Gold Drops After Failing to Hold Above $3322📊 Market Overview:
Gold initially surged above the $3322 resistance, hitting $3329 amid Fed pause expectations. However, a rebound in the US dollar and profit-taking triggered a sharp drop back to $3315, signaling weakening bullish momentum.
📉 Technical Analysis:
• Key resistance: $3322 – $3330
• Nearest support: $3308 – $3300
• EMA09 (H1): Price has fallen below EMA09 → turning short-term trend bearish
• Candlestick / Volume / Momentum:
• Failed breakout above $3322 with strong bearish H1 reversal
• Increasing volume during the drop → rising selling pressure
📌 Outlook:
Gold may continue declining in the short term if it fails to hold above $3312. Bears have taken control after the failed breakout attempt. Risk increases for a move toward $3300–$3295.
💡 Suggested Trade Setup:
🔻 SELL XAU/USD : $3318 – $3321
🎯 TP: 40/80/200 pips
❌ SL: $3325
🔺 BUY XAU/USD: $3295 – $3292 (only with clear bullish signal)
🎯 TP: 40/80/200 pips
❌ SL: $3288
