Gold (XAUUSD) has broken below the ascending trendline and is currently trading under the 200 EMA—confirming a shift in short-term momentum. A clean bearish rejection was observed on the retest.
* Breakout from rising wedge pattern
* 200 EMA acting as dynamic resistance
* MACD histogram showing increased bearish pressure
* Resistance: 3,360
* Support: 3,247 – 3,245
Risk-to-reward setup is favorable for a short trade.
Gold remains under pressure due to a stronger U.S. dollar and higher bond yields. The latest economic data (GDP and durable goods orders) reinforced expectations that the Federal Reserve will keep interest rates elevated, reducing demand for gold.
* USD strength supported by robust macro data
* Real yields remain high, weighing on gold
* Central bank demand subdued
* No significant geopolitical risk to drive haven flows this week
Market sentiment is bearish unless we see a dovish shift from the Fed or surprise risk events.
🎯 **Trade Setup**
* Sell Entry: 3,314
* Stop Loss: 3,360
* Take Profit: 3,247
* Risk\:Reward: \~1:2
📌 **Bias:** Bearish (Short-Term)
Price action remains weak below the 200 EMA and key structure. Expect continuation to the downside toward 3,247 support.
* Breakout from rising wedge pattern
* 200 EMA acting as dynamic resistance
* MACD histogram showing increased bearish pressure
* Resistance: 3,360
* Support: 3,247 – 3,245
Risk-to-reward setup is favorable for a short trade.
Gold remains under pressure due to a stronger U.S. dollar and higher bond yields. The latest economic data (GDP and durable goods orders) reinforced expectations that the Federal Reserve will keep interest rates elevated, reducing demand for gold.
* USD strength supported by robust macro data
* Real yields remain high, weighing on gold
* Central bank demand subdued
* No significant geopolitical risk to drive haven flows this week
Market sentiment is bearish unless we see a dovish shift from the Fed or surprise risk events.
🎯 **Trade Setup**
* Sell Entry: 3,314
* Stop Loss: 3,360
* Take Profit: 3,247
* Risk\:Reward: \~1:2
📌 **Bias:** Bearish (Short-Term)
Price action remains weak below the 200 EMA and key structure. Expect continuation to the downside toward 3,247 support.
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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.