XAUUSD: Gold Bounces Strongly from the Bottom – Is This the Start of a Breakout?
🌍 Macro Overview – Gold’s Movement and Market Sentiment
Gold recently experienced a strong bounce from the 3.282 USD/oz low, reaching 3.317 USD/oz. This movement has sparked some optimism, but let’s take a look at the key macroeconomic factors that might be influencing gold:
📉 US bond yields have decreased, signaling that market risk aversion is returning
💵 The USD remains strong, but buying interest in gold in Asia is increasing as confidence in fiat currencies begins to wane
🇪🇺 The EU is accelerating negotiations with the US on tariffs ahead of the August 1st deadline. If these talks fail, gold could benefit
🏦 The Fed continues to maintain interest rates, but the market is betting on a potential rate cut in September if inflation remains controlled
📊 US unemployment data and the Fed's speech tonight will be key, as the market is anxiously waiting for clues on the Fed’s next move
📊 Technical Analysis – Gold Approaching Key Resistance Levels
Gold is trading within a descending channel, but there are clear signs of a potential breakout after testing the lows.
Key resistance levels are found around 3330 – 3340, which will be crucial for determining if gold can continue its upward movement.
The Fair Value Gap (FVG) has appeared between 3310 – 3320, suggesting that if buying pressure continues, a breakout above these levels is likely.
🎯 Trading Strategy for Today – Focused on Clear Entry Points
🟢 BUY SCALP:
Entry: 3310 – 3308
SL: 3304
TP: 3314 → 3318 → 3322 → 3326 → 3330
🔵 BUY ZONE (safer entry points):
Entry: 3290 – 3288
SL: 3284
TP: 3294 → 3298 → 3302 → 3306 → 3310 → 3320 → 3330
🔴 SELL SCALP (if price hits resistance levels):
Entry: 3335 – 3337
SL: 3342
TP: 3330 → 3325 → 3320 → 3315 → 3310 → 3300
⚫ SELL ZONE (strong resistance at 3360-3362):
Entry: 3360 – 3362
SL: 3366
TP: 3356 → 3352 → 3348 → 3344 → 3340 → 3336 → 3330
📌 Note:
Always set SL and TP appropriately to protect your account, especially in a market that might experience significant volatility today.
Watch volume during London and New York sessions to gain clearer insights into market direction. If gold breaks above resistance, a strong breakout could follow.
💬 Gold has bounced back strongly, but is this the start of a larger rally, or just a temporary correction? What’s your take on today’s trend? Share your thoughts in the comments below!
🌍 Macro Overview – Gold’s Movement and Market Sentiment
Gold recently experienced a strong bounce from the 3.282 USD/oz low, reaching 3.317 USD/oz. This movement has sparked some optimism, but let’s take a look at the key macroeconomic factors that might be influencing gold:
📉 US bond yields have decreased, signaling that market risk aversion is returning
💵 The USD remains strong, but buying interest in gold in Asia is increasing as confidence in fiat currencies begins to wane
🇪🇺 The EU is accelerating negotiations with the US on tariffs ahead of the August 1st deadline. If these talks fail, gold could benefit
🏦 The Fed continues to maintain interest rates, but the market is betting on a potential rate cut in September if inflation remains controlled
📊 US unemployment data and the Fed's speech tonight will be key, as the market is anxiously waiting for clues on the Fed’s next move
📊 Technical Analysis – Gold Approaching Key Resistance Levels
Gold is trading within a descending channel, but there are clear signs of a potential breakout after testing the lows.
Key resistance levels are found around 3330 – 3340, which will be crucial for determining if gold can continue its upward movement.
The Fair Value Gap (FVG) has appeared between 3310 – 3320, suggesting that if buying pressure continues, a breakout above these levels is likely.
🎯 Trading Strategy for Today – Focused on Clear Entry Points
🟢 BUY SCALP:
Entry: 3310 – 3308
SL: 3304
TP: 3314 → 3318 → 3322 → 3326 → 3330
🔵 BUY ZONE (safer entry points):
Entry: 3290 – 3288
SL: 3284
TP: 3294 → 3298 → 3302 → 3306 → 3310 → 3320 → 3330
🔴 SELL SCALP (if price hits resistance levels):
Entry: 3335 – 3337
SL: 3342
TP: 3330 → 3325 → 3320 → 3315 → 3310 → 3300
⚫ SELL ZONE (strong resistance at 3360-3362):
Entry: 3360 – 3362
SL: 3366
TP: 3356 → 3352 → 3348 → 3344 → 3340 → 3336 → 3330
📌 Note:
Always set SL and TP appropriately to protect your account, especially in a market that might experience significant volatility today.
Watch volume during London and New York sessions to gain clearer insights into market direction. If gold breaks above resistance, a strong breakout could follow.
💬 Gold has bounced back strongly, but is this the start of a larger rally, or just a temporary correction? What’s your take on today’s trend? Share your thoughts in the comments below!
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
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.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
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.