $3,373, gaining over +20 points.
• The rebound is supported by continued weakness in the US Dollar and slight easing in Treasury yields, keeping gold attractive as a safe haven.
• Although some optimism around US-Japan trade negotiations slightly reduced risk aversion, it wasn’t enough to push gold below support.
📉 Technical Analysis
• Key Resistance:
o $3,397 – $3,400: psychological resistance and near the next bullish breakout zone.
o If breached, next target lies around $3,420–3,445.
• Nearest Support:
o $3,356 – $3,364: recently confirmed support zone that triggered the current rebound.
o Deeper support at $3,326 – $3,320 if the rebound fails.
• EMA (EMA50):
o Price remains above the 50-period EMA, indicating bullish momentum in the short term.
• Patterns & Momentum:
o Market structure shows a "rising low" pattern — a bullish signal that buyers are stepping in at higher levels.
o RSI was briefly in oversold territory and now supports a recovery bounce.
o If $3,356 holds, the upside targets remain valid toward $3,397 → $3,439.
📌 Assessment
• Gold has confirmed strong support at $3,356–3,364, with the rebound from $3,352 as proof.
• Short-term uptrend remains intact, unless the USD strengthens sharply or unexpected macro news hits.
• If gold breaks below $3,356, it may retrace toward $3,326–3,320, but the upside potential is currently favored.
💡 Suggested Trade Setups
BUY XAU/USD: $3,356–3,364
🎯 Take Profit: 40/80/200 pips
❌ Stop Loss: $3,346
SELL XAU/USD: $3,397–3,400
🎯 Take Profit: 40/80/200 pips
❌ Stop Loss: $3,407
Trade active
Today's plan is reasonable given the lack of news, with the market leaning toward consolidation and recovery. Priority is to BUY around $3350–3354, and wait for a confirmed breakout above $3377 to extend the upside. Avoid FOMO in the middle of the range.
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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.