gold manage to cover the mthly gapgold made a strong push up last week.
but friday made a uturn to the opening price again.
this could only be possible that gold a waiting for the daily trend line to touch again before heading up again
GOLD trade ideas
XAUUSD BREAKOUT RETESTRetesting trendline in this early week, holding this trade for a week. Just my thought for this week.
Gold price recovers, accumulates new week⭐️GOLDEN INFORMATION:
Gold prices (XAU/USD) hold steady near $3,310 during the early Asian trading hours on Monday, with the precious metal struggling to gain traction amid renewed strength in the US Dollar (USD). While a firmer Greenback poses headwinds for gold, lingering uncertainty surrounding President Donald Trump’s tariff strategy continues to offer some support.
On Friday, upbeat labor market data bolstered the dollar, pressuring dollar-denominated assets like gold. The US Bureau of Labor Statistics (BLS) reported that Nonfarm Payrolls rose by 139,000 in May, outpacing expectations of 130,000 and surpassing the previous month's downwardly revised figure of 147,000 (from 177,000). The stronger-than-expected jobs report has dampened hopes of near-term Fed rate cuts, weighing on bullion’s appeal.
⭐️Personal comments NOVA:
Gold price takes liquidity 3294, below 3300 GAP zone last week. Accumulate and react at lower support zones
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone : 3348- 3350 SL 3355
TP1: $3340
TP2: $3330
TP3: $3320
🔥BUY GOLD zone: $3281- $3279 SL $3274
TP1: $3292
TP2: $3300
TP3: $3315
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable sell order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
gold retesting new max soonmy short term vision for this asset is buy. No rumors or signal for bear market
Gold Market Analysis: Short-Term Weakness, Long-Term OptimismAfter a significant drop on Friday, gold prices hit a low of **$3316** in the US market, indicating that the current market correction is likely to continue into next week.
### Current Market Dynamics
The short-term outlook for gold appears weaker, with the 4-hour cycle showing a decline and the daily cycle facing upward pressure. Despite this, the overall market remains within a broad trading range, mirroring the patterns observed in May.
The recent fall below the **$3330** support level is a key indicator. This point acted as a pivot between bullish and bearish sentiment, and its breach suggests that the short-term market has entered a period of weakness and volatility. However, the market hasn't fully shifted into a bearish trend. We can expect a continued downward fluctuation, but the extent of this drop should be limited, making a sharp decline unlikely.
### Trading Strategy for the Coming Week
Given these dynamics, a "short-term selling and long-term buying" strategy is recommended.
* **Short-term operations** may involve selling, but this should be approached cautiously.
* From a broader perspective, **buying remains the primary strategy**.
Looking ahead to next week, we anticipate the market will fluctuate and find a bottom around **$3300**. Once this support level stabilizes, a new upward trend is expected to begin.
**Key price levels to watch:**
* **Short-term resistance:** $3340
* **Lower support:** $3300
Flexibility in your trading arrangements will be crucial to capitalize on upcoming market opportunities.
GOLD ROUTE MAP UPDATEHey Everyone,
A great finish to the week with our 1H chart idea finishing off with the rejection from 3389 with no further cross and lock above that level confirming the rejection. We continued to see a drop into the lower Goldturns with each level giving 20 to 40 pip bounces.,
We are now seeing 3334 Goldturn being tested. Lets see if we get the 20 to 40 pip reactional bounce before close of play.
We’ll be back now on Sunday with our multi-timeframe analysis and trading plans for the week ahead. Thanks again for all your likes, comments, and follows.
Wishing you all a fantastic weekend!!
