"XAU/USD is testing a key resistance at $3,304. A breakout could trigger a rally to $3,315, while rejection may lead to a drop to $3,292."
Price Action & Key Levels
Support: 3,298 → 3,292 (critical demand zone).
Resistance: 3,304 → 3,310 (supply zone).
Breakout Level: 3,304 (confirmation needed).
Indicator-Based Evidence
RSI: "RSI at 62 (not overbought), suggesting room for upside."
MACD: "MACD histogram is rising, supporting bullish momentum."
Moving Averages: *"Price above 9 & 21 EMA, short-term trend bullish."
Fundamental Context
"Gold is supported by Fed rate cut expectations, but a strong USD could limit gains."
"Geopolitical risks (e.g., Middle East tensions) may boost safe-haven demand."
Scenario 1: Bullish Breakout
Entry: Buy above $3,304 (confirmed close).
Target: $3,310 → $3,315.
Stop-Loss: Below $3,298 (risk management).
Scenario 2: Bearish Rejection
Entry: Sell below $3,298.
Target: $3,292 → $3,288.
Stop-Loss: Above $3,306.
Price Action & Key Levels
Support: 3,298 → 3,292 (critical demand zone).
Resistance: 3,304 → 3,310 (supply zone).
Breakout Level: 3,304 (confirmation needed).
Indicator-Based Evidence
RSI: "RSI at 62 (not overbought), suggesting room for upside."
MACD: "MACD histogram is rising, supporting bullish momentum."
Moving Averages: *"Price above 9 & 21 EMA, short-term trend bullish."
Fundamental Context
"Gold is supported by Fed rate cut expectations, but a strong USD could limit gains."
"Geopolitical risks (e.g., Middle East tensions) may boost safe-haven demand."
Scenario 1: Bullish Breakout
Entry: Buy above $3,304 (confirmed close).
Target: $3,310 → $3,315.
Stop-Loss: Below $3,298 (risk management).
Scenario 2: Bearish Rejection
Entry: Sell below $3,298.
Target: $3,292 → $3,288.
Stop-Loss: Above $3,306.
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.
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.