📊 Market Overview:
Gold is currently steady around $3,350/oz after intraday moves between $3,341 and $3,375, according to Investing.com. Reuters reports spot gold near $3,357.65/oz, supported by expectations of Fed rate cuts and a softer USD.
📉 Technical Analysis:
• Key Resistance: $3,400
• Nearest Support: $3,341 – $3,342
• EMA 09: Price is hovering near the 9-day EMA, showing a short-term neutral bias.
• Candlestick / Volume / Momentum: Small-bodied candles with long wicks indicate market indecision, awaiting clear macroeconomic cues.
📌 Outlook:
Gold may range sideways around $3,350 in the short term unless new economic data triggers strong movement. A weaker dollar or stronger rate-cut expectations could lift prices toward $3,360–$3,400, while renewed USD strength may pressure gold down to $3,340 or lower.
💡 Suggested Trading Strategy:
SELL XAU/USD: $3,362 – $3,365
🎯 TP: 40/80/200 pips
❌ SL: $3,368
BUY XAU/USD: $3,340 – $3,343
🎯 TP: $3,360
❌ SL: $3,337
Gold is currently steady around $3,350/oz after intraday moves between $3,341 and $3,375, according to Investing.com. Reuters reports spot gold near $3,357.65/oz, supported by expectations of Fed rate cuts and a softer USD.
📉 Technical Analysis:
• Key Resistance: $3,400
• Nearest Support: $3,341 – $3,342
• EMA 09: Price is hovering near the 9-day EMA, showing a short-term neutral bias.
• Candlestick / Volume / Momentum: Small-bodied candles with long wicks indicate market indecision, awaiting clear macroeconomic cues.
📌 Outlook:
Gold may range sideways around $3,350 in the short term unless new economic data triggers strong movement. A weaker dollar or stronger rate-cut expectations could lift prices toward $3,360–$3,400, while renewed USD strength may pressure gold down to $3,340 or lower.
💡 Suggested Trading Strategy:
SELL XAU/USD: $3,362 – $3,365
🎯 TP: 40/80/200 pips
❌ SL: $3,368
BUY XAU/USD: $3,340 – $3,343
🎯 TP: $3,360
❌ SL: $3,337
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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.