MR GOLD
XAUUSD - $3,260 Support Level to Determine Next Directional MoveLooking at this Gold 4-hour chart, the precious metal is approaching a critical inflection point as it tests the key support zone around $3,260, which represents a confluence of previous swing lows and represents the lower boundary of the recent consolidation range. Two distinct scenarios emerge from this technical setup: first, gold could find buyers at this support level and stage a bounce back toward the $3,400 resistance area, particularly if broader market conditions favor safe-haven assets or if dollar weakness provides additional tailwinds for the metal. Alternatively, a decisive break below the $3,260 support could trigger further selling pressure and open the door for a deeper correction toward the $3,180-$3,160 zone, especially if risk appetite improves or if stronger economic data reduces demand for defensive assets. The outcome will largely depend on how price action unfolds at this crucial support level, with volume and momentum providing key clues about which scenario is more likely to play out in the near term.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Gold will make impulse up from support line of triangle to 3430Hello traders, I want share with you my opinion about Gold. Some days ago, price entered to triangle, where it made an upward impulse at once to the resistance line, breaking the resistance level. But then price turned around and in a short time declined back, breaking the resistance level one more time. Next, Gold continued to fall and reached the support line of the triangle. After this, it made an impulse up again and exited from the triangle pattern with broke the 3280 level. Price rose to the resistance level and then started to trade inside another triangle pattern. In this pattern, Gold dropped from the 3430 resistance level, which coincided with the resistance line, and dropped to the support line, breaking the 3280 level. After this movement, Gold turned around and started to grow, and later reached the 3280 level and broke it again. Then the price continued to grow and reached the resistance line of the triangle pattern, where at the moment continues to trades near. In my opinion, Gold can rebound from the support line of the triangle and rise to the resistance level, exiting from triangle pattern. For this case, my TP is 3430 level. Please share this idea with your friends and click Boost 🚀
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
GOLD (XAUUSD): Important Supports & Resistances for Next Week
Here is my latest structure analysis for Gold.
Vertical Structures
Vertical Support 1: Falling trend line
Vertical Support 2: Falling trend line
Horizontal Structures
Horizontal Support 1: 3231 - 3286 area
Horizontal Support 2: 3121 - 3177 area
Horizontal Resistance 1: 3372 - 3404 area
Horizontal Resistance 2: 3427 - 3423 area
Horizontal Resistance 3: 3492 - 3500 area
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
XAU/USD H8 AnalysisThe price of Gold against the US Dollar is bullish on the bigger time frame.
Diving into the 8 hour chart, we see that price was correcting in the form of a triangle with a breakout in the early part of this month.
With price retesting the top of the triangle, we may see a rejection and further move to the upside. Watch out for a false break though.
This is an idea of what may happen.
Always trade with a tested and profitable strategy. Use alongside good risk management.
Gold Update – The Reversal Is Still in PlayYesterday’s price action confirmed what we’ve been discussing in recent updates: the upside is vulnerable, and the real move could be lower.
Gold did push toward the 3400 zone, as expected — but that test was short-lived. Sellers stepped in aggressively, and price dropped back toward the 3350 support zone, closing the day with a bearish engulfing candle on the daily chart.
Will we have a new leg down?
That’s the big question now. While bulls are hoping for continuation, the current rebound is weak and seems to be shaping into a bear flag.
Why I Expect More Downside:
- Strong rejection from 3400 key level
- Daily chart printed a bearish engulfing
- Rebound structure looks corrective, not impulsive
Trading Plan:
I continue to look for selling opportunities on spikes, especially near resistance levels like 3375–3385.
If the 3340-3350 zone falls, I expect down acceleration and a drop even to 3200 zone.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Gold execution psychology - why do your trades fail on XAUUSD?🎯 You Knew the Zone but the trade failed.
Execution psychology for Gold traders who are tired of guessing.
You marked the zone.
You waited for price to tap into it.
Maybe you even caught a reaction — but the trade failed anyway.
Not because the zone was wrong.
Because the execution broke down.
🧠 1. The Problem Isn’t the Zone. It’s the Trader.
There are two valid entry styles:
🔹 Bounce Entry
→ Enter on first touch of the zone
→ Works best when:
• Structure supports your bias
• Liquidity has been swept
• You're using a refined zone (OB, FVG, confluence)
→ SL must sit outside the zone — not inside it
→ Fast entries, fast rejections — but high responsibility, not for beginners.
