✅ Today’s ADP report came in bullish for gold,
✅ Meanwhile, the Federal Reserve’s Beige Book reveals:
A slight slowdown in economic activity
Increased policy uncertainty and price pressures for businesses and consumers
An overall pessimistic economic outlook
📌 Combined with ongoing geopolitical tensions, this creates a supportive backdrop for safe-haven buying in gold.
🔍 Technical Outlook (1D Chart):
Gold is still facing a bearish divergence on the daily chart. For this to resolve, the market must choose between:
1️⃣ A strong breakout with volume, pushing toward 3430–3450
2️⃣ A pullback to repair structure, including filling the gap below 3300, which may later fuel a rally toward 3500+ if bullish catalysts arise
📅 Key Events to Watch This Week:
Thursday: Initial Jobless Claims
Friday: NFP (Nonfarm Payrolls)
⚠️ Also monitor developments on trade tariffs, which may affect market sentiment
📊 Short-Term Trade Plan (Range Strategy):
🎯 Key levels to watch:
Resistance: around 3400
Support: near 3366
📌 Consider range trading between 3408–3358, selling highs and buying dips with strict risk control.
✅ Meanwhile, the Federal Reserve’s Beige Book reveals:
A slight slowdown in economic activity
Increased policy uncertainty and price pressures for businesses and consumers
An overall pessimistic economic outlook
📌 Combined with ongoing geopolitical tensions, this creates a supportive backdrop for safe-haven buying in gold.
🔍 Technical Outlook (1D Chart):
Gold is still facing a bearish divergence on the daily chart. For this to resolve, the market must choose between:
1️⃣ A strong breakout with volume, pushing toward 3430–3450
2️⃣ A pullback to repair structure, including filling the gap below 3300, which may later fuel a rally toward 3500+ if bullish catalysts arise
📅 Key Events to Watch This Week:
Thursday: Initial Jobless Claims
Friday: NFP (Nonfarm Payrolls)
⚠️ Also monitor developments on trade tariffs, which may affect market sentiment
📊 Short-Term Trade Plan (Range Strategy):
🎯 Key levels to watch:
Resistance: around 3400
Support: near 3366
📌 Consider range trading between 3408–3358, selling highs and buying dips with strict risk control.
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.