📊 Market Overview:
Gold rose modestly as the U.S. dollar weakened following softer-than-expected July CPI data, increasing the likelihood of a Federal Reserve rate cut in September. Geopolitical tensions surrounding the Trump–Putin meeting and ongoing trade war developments further supported demand for safe-haven assets like gold.
📉 Technical Analysis:
• Key Resistance: $3,360–$3,361 (near EMA50 area), $3,375–$3,380 (major resistance zone, 0.618 Fibonacci & option barrier)
• Nearest Support: $3,350–$3,351 (break below may lead to downside at $3,325), additional supports at $3,336, $3,324, $3,313
• EMA: Short-term trend neutral, slight bearish bias near resistance
• Candlestick / Volume / Momentum: RSI on H1 around 45–50 (neutral), volume declining, possible upcoming breakout
📌 Outlook:
Gold may continue to edge higher in the near term if it breaks resistance at $3,361 with strong volume and the USD remains weak. Otherwise, failure to surpass $3,375–$3,380 could lead to pullback toward support at $3,350 or further down to $3,330–$3,325.
________________________________________
💡 Suggested Trading Strategy:
🔺 BUY XAU/USD
Entry: 3,320 – 3,323
🎯 TP: 40/80/200 pips
❌ SL: 3,317
🔻 SELL XAU/USD
Entry: 3,375–3,378
🎯 TP: 40/80/200 pips
❌ SL: 3,381
Gold rose modestly as the U.S. dollar weakened following softer-than-expected July CPI data, increasing the likelihood of a Federal Reserve rate cut in September. Geopolitical tensions surrounding the Trump–Putin meeting and ongoing trade war developments further supported demand for safe-haven assets like gold.
📉 Technical Analysis:
• Key Resistance: $3,360–$3,361 (near EMA50 area), $3,375–$3,380 (major resistance zone, 0.618 Fibonacci & option barrier)
• Nearest Support: $3,350–$3,351 (break below may lead to downside at $3,325), additional supports at $3,336, $3,324, $3,313
• EMA: Short-term trend neutral, slight bearish bias near resistance
• Candlestick / Volume / Momentum: RSI on H1 around 45–50 (neutral), volume declining, possible upcoming breakout
📌 Outlook:
Gold may continue to edge higher in the near term if it breaks resistance at $3,361 with strong volume and the USD remains weak. Otherwise, failure to surpass $3,375–$3,380 could lead to pullback toward support at $3,350 or further down to $3,330–$3,325.
________________________________________
💡 Suggested Trading Strategy:
🔺 BUY XAU/USD
Entry: 3,320 – 3,323
🎯 TP: 40/80/200 pips
❌ SL: 3,317
🔻 SELL XAU/USD
Entry: 3,375–3,378
🎯 TP: 40/80/200 pips
❌ SL: 3,381
Trade active
The short-term trend leans toward a corrective decline, unless the price quickly rebounds and closes the H1 candle above $3,365.Trade closed: target reached
Gold is leaning toward a short-term corrective decline; SELL around $3,365–$3,370, BUY around $3,342–$3,348 if reversal signals appear.
📊 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.
📊 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.