🔹 Confirmation Entry
→ Wait for CHoCH or BOS on M5/M15
→ Enter on the retest
→ Cleaner invalidation, but slower execution
→ Less drawdown, but requires patience
⚔ 2. Your Stop Loss Was a Suggestion, Not a Standard
Gold isn’t EURUSD.
This pair moves 100–300 pips in minutes — and it will wipe out shallow SLs for fun.
Your SL must sit:
• Below the OB (not inside it)
• Outside the liquidity sweep
• Beyond the structural invalidation point
💰 Lot Size Must Match Your SL — Not Your Ego
We don’t increase lot size because we hope it will go perfect.
We always trade small — because Gold doesn’t need size to give payout.
The wider the SL, the smaller the lot.
That’s how you control risk and let price move.
We don’t chase leverage.
We prioritize precision, patience, and profit.
📉 3. After One Loss, You Lost the Plot
One trade didn’t go your way — now you’re flipping bias, skipping rules, and forcing setups.
That’s not trading. That’s emotional spending.
Real traders analyze the loss.
They re-read the setup.
They take the next trade — only if structure allows, even skip trading to the next day.
✅ So How Do You Fix It?
1. Define your entry style
2. Keep lot size small — even with 100 pip stops
3. Move SL to BE when appropriate
4. Walk away after 2 losses.
Accept that one good trade is better than 5 emotional entries, clear mind -cleaner executions.
If this lesson helped you today and brought you more clarity:
Drop a 🚀 and follow us for more published ideas.
THE KOG REPORT - UpdateEnd of day update from us here at KOG:
It's been a decent week on the markets with our path and red boxes playing well from the low to the high for the pull back trade into the region we wanted and then the long completing all but one Red box target which was missed by 20pips.
With NFP tomorrow we would say caution on the markets as we can expect some pre-event ranging and MA play until the release tomorrow. For that reason, we have given the two levels of interest that we feel price will play until tomorrow's release. For now, we're not getting involved in gold until after the NFP move.
As always, trade safe.
KOG’s Bias of the day:
Bullish above 3335 with targets above 3366✅. 3373✅ and above that 3390✅
Bearish on break of 3335 with target below 3320 and below that 3210
RED BOXES:
Break above 3365 for 3372✅, 3375✅, 3388✅ and 3406 in extension of the move
Break below 3350 for 3335, 3330, 3326 and 3307 in extension of the move
XAUUSD Expecting Bullish movementKey Elements & Analysis
1 Previous Price Action
Descending Channel: Highlighted in dark blue indicating a strong bearish trend leading into the present
Previous Ascending Channel A prior short-term bullish correction flag formation before continuing the downtrend
2 Support Zone
A red rectangular zone at the bottom marks a strong support level where price recently bounced suggesting possible demand
3 Projected Price Movement Yellow Path
A W-shaped bullish reversal pattern is forecasted indicating a potential recovery
The movement is expected in 3 phases
Initial bounce from the support zone
Minor pullback
Continuation of the uptrend to the target zone
4 Target Levels
Level Initial Resistance 3326
Level Next Resistance 3345
Main Target 3362 marked in green with a label representing the anticipated bullish target
XAUUSD: Analysis June 12XAUUSD is trading within a short-term rising channel.
The market structure remains slightly bullish, with continuous corrections to support zones and then rebounds.
The RSI and MACD indicators have not entered the overbought zone, indicating that there is still room for growth if important support zones are held.
Buy Zone:
1. 3346 – 3350: If the price does not go deep, this is the "retest MA/trendline" zone in the uptrend channel. You can Buy when there is a clear price reaction in this zone.
2. 3330 – 3325: This is a very clear H1 technical support zone. Price may retrace here before bouncing back.
Sell Zone:
3385 - 3390: This is a strong resistance zone on the H1 chart, coinciding with the “Order Block” zone of the sellers. The price may touch and react strongly if there is no breakout momentum.
