Gold Market Brief: Range Bound Trading Amid Geopolitical and Policy Games
I. Core Drivers
- Geopolitical Hedge Cooling: Iran's signal to restart nuclear talks has weakened risk aversion, triggering intraday gold pullbacks, though Middle East tensions remain a wild card.
- Fed Policy Expectations: The Fed kept rates unchanged this week, with Powell's "data-dependent" stance fueling 60% odds of a September rate cut. Dovish signals may push gold above $3,400, while hawkish cues could drag it to $3,350.
II. Key Technical Levels
Supports:
- $3,380: 4-hour MA30 + June 17 low ($3,375.5), bolstered by the ascending channel lower 轨 (lower trendline).
- $3,350: Daily MA10 + June 12 congestion zone, a psychological pivot for policy betting.
Resistances:
- $3,400: Intraday high + 4-hour MA10 + descending trendline forming "triple resistance".
- $3,450: June 13 high converging with weekly Fibonacci 61.8% retracement ($3,448).
III. Short-term Outlook & Focus Points
- Range-bound Trend: Gold likely to oscillate between $3,350-$3,450, with breakthroughs hinging on escalated geopolitics or stronger rate cut bets.
- Catalyst Events: Monitor June 19 Fed meeting, June 21 CPI data, and Middle East developments as potential range breakers.
XAU/USD Trading Strategy for Today
buy@3370-3380
tp:3395-3405
sell@3395-3405
tp:3385-3375
I am committed to sharing trading signals every day. Among them, real-time signals will be flexibly pushed according to market dynamics. All the signals sent out last week accurately matched the market trends, helping numerous traders achieve substantial profits. Regardless of your previous investment performance, I believe that with the support of my professional strategies and timely signals, I will surely be able to assist you in breaking through investment bottlenecks and achieving new breakthroughs in the trading field.
I. Core Drivers
- Geopolitical Hedge Cooling: Iran's signal to restart nuclear talks has weakened risk aversion, triggering intraday gold pullbacks, though Middle East tensions remain a wild card.
- Fed Policy Expectations: The Fed kept rates unchanged this week, with Powell's "data-dependent" stance fueling 60% odds of a September rate cut. Dovish signals may push gold above $3,400, while hawkish cues could drag it to $3,350.
II. Key Technical Levels
Supports:
- $3,380: 4-hour MA30 + June 17 low ($3,375.5), bolstered by the ascending channel lower 轨 (lower trendline).
- $3,350: Daily MA10 + June 12 congestion zone, a psychological pivot for policy betting.
Resistances:
- $3,400: Intraday high + 4-hour MA10 + descending trendline forming "triple resistance".
- $3,450: June 13 high converging with weekly Fibonacci 61.8% retracement ($3,448).
III. Short-term Outlook & Focus Points
- Range-bound Trend: Gold likely to oscillate between $3,350-$3,450, with breakthroughs hinging on escalated geopolitics or stronger rate cut bets.
- Catalyst Events: Monitor June 19 Fed meeting, June 21 CPI data, and Middle East developments as potential range breakers.
XAU/USD Trading Strategy for Today
buy@3370-3380
tp:3395-3405
sell@3395-3405
tp:3385-3375
I am committed to sharing trading signals every day. Among them, real-time signals will be flexibly pushed according to market dynamics. All the signals sent out last week accurately matched the market trends, helping numerous traders achieve substantial profits. Regardless of your previous investment performance, I believe that with the support of my professional strategies and timely signals, I will surely be able to assist you in breaking through investment bottlenecks and achieving new breakthroughs in the trading field.
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If you have any questions, please feel free to contact me.
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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.
We share various trading signals every day, with an accuracy rate of over 90%.
Fans who follow us can obtain high returns every day.
If you have any questions, please feel free to contact me.
t.me/+tI1juADoiflkM2U0
Fans who follow us can obtain high returns every day.
If you have any questions, please feel free to contact me.
t.me/+tI1juADoiflkM2U0
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.