Hello everyone! What do you think about XAUUSD right now?
Yesterday, XAUUSD extended its decline and is currently trading around 3,315 USD.
The recent drop in gold prices was mainly triggered by a stronger US dollar, following a trade agreement between the US and the European Union (EU).
From a technical perspective, the short-term outlook shows the beginning of a new downtrend. Notably, we see a bearish crossover in the EMA 34 and 89, along with a break of the previous upward trendline—both reinforcing the current bearish momentum.
If there’s a pullback before the next leg down, the 0.5–0.618 Fibonacci retracement zone (which also aligns with resistance and the EMAs) will be a key area to watch. This could be an ideal level for potential trade setups.
Looking ahead, the next support target is around 3,300 USD. If that level breaks, gold might aim for the 32XX region.
Do you think XAUUSD will continue to fall? Drop your thoughts in the comments!
Wishing you successful and profitable trades!
Yesterday, XAUUSD extended its decline and is currently trading around 3,315 USD.
The recent drop in gold prices was mainly triggered by a stronger US dollar, following a trade agreement between the US and the European Union (EU).
From a technical perspective, the short-term outlook shows the beginning of a new downtrend. Notably, we see a bearish crossover in the EMA 34 and 89, along with a break of the previous upward trendline—both reinforcing the current bearish momentum.
If there’s a pullback before the next leg down, the 0.5–0.618 Fibonacci retracement zone (which also aligns with resistance and the EMAs) will be a key area to watch. This could be an ideal level for potential trade setups.
Looking ahead, the next support target is around 3,300 USD. If that level breaks, gold might aim for the 32XX region.
Do you think XAUUSD will continue to fall? Drop your thoughts in the comments!
Wishing you successful and profitable trades!
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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.