📊 Market Drivers:
Spot gold slipped ~0.1% to $3,376/oz, pressured by a firmer USD and caution ahead of Trump’s Fed chair and governor appointments
📉 Technical Analysis
• Key resistance levels:
o $3,390: previous session high – near-term ceiling
o $3,410: weekly high – stronger upside barrier
o $3,435: medium-term resistance – break above confirms strong bullish continuation
• Nearest support levels:
o $3,365: current Asian session low
o $3,345: strong support zone – EMA50 on H4 chart
o $3,305: last week's low – breakdown here may trigger deeper pullback
• EMA: Price remains above EMA09 and EMA50, suggesting a short-term bullish bias, though momentum is slowing.
• Candlestick / Volume / Momentum: Low volume in Asian session; H1 candles show indecision (doji with long wicks), signaling a tug-of-war between buyers and sellers.
📌 Outlook:
Gold may consolidate or dip slightly short-term unless it decisively breaks above $3,395 to confirm a new bullish leg.
________________________________________
💡 Suggested Trading Strategy:
SELL XAU/USD: ~3,392– 3,395
🎯 TP: 40/80/200 pips
❌ SL: ~3,398
BUY XAU/USD : ~3,366 - 3363
🎯 TP: 40/80/200 pips
❌ SL: ~3,360
Spot gold slipped ~0.1% to $3,376/oz, pressured by a firmer USD and caution ahead of Trump’s Fed chair and governor appointments
📉 Technical Analysis
• Key resistance levels:
o $3,390: previous session high – near-term ceiling
o $3,410: weekly high – stronger upside barrier
o $3,435: medium-term resistance – break above confirms strong bullish continuation
• Nearest support levels:
o $3,365: current Asian session low
o $3,345: strong support zone – EMA50 on H4 chart
o $3,305: last week's low – breakdown here may trigger deeper pullback
• EMA: Price remains above EMA09 and EMA50, suggesting a short-term bullish bias, though momentum is slowing.
• Candlestick / Volume / Momentum: Low volume in Asian session; H1 candles show indecision (doji with long wicks), signaling a tug-of-war between buyers and sellers.
📌 Outlook:
Gold may consolidate or dip slightly short-term unless it decisively breaks above $3,395 to confirm a new bullish leg.
________________________________________
💡 Suggested Trading Strategy:
SELL XAU/USD: ~3,392– 3,395
🎯 TP: 40/80/200 pips
❌ SL: ~3,398
BUY XAU/USD : ~3,366 - 3363
🎯 TP: 40/80/200 pips
❌ SL: ~3,360
Trade active
Gold holding above $3,370 indicates strong buying interest; short-term trend leans bullish if it breaks above $3,380.Trade closed: target reached
Closely watch the $3,370 and $3,380 levels — a breakout of either will likely determine the next direction.
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Disclaimer
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📊 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.