XAU/USD 4H Updated Technical Analysis 06/12/20254H Market Structure & Trend
Gold (XAU/USD) is trading around $3,383, showing a generally bullish market structure on the 4-hour chart. The price has been making higher highs (HH) and higher lows (HL) – a classic uptrend pattern
Recently, bulls broke above a notable resistance level (a Break of Structure, or BOS), confirming continued upside momentum
So far no Change of Character (CHOCH) signal (which would require a lower low to hint at a trend reversal, meaning the uptrend remains intact. Gold is also trading above its daily pivot point (3370), reflecting a bullish intraday bias
Overall, sentiment on the 4H timeframe is positive unless key support levels give way.
Key Support & Resistance Zones (Demand vs. Supply)
Support (Demand Zones): Immediate support lies in the 3355 – 3340 region (marked by S1 and S2). This zone lines up with prior price congestion and is viewed as a demand zone, where buyers have historically stepped in
In fact, multiple support levels cluster here (e.g. previous lows and trendline intersection), creating a broad buy zone. The idea is that as price dips into this area, buy orders are likely waiting, and the deeper it goes into the zone, the more attractive it becomes for bulls
If 3340 fails, the next support is around 3325 (S3), another potential demand area where gold found a footing earlier. Traders will watch these support zones for bullish reversal signals (like a strong bounce or candlestick patterns) to confirm that demand is indeed active. Resistance (Supply Zones): On the upside, initial resistance is seen at 3385 (R1), with a stronger supply zone around 3400 (roughly the R2 3402 level). Here, multiple technical levels overlap – including a recent swing high and a psychological round number. This convergence of resistances creates a supply zone where sellers may be waiting.
As gold approaches 3385–3402, it’s likely to encounter profit-taking or new short positions. If price does punch through 3400, the next resistance is around 3415 (R3), which could attract even more selling interest. Within the 3385–3415 zone, expect price to possibly stall or reverse, unless bulls muster a strong breakout. Traders should be cautious about bullish positions as price nears this supply area, and watch for any bearish reversal clues (like wicks or a double-top) indicating that sellers are active
Fibonacci Retracement Confluence
Recent price swings show Fibonacci retracement levels aligning with the above zones, adding confidence to those areas. For instance, the rally from the last 4H swing low (around 3325) up to the recent high (~3385) has a 50%–61.8% Fibonacci retracement roughly in the 3340–3355 range. Fibonacci levels often pinpoint where price might stall or reverse during a pullback, and indeed this $3,340-$3,355 support zone corresponds to the popular 50%–61.8% retracement band – a prime spot where bargain-hunting buyers could step in.
In an uptrend, a pullback to these Fib levels is considered a healthy correction rather than a trend change. Thus, if gold dips to that area, many bulls will be watching for a bounce. On the flip side, if gold extends higher, Fibonacci extension levels suggest the 3400+ region might be a measured move target (for example, 100% extension of the last pullback lands near 3400). This reinforces that the 3385–3415 supply zone is a critical hurdle. In summary, Fibonacci analysis supports the idea that mid-$3300s is a value zone for buyers, while around $3400 is a potential exhaustion area for the current upswing.
Smart Money Concepts (SMC) Insights
From a Smart Money Concepts perspective, institutional footprints are visible on the chart. The ongoing bullish structure (higher lows, no lower low yet) means no CHOCH (trend change) has occurred
Smart money likely continues to favor longs until a key low breaks. We can identify a possible bullish Order Block in the 3340 area, which is essentially the last small bearish candle on 4H before the strong push up
This order block (an institutional buy zone) overlaps with our demand zone, suggesting big players placed buy orders around 3340. If price revisits that zone, it could ignite another rally as those orders get filled. There are also liquidity considerations in play: Above $3,400, there may be clusters of buy stop orders (from breakout traders or short stops) – what SMC traders call buy-side liquidity.
It wouldn’t be surprising to see gold spike above 3400 to grab that liquidity (stop-loss hunt) before either accelerating higher or sharply reversing. Conversely, below $3,340, many bulls likely have stop-losses (sell orders) – sell-side liquidity resting under support.
