📊 Market Overview:
Gold is holding at record highs, trading around $3,652/oz, supported by a weaker dollar, lower yields, and growing Fed rate cut expectations.
📉 Technical Analysis:
• Key resistance (near-term): 3650 – 3665
• Extended resistance (H1): 3690 – 3700
• Nearest support: 3640 – 3635
• Extended support (H1): 3615 – 3608
• EMA: Price is trading above multiple EMAs, confirming a bullish bias.
• Candles / Volume / Momentum: Momentum remains bullish; RSI on H1 is slightly overbought, suggesting potential for short pullbacks before continuation.
📌 Outlook:
Gold is likely to continue higher short-term if it holds above 3640. A breakout above 3665 could open the door to 3690 – 3700, with potential extension to 3725 – 3735. Conversely, a drop below 3635 may trigger downside pressure toward 3615 – 3585.
💡 Suggested Trading Strategy:
🔺 BUY XAU/USD: 3640 – 3643
🎯 TP: 40/80/200 pips
❌ SL: 3637
🔻 SELL XAU/USD : 3663 – 3666
🎯 TP: 40/80/200 pips
❌ SL: 3669
Gold is holding at record highs, trading around $3,652/oz, supported by a weaker dollar, lower yields, and growing Fed rate cut expectations.
📉 Technical Analysis:
• Key resistance (near-term): 3650 – 3665
• Extended resistance (H1): 3690 – 3700
• Nearest support: 3640 – 3635
• Extended support (H1): 3615 – 3608
• EMA: Price is trading above multiple EMAs, confirming a bullish bias.
• Candles / Volume / Momentum: Momentum remains bullish; RSI on H1 is slightly overbought, suggesting potential for short pullbacks before continuation.
📌 Outlook:
Gold is likely to continue higher short-term if it holds above 3640. A breakout above 3665 could open the door to 3690 – 3700, with potential extension to 3725 – 3735. Conversely, a drop below 3635 may trigger downside pressure toward 3615 – 3585.
💡 Suggested Trading Strategy:
🔺 BUY XAU/USD: 3640 – 3643
🎯 TP: 40/80/200 pips
❌ SL: 3637
🔻 SELL XAU/USD : 3663 – 3666
🎯 TP: 40/80/200 pips
❌ SL: 3669
Trade active
The gold price, after reaching a historical peak, has been sold off by profit-taking traders and is currently trading at 3642.Trade closed: target reached
Gold testing highs, possible pullback below $3,675
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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
📰 Real-time news updates & expert analysis
💡 Technical breakdowns & market outlooks
🔗 Join our free group: telegram.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
💡 Technical breakdowns & market outlooks
🔗 Join our free group: telegram.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.