Gold is trading in a well-supported ascending channel on the daily chart, holding firmly above its 20- and 50-day EMAs. Recent consolidation above $3,370 suggests strength, with a breakout above the $3,400–$3,405 resistance likely to trigger a rally toward $3,450 and beyond. Momentum indicators like RSI and MACD also favor continued upside. 
XAUUSD
The U.S. dollar has weakened amid rising expectations of a Federal Reserve rate cut by September. Lower real yields make non-interest-bearing assets like gold more attractive, reinforcing upward pressure on XAU/USD.
Entry
3400 (Breakout level)
SL
❌ 3365
Targets
✅3450,
🏁3500
RRR: 1:3
XAUUSD The U.S. dollar has weakened amid rising expectations of a Federal Reserve rate cut by September. Lower real yields make non-interest-bearing assets like gold more attractive, reinforcing upward pressure on XAU/USD.
Entry
3400 (Breakout level)
SL
❌ 3365
Targets
✅3450,
🏁3500
RRR: 1:3
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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.
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.