📊 Market Overview:
Gold is facing mild downward pressure after July’s US PPI rose 3.3% YoY, stronger than expected, reducing optimism for an aggressive 50 bps Fed rate cut next meeting. Safe-haven demand remains supported by geopolitical risks ahead of the Trump–Putin meeting, but Fed caution is capping further upside.
📉 Technical Analysis:
• Key Resistance: ~$3,370 (near-term), ~$3,400 (major)
• Nearest Support: ~$3,345 (near-term), ~$3,330–$3,340 (major)
• EMA 09: Price is currently below EMA 09, indicating a mild short-term bearish bias.
• Candlestick / Volume / Momentum: Current structure shows a mild retracement with steady volume; momentum softens as hot inflation data limits upside potential.
📌 Outlook:
Gold may continue easing in the short term if US economic data remains strong. A rebound above resistance could occur if rate-cut expectations revive or geopolitical tensions escalate.
________________________________________
💡 Trade Strategy Suggestion:
🔻 SELL XAU/USD: $3,369–$3,372
🎯 TP: 40/80/200 pips
❌ SL: ~$3,375
🔺 BUY XAU/USD : $3,330–$3,333
🎯 TP: 40/80/200 pips
❌ SL: ~$3,327
Gold is facing mild downward pressure after July’s US PPI rose 3.3% YoY, stronger than expected, reducing optimism for an aggressive 50 bps Fed rate cut next meeting. Safe-haven demand remains supported by geopolitical risks ahead of the Trump–Putin meeting, but Fed caution is capping further upside.
📉 Technical Analysis:
• Key Resistance: ~$3,370 (near-term), ~$3,400 (major)
• Nearest Support: ~$3,345 (near-term), ~$3,330–$3,340 (major)
• EMA 09: Price is currently below EMA 09, indicating a mild short-term bearish bias.
• Candlestick / Volume / Momentum: Current structure shows a mild retracement with steady volume; momentum softens as hot inflation data limits upside potential.
📌 Outlook:
Gold may continue easing in the short term if US economic data remains strong. A rebound above resistance could occur if rate-cut expectations revive or geopolitical tensions escalate.
________________________________________
💡 Trade Strategy Suggestion:
🔻 SELL XAU/USD: $3,369–$3,372
🎯 TP: 40/80/200 pips
❌ SL: ~$3,375
🔺 BUY XAU/USD : $3,330–$3,333
🎯 TP: 40/80/200 pips
❌ SL: ~$3,327
Trade active
Gold is moving sideways between 3338–3348.Buy if it breaks above 3348
Sell if it breaks below 3338
Avoid trading in the middle of the range to reduce risk.
Trade closed: target reached
If today’s Retail Sales data is strong, gold may drop to 3330 and further to 3320 if the figures far exceed expectations.
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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.