Gold Pares Gains as USD Strengthens on Trade Deal Ahead of Fed
Gold gave up early gains, pressured by a stronger U.S. dollar after the announcement of the US–EU trade agreement.
Meanwhile, attention shifts to upcoming U.S.–China negotiations later today, as both sides aim to extend the current trade truce and avoid new tariffs.
Investors are also closely watching the Federal Reserve’s policy decision on Wednesday, seeking signals on future interest rate moves.
TECHNICAL OUTLOOK:
Gold maintains a bearish trend while trading below 3349, with potential downside toward 3320.
A 1H candle close below 3320 – 3312 would confirm extended bearish pressure targeting 3285, driven in part by ongoing geopolitical risks.
⚠️ To shift back to a bullish structure, the price must stabilize above 3349.
Key Levels:
• Support: 3320 – 3285 – 3256
• Resistance: 3365 – 3375
Trade active
GOLD UPDATEGold dropped exactly as expected—around $35, reaching our target zone.
Today, the outlook shows bullish momentum as long as the price trades above 3320, with upside potential toward 3349.
If the price fails to break above 3349, a pullback is likely to follow.
⚠️ A confirmed break below 3310 would shift the momentum back to bearish, targeting 3284.
Key Levels:
• Pivot Line: 3320
• Resistance: 3337 – 3349
• Support: 3301 – 3284
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.