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After a sharp decline from the recent highs,
XAUUSD quickly regained its strength and established a clear upward trend. The H4 chart shows the potential formation of a new upward trendline, with support positioned around the 3,350 USD zone.
This recent recovery is not just a technical bounce – it's supported by strong fundamental factors: weakening US bond yields, rising expectations that the Fed will cut interest rates in September, and a market sentiment that’s leaning towards safe-haven assets.
Currently, gold is trading around 3,380 USD and seems to be consolidating the momentum to approach the next resistance level at 3,433 USD. If the price holds above the new trendline and doesn’t break the marked support, the continuation of the upward trend is highly likely.
Personal view: The bullish trend remains intact – just a breakout confirmation and the 3,433 USD target will be within reach.
What do you think? Will gold continue its breakout this week? Leave your thoughts in the comments below!
After a sharp decline from the recent highs,
XAUUSD quickly regained its strength and established a clear upward trend. The H4 chart shows the potential formation of a new upward trendline, with support positioned around the 3,350 USD zone.This recent recovery is not just a technical bounce – it's supported by strong fundamental factors: weakening US bond yields, rising expectations that the Fed will cut interest rates in September, and a market sentiment that’s leaning towards safe-haven assets.
Currently, gold is trading around 3,380 USD and seems to be consolidating the momentum to approach the next resistance level at 3,433 USD. If the price holds above the new trendline and doesn’t break the marked support, the continuation of the upward trend is highly likely.
Personal view: The bullish trend remains intact – just a breakout confirmation and the 3,433 USD target will be within reach.
What do you think? Will gold continue its breakout this week? Leave your thoughts in the comments below!
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✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
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.