📊 Market Overview:
Gold has plunged to $3,290/oz, breaking the key psychological level of $3,300 as the US dollar strengthened and Treasury yields ticked higher. Market sentiment has turned defensive ahead of Friday’s US PCE inflation data, with expectations that the Fed may maintain its hawkish stance for longer.
📉 Technical Analysis:
• Key Resistance: $3,310 – $3,325
• Nearest Support: $3,285 – $3,272
• EMA09: Price is currently below the 9-period EMA, confirming short-term bearish momentum.
• Candlestick / Volume / Momentum:
o H1/H4 charts show a series of long bearish candles, with rising volume → strong selling signal.
o RSI is approaching oversold levels (~28), MACD remains in a widening bearish divergence → downward pressure is still dominant.
📌 Outlook:
Gold is in a clear downtrend and may extend its decline toward $3,285 – $3,272 unless a reversal is triggered by weaker-than-expected PCE data or renewed geopolitical tensions. In the near term, any technical rebound is likely to offer sell opportunities rather than a trend reversal.
💡 Suggested Trade Setup:
🔻 SELL XAU/USD
• Entry: $3,300 – $3,305 (on technical retracement)
• 🎯 TP: $3,285 – $3,272
• 🛑 SL: $3,315
🔺 BUY XAU/USD (high risk)
• Entry: $3,272 – $3,277 (short-term bottom catching)
• 🎯 TP: $3,295 – $3,305
• 🛑 SL: $3,262
Gold has plunged to $3,290/oz, breaking the key psychological level of $3,300 as the US dollar strengthened and Treasury yields ticked higher. Market sentiment has turned defensive ahead of Friday’s US PCE inflation data, with expectations that the Fed may maintain its hawkish stance for longer.
📉 Technical Analysis:
• Key Resistance: $3,310 – $3,325
• Nearest Support: $3,285 – $3,272
• EMA09: Price is currently below the 9-period EMA, confirming short-term bearish momentum.
• Candlestick / Volume / Momentum:
o H1/H4 charts show a series of long bearish candles, with rising volume → strong selling signal.
o RSI is approaching oversold levels (~28), MACD remains in a widening bearish divergence → downward pressure is still dominant.
📌 Outlook:
Gold is in a clear downtrend and may extend its decline toward $3,285 – $3,272 unless a reversal is triggered by weaker-than-expected PCE data or renewed geopolitical tensions. In the near term, any technical rebound is likely to offer sell opportunities rather than a trend reversal.
💡 Suggested Trade Setup:
🔻 SELL XAU/USD
• Entry: $3,300 – $3,305 (on technical retracement)
• 🎯 TP: $3,285 – $3,272
• 🛑 SL: $3,315
🔺 BUY XAU/USD (high risk)
• Entry: $3,272 – $3,277 (short-term bottom catching)
• 🎯 TP: $3,295 – $3,305
• 🛑 SL: $3,262
Trade active
Gold reacted well around 3380 with some buying interest, but the overall trend remains weak unless it breaks above 3395.Trade closed: target reached
Gold is currently trading sideways within a narrow range of 3290 to 3380, reflecting market indecision as traders await clearer signals from macroeconomic data or upcoming events. The limited price movement indicates a tug-of-war between buyers and sellers, with neither side showing enough strength to break out decisively.Key Question:
👉 Will gold break below the 3375 support level, triggering a deeper decline, or bounce back from this zone?
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📈 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.