Current Technical Analysis
1. Price Action:
- The price is consolidating near the middle of this range, indicating potential indecision.
2. Key Levels:
- Support:
- Immediate: 3,300.00 (psychological level)
- Stronger: 3,260 recent low)
- Resistance
- Immediate: 3,319 (recent high)
- Next: 3,340 and 3,363 higher highs)
3. Short-Term Bias:
- Neutral to slightly bullish if price holds above 3,300.
- Bearish if it breaks below 3,260.
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Fundamental Factors to Watch This Week
1. Upcoming Economic Data (June 2025):
- U.S. Inflation Data (CPI/PCE): High inflation could strengthen USD, pressuring gold.
- Fed Speeches: Hawkish tones may boost USD, bearish for gold. Dovish tones could support gold.
- Geopolitical Risks: Escalations (e.g., Middle East, Ukraine) could spike safe-haven demand for gold.
2. USD Strength:
- Gold is inversely correlated with the USD. Monitor DXY (U.S. Dollar Index) for directional cues.
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Trading Ideas for the Coming Week
1. Bullish Scenario (Buy Dips):
- Entry: Near3,300 support with a stop-loss below 3,260.
- Target: 3,340 → 3,363 (scalp) or **3,400.00(swing).
- Catalyst: Weak USD data or risk-off sentiment.
2.BEARISH Scenario (Sell Rallies):
- Entry: Near 3,319–3,340.00resistance with a stop-loss above 3,363
- Target: 3,260 → 3,240 (if breakdown occurs).
- Catalyst: Strong USD or hawkish Fed comments.
3. Breakout Strategy:
- Watch for a clear break above 3,340 (bullish) or below 3,260 (bearish) for momentum trades.
Trade active
SELL trade activated and running 200 pips
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.