Hello everyone, what do you think about 
XAUUSD ? Will it go up or down?
As per our strategy from yesterday, gold has dropped sharply, currently trading around 3,315 USD, and down more than 300 pips from the previous session.
Gold continues to trade within a narrow range as traders await the next catalyst to drive price action, with the upcoming speech by Fed Chairman Jerome Powell being seen as a potential factor. Additionally, the recent recovery of the
DXY index has also put some pressure on the strength of this precious metal.
From a technical perspective, gold has lost the 3,330 USD support level and remains capped below the descending trendline. The price is moving downward following the Dow Theory wave pattern. If favorable, the first profit-taking target (at the 1.618 level) at the round 3,300 USD mark may be pushed lower by the bears.
What do you think? How will gold move? Keep a close eye on the market to spot opportunities, and remember that trading with the trend is always a good strategy.
Good luck!
XAUUSD ? Will it go up or down?As per our strategy from yesterday, gold has dropped sharply, currently trading around 3,315 USD, and down more than 300 pips from the previous session.
Gold continues to trade within a narrow range as traders await the next catalyst to drive price action, with the upcoming speech by Fed Chairman Jerome Powell being seen as a potential factor. Additionally, the recent recovery of the
DXY index has also put some pressure on the strength of this precious metal.From a technical perspective, gold has lost the 3,330 USD support level and remains capped below the descending trendline. The price is moving downward following the Dow Theory wave pattern. If favorable, the first profit-taking target (at the 1.618 level) at the round 3,300 USD mark may be pushed lower by the bears.
What do you think? How will gold move? Keep a close eye on the market to spot opportunities, and remember that trading with the trend is always a good strategy.
Good luck!
Trade active
Gold is adjusting, testing the resistance area at 3,330 USD.Note
Gold has broken the trendline and successfully tested the resistance area.
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✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
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.