A quick dip under S2 (liquidity grab) followed by a recovery would actually be a bullish signature (a bear trap by smart money). However, if price breaks significantly below 3325 and holds, that would mark a bearish CHOCH (first real trend change signal) and indicate the smart money possibly switching to selling rallies. Until then, the path of least resistance is still up. Any fair value gaps (imbalances) left from the rapid rise may exist around 3360 (for example), but so far gold has been backfilling these moves, keeping the trend steady.
Potential Trading Setups (4H Outlook)
Given the above analysis, here are two possible trade ideas on the 4H timeframe – one bullish and one bearish – with high-conviction zones in focus:
Bullish Buy Setup (Buy the Dip):
A pullback into the 3355–3340 support demand zone could offer a buying opportunity. This area has multiple factors of confluence: pivot S1/S2 supports, a Fibonacci 50–61.8% retracement, and an order block. If gold’s price action shows a clear reversal here (for example, a bullish engulfing candle or double bottom on 1H/4H), buyers can consider going long. The upside targets would be a return to 3385 (R1), with stretch targets near 3400–3415 (R2/R3). A prudent stop-loss could be placed just below 3325 (just under S3 and below the demand zone) to avoid a deeper reversal. This setup aligns with the prevailing uptrend (trading with the trend) and aims to “buy low” in the value zone.
Bearish Sell Setup (Sell the Rally):
If gold surges into the 3385–3402 resistance supply zone without slowing, traders should watch for signs of buyer exhaustion. In a still-range-bound market or if momentum wanes near the top, one might consider a short position in this zone if bearish signals emerge (e.g. a 4H shooting star candle, bearish divergence, or a minor BOS downward on lower timeframe). The idea is that smart money could use the liquidity above 3385/3400 to sell into. Initial downside targets could be the pivot area around 3370 and then the 3355 support. A stop-loss would ideally be just above 3415 (clear of the R3 level), in case gold breaks out to new highs. This counter-trend style trade is riskier since the 4H trend is up, so it’s crucial to wait for confirmation of a reversal before selling. Essentially, you’d be selling high at known resistance, but only if the market shows it can’t push further.
Both setups hinge on patience and confirmation. Rather than blindly picking tops or bottoms, let the price action confirm that the zone is holding. Remember that support and resistance levels are zones, not exact lines – price can wick through slightly before reversing. Always manage risk carefully.
Key Levels Snapshot
Pivot: 3370
R1: 3385 – R2: 3402 – R3: 3415
S1: 3355 – S2: 3340 – S3: 3325 These levels are derived from the classic pivot point formul, using recent price data. The pivot point at 3370 is the average of the previous session’s high, low, and close.
Trading above this pivot supports a bullish bias, while below it turns the bias bearish.
The R1/R2/R3 levels mark successive resistance hurdles above the pivot, and S1/S2/S3 mark support floors below it. Traders often use these as guideposts for intraday moves.
Takeaway:
Gold’s 4H chart shows bullish momentum with key support in the mid-$3300s and resistance near $3400. It’s wise to trade the reaction at these zones – buy dips near support in an uptrend, or sell rallies at resistance if momentum fades. In all cases, wait for price to confirm direction and stick to your trading plan. Happy trading!
THE KOG REPORT - NFPQuick one today as we haven't had much time to put together the report.
Instead, the red box levels are shared below and the extreme red boxes are on the chart.
We have key level 3365 which needs to break as shown and key level 3345 which needs to break downside.
RED BOX TARGETS
Break above 3365 for 3366, 337, 3385, 3390, 3406 and 3420 in extension of the move
Break below 3350 for 3345, 3336, 3329, 3320, 3310 and 3298 in extension of the move
As always, trade safe.
