The gold scenario is becoming clearer: price is holding firmly at the key support zone around 3,300.900 and is gearing up to react to a series of “bombshell” U.S. data releases – including GDP and the Fed’s preferred inflation gauge, Core PCE. These two indicators are critical in shaping future Fed policy.
From a technical standpoint, buyers have halted the decline at a previous Fair Value Gap (FVG) – a zone that previously supported a bullish breakout. The recent rebound from this area opens up a potential move towards 3,368.700, where a new FVG exists and coincides with a long-term descending trendline. This is not only a technical target, but also a testing ground to assess whether the market has enough momentum to reverse the broader downtrend.
However, one must also acknowledge the risk: if upcoming U.S. data reinforces the Fed’s hawkish stance, gold is likely to face rejection at the trendline – and could once again slip below the 3,300 zone.
From a technical standpoint, buyers have halted the decline at a previous Fair Value Gap (FVG) – a zone that previously supported a bullish breakout. The recent rebound from this area opens up a potential move towards 3,368.700, where a new FVG exists and coincides with a long-term descending trendline. This is not only a technical target, but also a testing ground to assess whether the market has enough momentum to reverse the broader downtrend.
However, one must also acknowledge the risk: if upcoming U.S. data reinforces the Fed’s hawkish stance, gold is likely to face rejection at the trendline – and could once again slip below the 3,300 zone.
Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.
Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.