📊 Technical Analysis
● XAUUSD is forming a bearish descending wedge within a broader symmetrical triangle, facing rejection at 3,310 near prior support-turned-resistance.
● Repeated failure to hold above trendlines and continued lower highs favor a drop toward the 3,246.56 level, with possible overshoot if support breaks.
💡 Fundamental Analysis
● Rising real yields and hawkish Fed tone continue to pressure gold; ISM Manufacturing Prices and NFP loom as next volatility catalysts.
● Reduced ETF inflows and strong dollar on resilient US macro data weigh on demand for non-yielding assets.
✨ Summary
Short bias below 3,310. Breakdown eyes 3,246 → 3,200 zone. Resistance holds while trendline caps recovery.
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● XAUUSD is forming a bearish descending wedge within a broader symmetrical triangle, facing rejection at 3,310 near prior support-turned-resistance.
● Repeated failure to hold above trendlines and continued lower highs favor a drop toward the 3,246.56 level, with possible overshoot if support breaks.
💡 Fundamental Analysis
● Rising real yields and hawkish Fed tone continue to pressure gold; ISM Manufacturing Prices and NFP loom as next volatility catalysts.
● Reduced ETF inflows and strong dollar on resilient US macro data weigh on demand for non-yielding assets.
✨ Summary
Short bias below 3,310. Breakdown eyes 3,246 → 3,200 zone. Resistance holds while trendline caps recovery.
-------------------
Share your opinion in the comments and support the idea with a like. Thanks for your support!
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📊 Technical Analysis
● XAUUSD remains capped below the long-term resistance line, with a triple-top pattern forming beneath 3,355 and successive lower highs validating the bearish outlook.
● Price has broken below the shaded support zone and rising channel, targeting the 3,262.3 level, with potential extension toward 3,209.
💡 Fundamental Analysis
● US yield curve steepening after Fitch’s downgrade and strong wage inflation has bolstered the dollar, pressuring gold further.
● ETF outflows and subdued central bank purchases continue to weaken physical demand amid resilient US data.
✨ Summary
Short setup valid below 3,310. Breakdown targets 3,262 ➜ 3,209. Bearish trend holds under major resistance.
-------------------
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🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
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.
90% accuracy in telegram
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
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.