KOG
Gold hits 3400 againTechnically, gold seems to be fluctuating upward for the time being, and there is no room for a unilateral surge. However, this week's slow rise shows that gold is still in an absolute bullish trend. Therefore, no matter how it adjusts, the decline is an opportunity for bulls to enter the market. Gold should first remain in the range of 3332-3392 to see an increase. If it rises and breaks through 3400, the upper side will be 3440-3500. If it falls back and breaks through 3330, the lower side will be 3280. After the rise in the first three days, gold has remained above the Bollinger middle track of the daily cycle, but the Bollinger track has not opened. If we see another wave of rise on Thursday, we will see the high point of 3405. Don't be overly bullish. The rise depends on whether the daily cycle can form a unilateral moving average rising trend. The support below the moving average is near 3355. If it falls back to this point and continues to rise, breaking 3405, then the unilateral surge in the market will come. It can be clearly seen in the 4-hour chart that the Bollinger Bands are closed and the moving averages have not diverged. The current oscillating upward trend is quite obvious. It oscillates first and then moves upward. This is why I emphasize that you should not chase highs below 3400. So, today's high point is the upper rail 3405, and the lower support is near the Bollinger middle rail 3355. Even if you are bullish today, you have to wait for a decline to adjust to around 3355 to go long. If the high point 3405 is not broken, you can consider trying to go short.
Gold operation strategy: It is recommended to go short near 3405, stop loss 3415, target 3380-3360; it is recommended to go long near 3360, stop loss 3350, target 3380-3390;
Gold remains volatile at high levelsGold hit a low of 3302 on Tuesday and then rebounded. Then it hit a high of 3348 in the US market and then retreated to 3315 before rising again. It is still fluctuating around 3340. It closed at a cross star pattern with a negative line yesterday. The trend of the day is more critical. Although the bulls tried to break through in the short term, they did not break through after all. The current key pressure above is maintained at 3345-50. We continue to pay attention to the gains and losses of 3345-50.
From the 4-hour analysis, the support below is around 3315-20. If we step back and rely on this position, we will continue to look at the continuation of the rebound. The resistance above is around 3345-50. The overall gold price remains unchanged in the main tone of high-altitude and low-multiple cycles. I will remind you of the specific operation strategy during the trading session, so please pay attention to it in time.
Gold operation strategy:
1. Buy when gold falls back to 3315-20, and add more when it falls back to 3295-3003, stop loss at 3285, target at 3345-3350, and continue to hold if it breaks;
XAU/USD (Gold) – Short Setup Within Ascending Channel🕒 30-Minute Chart | 🗓️ June 12, 2025
Gold is trading within a well-defined ascending parallel channel, respecting both upper and lower bounds consistently. Currently, price has:
🔹 Rejected the upper boundary of the channel.
🔹 Formed a possible double-top or liquidity sweep, suggesting a potential short-term top.
🔹 Entered a supply zone, marked in red, where selling pressure has re-emerged.
🔹 A strong bearish engulfing move indicates sellers are regaining control.
🎯 Trade Idea:
Entry : Near 3,385–3,390 USD (supply zone rejection)
Target : Lower boundary of the channel around 3,324–3,318 USD
Stop Loss : Just above the recent high (~3,413 USD)
📌 Volume Profile: Visible volume nodes show heavy activity near 3,375 USD and 3,360 USD, which might act as interim support.
📉 Bearish bias until price either :
Breaks below the mid-channel zone (~3,360 USD), or
Reclaims and holds above the red supply zone.
🧠 Watch for reactions at key support levels – if buyers return, it could signal a channel continuation instead of a full breakdown.
XAUUSD Breakout Brewing -- Squeeze Setup in Play📆 June 12, 2025 | ⏱ 4H Chart Analysis
Gold (XAUUSD) is pressing against a key trendline resistance while holding a clean, ascending trendline from early March — forming a classic triangle squeeze.
🔍 Technical Breakdown:
The long-term bullish trendline has been respected three times, with each touch followed by strong buying interest (see orange circles).
Current price action is compressing between this trendline and descending resistance, tightening toward a potential breakout zone.
Two likely outcomes on the table:
🔺 Bullish Scenario: A confirmed breakout above $3,385 could fuel a rally toward $3,500–$3,520, especially if momentum accelerates.
