XAUUSD Gold has just broken out of a descending wedge formation and is now building bullish momentum. The daily chart shows a clear breakout above the upper channel line, confirming that buyers have taken control. Across the 4‑hour and daily charts, price is holding above key moving averages (20/50/100) and recently formed a bullish hammer—classic signals of fresh upside potential. A fib retracement off the wedge low would likely find support around $3,300–3,320, which already held strong. With immediate resistance in the $3,342–3,350 range, I'm expecting a firm push toward the $3,400 zone next, positioning for a possible continuation to $3,450+.
Fundamentals continue to steer price in our favor. In Q3 2025, gold remains elevated as the U.S. dollar loses steam and rate‑cut expectations rise. The market is pricing in a possible Fed move as early as next month, while tariff and trade uncertainty continues to dominate headlines. Central bank gold purchases remain strong, and investors are seeking safe‑haven shelter amid economic jitters—supporting gold’s role as a defensive asset. With YTD gains nearing 26%, momentum remains firmly bullish.
Looking ahead over the next couple of weeks, the risk/reward remains favorable. If gold holds above the $3,330–3,340 zone, we can remain bullish toward targets $3,400–$3,450. A dip toward that zone would present an attractive long entry, reinforcing our position. However, a breakdown below $3,300 would warrant caution and could introduce a deeper correction.
Given current technicals, fundamentals, and macro backdrop, this setup offers a strong opportunity. With proper risk management and support confirmation, another significant bullish leg toward $3,450–$3,500 is well within reach. Have a profitable trade.
Fundamentals continue to steer price in our favor. In Q3 2025, gold remains elevated as the U.S. dollar loses steam and rate‑cut expectations rise. The market is pricing in a possible Fed move as early as next month, while tariff and trade uncertainty continues to dominate headlines. Central bank gold purchases remain strong, and investors are seeking safe‑haven shelter amid economic jitters—supporting gold’s role as a defensive asset. With YTD gains nearing 26%, momentum remains firmly bullish.
Looking ahead over the next couple of weeks, the risk/reward remains favorable. If gold holds above the $3,330–3,340 zone, we can remain bullish toward targets $3,400–$3,450. A dip toward that zone would present an attractive long entry, reinforcing our position. However, a breakdown below $3,300 would warrant caution and could introduce a deeper correction.
Given current technicals, fundamentals, and macro backdrop, this setup offers a strong opportunity. With proper risk management and support confirmation, another significant bullish leg toward $3,450–$3,500 is well within reach. Have a profitable trade.
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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.
Join our Forex Community Telegram group and connect with thousands of traders.
Hit the Link below
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linkin.bio/andrewstelegramfamily
Hit the Link below
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linkin.bio/andrewstelegramfamily
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.