Market Overview:
• Gold trading around $3,366–3,371 USD/oz, easing from two-week highs.
• Pressure from firmer US yields and USD recovery.
• Weak US jobs data boosted Fed rate cut expectations to ~90%.
• Still supported by global economic/political uncertainties and safe haven demand.
Technical Analysis:
• Resistance: ~$3,385–3,390, near psychological $3,400.
• Support: ~$3,345–3,350; break could target ~$3,310.
• Trading above EMA50, EMA9 direction still bullish short-term.
• RSI and MACD momentum fading; July monthly candle formed bearish “shooting star” near $3,431—invalidated only if price closes above that level.
Outlook
Gold may dip if USD and yields recover; but may rally if macro data deteriorate further. The $3,385–3,390 zone is pivotal.
Trading Strategy:
• Sell 3,392–3,395
TP ~40/80/200 pips
SL ~3,397
• Buy 3,345–3,348
TP ~40/80/200 pips
SL ~3,342
• Gold trading around $3,366–3,371 USD/oz, easing from two-week highs.
• Pressure from firmer US yields and USD recovery.
• Weak US jobs data boosted Fed rate cut expectations to ~90%.
• Still supported by global economic/political uncertainties and safe haven demand.
Technical Analysis:
• Resistance: ~$3,385–3,390, near psychological $3,400.
• Support: ~$3,345–3,350; break could target ~$3,310.
• Trading above EMA50, EMA9 direction still bullish short-term.
• RSI and MACD momentum fading; July monthly candle formed bearish “shooting star” near $3,431—invalidated only if price closes above that level.
Outlook
Gold may dip if USD and yields recover; but may rally if macro data deteriorate further. The $3,385–3,390 zone is pivotal.
Trading Strategy:
• Sell 3,392–3,395
TP ~40/80/200 pips
SL ~3,397
• Buy 3,345–3,348
TP ~40/80/200 pips
SL ~3,342
Trade active
If gold holds above the $3372–3374 zone, it is likely to retest the previous high at $3384–3388, and may even head toward $3400 if there is no strong selling pressure.Trade closed: target reached
Gold is currently moving sideways around the $3,378 zone, indicating a lack of momentum — a clear breakout is needed to determine the next direction.
📊 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.
📊 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.