🔻 Bearish Scenario: Breakdown below $3,260 risks deeper correction toward the $3,000 psychological level, aligning with prior demand zones.
📊 Indicators Insight:
EMA(15) & EMA(60) have flattened → signaling potential volatility expansion ahead.
Volume is building slightly, adding weight to a coming move.
=================================================================
⚖️ Trade Idea (Not Financial Advice)
🟢 Buy on breakout above 3,385, Target: 3,500+
🔴 Sell on breakdown below 3,260, Target: 3,000
📌 Wait for confirmation and avoid chasing within the squeeze range.
💬 What's your take — will gold break through or bounce back?
📌 Follow for consistent multi-timeframe setups across Gold, Silver, and FX majors — 2–3 times weekly.
#XAUUSD #Gold #TechnicalAnalysis #BreakoutSetup #Forex #EMA #SqueezePlay #TrianglePattern #tradingview #MJTrading
GOLD recovers strongly, market will wait for US CPI dataOANDA:XAUUSD rebounded strongly in Asian trading on Wednesday (June 11) after a sharp decline in the New York session on Tuesday. The current gold price is around $3,341/ounce, up nearly $20 on the day.
Traders are awaiting the release of the latest US Consumer Price Index (CPI) data for May. Estimates suggest that prices are likely to rise as US households feel the impact of tariffs imposed by the Trump administration. As a result, the Federal Reserve is likely to remain in a wait-and-see mode, keeping interest rates in the range of 4.25%-4.50%."
Economists expect the US CPI to rise to 2.5% year-over-year in May from 2.3%, and the core CPI to rise to 2.9% year-over-year from 2.8%.
OANDA:XAUUSD rose in Asian trade on Wednesday, even as the US and China said they had agreed on a plan to ease trade tensions during talks in London.
According to Bloomberg, easing between the world's two largest economies would be negative for safe-haven assets like gold, and the lack of a decline in gold prices suggests investors are waiting for more developments.
Gold prices have risen more than 25% this year as US President Donald Trump’s aggressive tariff policies have changed geopolitical dynamics, prompting central banks to buy gold to divest from US assets.
Bloomberg also said investors are looking ahead to Thursday’s US Treasury bond auction and weak demand could boost gold’s appeal as a safe haven.
Technical Outlook Analysis OANDA:XAUUSD
On the daily chart, after receiving support from the confluence of the EMA21 with the 0.382% Fibonacci retracement, the important support area noted by readers in the previous editions, gold has recovered once again.
The short-term upside target remains unchanged at $3,371 of the 0.236% Fibonacci retracement.
Meanwhile, the Relative Strength Index (RSI) rising from 50 is also a good signal for bullish momentum, and the large gap between the overbought area and the RSI shows that there is still a lot of room for upside ahead.
During the day, as long as gold remains above $3,292, it remains bullish in the short term with targets of $3,371 in the short term, more than the raw price point of $3,400. The positions will also be listed as follows.
Support: $3,300 – $3,292 – $3,250
Resistance: $3,371 – $3,400
SELL XAUUSD PRICE 3376 - 3374⚡️
↠↠ Stop Loss 3380
→Take Profit 1 3368
↨
→Take Profit 2 3362
BUY XAUUSD PRICE 3249 - 3251⚡️
↠↠ Stop Loss 3245
→Take Profit 1 3257
↨
→Take Profit 2 3263
Gold Trading Strategy June 12Yesterday's D1 daily frame bounced and closed above 3347. That led to a price gap today.
3375 is a resistance zone that is showing a price reaction in the European session. If it cannot be broken by mid-European session, it is possible to set up a sell at 3355. The 3355 zone for BUY strategies is in the price gap created at the beginning of today's trading session.
Any price decrease today is considered a good opportunity for buying Gold to aim for 3432
Pay attention to the 3355-3347-3321 zone for today's BUY signals. Target is still 3432 but you need to pay attention to the 3397 zone where there may be a reaction from the Sellers.
Support: 3355-3347-3321
Resistance: 3397-3432
