XAUUSD – Weekly Outlook: Strong Bullish Momentum Meets Key US Data | MMFLOW TRADING
Market View:
Gold (XAUUSD) ended the week with explosive momentum after Nonfarm Payrolls pushed price to a new ATH near $3600/oz. On the daily chart, the bullish candle closed with only ~30% wick, showing no signs of profit-taking. The weekly chart also printed a powerful bullish candle, confirming BUY dominance. This suggests that gold could see further upside in the coming week – and potentially throughout this month.
Macro & Fundamental Drivers (Week Ahead):
Key US data will drive volatility in XAUUSD:
Wed, Sep 10: Core PPI & PPI m/m → hotter-than-expected prints could support USD short term, weighing on gold.
Thu, Sep 11: CPI (Core, m/m, y/y) + Jobless Claims → the most critical release. Softer CPI + higher jobless claims would fuel gold’s rally, while hotter CPI keeps Fed hawkish.
Fri, Sep 12: UoM Consumer Sentiment & Inflation Expectations → inflation outlook could shape Fed expectations further.
Overall, fundamentals may create volatility, but the medium-term bias stays bullish.
Technical Outlook (H1 Chart):
Price is consolidating sideways after the Nonfarm breakout. Key levels to watch next week:
Support: 3574 – 3551 – 3530 – 3516
Resistance: 3600 – 3621 – 3633 – 3649 – 3669 – 3678
Trading Plan:
BUY bias (preferred):
Long on pullbacks around 3574–3550
SL: below 3530
TP: 3600 → 3621 → 3633 → 3649 → 3669 → 3678
SELL scalp (alternative):
Only if 3530 breaks with strong CPI upside surprise → target 3516/3527
Summary:
✅ Gold remains in a strong uptrend on both Daily and Weekly charts, with macro factors favouring further upside if inflation continues to ease.
👉 Watch 3592 (bullish trigger) and 3575 (bearish trigger) – these are the decision points for the next major move.
Follow MMFLOW TRADING for daily updates and trade setups.
Market View:
Gold (XAUUSD) ended the week with explosive momentum after Nonfarm Payrolls pushed price to a new ATH near $3600/oz. On the daily chart, the bullish candle closed with only ~30% wick, showing no signs of profit-taking. The weekly chart also printed a powerful bullish candle, confirming BUY dominance. This suggests that gold could see further upside in the coming week – and potentially throughout this month.
Macro & Fundamental Drivers (Week Ahead):
Key US data will drive volatility in XAUUSD:
Wed, Sep 10: Core PPI & PPI m/m → hotter-than-expected prints could support USD short term, weighing on gold.
Thu, Sep 11: CPI (Core, m/m, y/y) + Jobless Claims → the most critical release. Softer CPI + higher jobless claims would fuel gold’s rally, while hotter CPI keeps Fed hawkish.
Fri, Sep 12: UoM Consumer Sentiment & Inflation Expectations → inflation outlook could shape Fed expectations further.
Overall, fundamentals may create volatility, but the medium-term bias stays bullish.
Technical Outlook (H1 Chart):
Price is consolidating sideways after the Nonfarm breakout. Key levels to watch next week:
Support: 3574 – 3551 – 3530 – 3516
Resistance: 3600 – 3621 – 3633 – 3649 – 3669 – 3678
Trading Plan:
BUY bias (preferred):
Long on pullbacks around 3574–3550
SL: below 3530
TP: 3600 → 3621 → 3633 → 3649 → 3669 → 3678
SELL scalp (alternative):
Only if 3530 breaks with strong CPI upside surprise → target 3516/3527
Summary:
✅ Gold remains in a strong uptrend on both Daily and Weekly charts, with macro factors favouring further upside if inflation continues to ease.
👉 Watch 3592 (bullish trigger) and 3575 (bearish trigger) – these are the decision points for the next major move.
Follow MMFLOW TRADING for daily updates and trade setups.
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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.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
t.me/+1rXbCGqCUAoyMmU9
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
t.me/+1rXbCGqCUAoyMmU9
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.