Gold remains under pressure inside a descending channel despite stronger-than-expected U.S. economic data released yesterday.
ADP Employment Change came in at 122K versus 118K forecast, while ISM Services PMI rose to 54.5 versus 53.7 expected. Both releases supported the USD and reinforced the view that the U.S. economy remains resilient.
However, gold has not yet broken below key support, suggesting buyers are still defending the current demand zone.
Technically, price continues to trade within a bearish channel while approaching resistance near the channel midline. The broader structure remains bearish unless buyers can reclaim higher levels.
📍 Key Levels:
🔴 4485 – 4495
Key resistance and preferred area for bearish continuation.
🟦 4435 – 4445
Current support zone.
🟦 4420 – 4430
Major support and downside target if sellers regain momentum.
📈 Preferred Scenario:
✅ Rejection from resistance keeps the bearish trend intact.
✅ A break below support could open the path toward 4425 and lower.
❌ A strong breakout above channel resistance would weaken the bearish outlook.
Today's focus shifts to U.S. Unemployment Claims. A weaker labor market reading could provide short-term support for gold, while stronger data may reinforce the current bearish structure.
Trade safe and stay disciplined.
ADP Employment Change came in at 122K versus 118K forecast, while ISM Services PMI rose to 54.5 versus 53.7 expected. Both releases supported the USD and reinforced the view that the U.S. economy remains resilient.
However, gold has not yet broken below key support, suggesting buyers are still defending the current demand zone.
Technically, price continues to trade within a bearish channel while approaching resistance near the channel midline. The broader structure remains bearish unless buyers can reclaim higher levels.
📍 Key Levels:
🔴 4485 – 4495
Key resistance and preferred area for bearish continuation.
🟦 4435 – 4445
Current support zone.
🟦 4420 – 4430
Major support and downside target if sellers regain momentum.
📈 Preferred Scenario:
✅ Rejection from resistance keeps the bearish trend intact.
✅ A break below support could open the path toward 4425 and lower.
❌ A strong breakout above channel resistance would weaken the bearish outlook.
Today's focus shifts to U.S. Unemployment Claims. A weaker labor market reading could provide short-term support for gold, while stronger data may reinforce the current bearish structure.
Trade safe and stay disciplined.
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📊 XAUUSD & Forex Trading📈 Intraday setups – risk-managed⏱️ Live alerts + technical reasoning🧠 Consistency over hype📌 Trade the plan. Manage the risk.👉 Full signals & real-time insights
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.