📊 Market Overview
After failing to break the 3,389 resistance zone this morning, gold remains under pressure from profit-taking and a stronger USD. The price has dropped to around $3,360/oz, reflecting defensive sentiment amid ongoing geopolitical tensions in the Middle East.
📉 Technical Analysis
• Key Resistance: 3,389 – 3,400
• Nearest Support: 3,345 – 3,324
• EMA-09: Price is below the EMA-09 on the H1 chart → short-term bearish trend
• Candle Patterns / Volume / Momentum:
o M15 & H1 candles remain bearish
o RSI hovers around 45 → indicating continued correction
o No clear reversal signals yet
📌 Outlook
Gold may continue to decline slightly in the short term if the USD stays strong and no geopolitical surprises arise. However, the 3345 support zone could attract dip buyers.
________________________________________
💡 Suggested Trading Strategy
🔻 SELL XAU/USD at: 3,360 – 3,365
🎯 TP: 3,335 – 3,325
❌ SL: 3,372
🔺 BUY XAU/USD at: 3,320 – 3,324
🎯 TP: 3,340 – 3,344
❌ SL: 3,310
After failing to break the 3,389 resistance zone this morning, gold remains under pressure from profit-taking and a stronger USD. The price has dropped to around $3,360/oz, reflecting defensive sentiment amid ongoing geopolitical tensions in the Middle East.
📉 Technical Analysis
• Key Resistance: 3,389 – 3,400
• Nearest Support: 3,345 – 3,324
• EMA-09: Price is below the EMA-09 on the H1 chart → short-term bearish trend
• Candle Patterns / Volume / Momentum:
o M15 & H1 candles remain bearish
o RSI hovers around 45 → indicating continued correction
o No clear reversal signals yet
📌 Outlook
Gold may continue to decline slightly in the short term if the USD stays strong and no geopolitical surprises arise. However, the 3345 support zone could attract dip buyers.
________________________________________
💡 Suggested Trading Strategy
🔻 SELL XAU/USD at: 3,360 – 3,365
🎯 TP: 3,335 – 3,325
❌ SL: 3,372
🔺 BUY XAU/USD at: 3,320 – 3,324
🎯 TP: 3,340 – 3,344
❌ SL: 3,310
Trade active
Short‑term Gold Trend: Bullish Bias as USD Strengthens
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Disclaimer
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📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
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.