Gold 30/07 – Pullback Confirmed, Eyeing the 0.5 Fibo Zone
Gold reacts after climbing gradually – is this a healthy correction or the start of something deeper? Let’s analyse what’s driving today’s setup.
📈 Macro Summary
Markets are starting the week cautiously as three key events loom large: the ADP report, Non-Farm Payrolls (NFP), and today’s highly anticipated FOMC meeting. Investors are closely watching for clues about the Fed’s stance on potential interest rate cuts in the near term.
🔻 Technical Analysis
After moving steadily within a rising channel, gold has shown signs of correction towards the 0.5 Fibonacci retracement near the 337x area.
Although this appears to be a pullback within an ongoing bullish wave, the price range is relatively wide. The buy zone around 3320–3322 was tested early, with price reacting strongly off an order block in that area.
In the short term, if volatility remains muted, gold may continue pushing higher toward value zones near 3357 and 3388, where key technical confluences suggest potential resistance.
📊 Intraday Trade Scenarios
Buy Setups (preferred today):
Entry: 3320–3322 | SL: 3316 | TP: 3335 → 3350 → 3368
Entry: 3288–3290 | SL: 3284 | TP: 3300 → 3315 → 3320 → 3335 → 3350
Sell Setups (short-term rejection trades):
Entry: 3355–3357 | SL: 3361 | TP: 3350 → 3338 → 3330 → 3315
Entry: 3388–3390 | SL: 3395 | TP: 3375 → 3358 → 3340 → 3328
📌 Expert Outlook
The current structure reflects a healthy technical correction within a broader bullish context. However, the wide price swings combined with pre-news indecision mean traders should:
Focus on trading with the dominant trend
Avoid chasing price during periods of low liquidity
#GoldAnalysis #FOMCWeek #UKForex #TechnicalOutlook
Gold reacts after climbing gradually – is this a healthy correction or the start of something deeper? Let’s analyse what’s driving today’s setup.
📈 Macro Summary
Markets are starting the week cautiously as three key events loom large: the ADP report, Non-Farm Payrolls (NFP), and today’s highly anticipated FOMC meeting. Investors are closely watching for clues about the Fed’s stance on potential interest rate cuts in the near term.
🔻 Technical Analysis
After moving steadily within a rising channel, gold has shown signs of correction towards the 0.5 Fibonacci retracement near the 337x area.
Although this appears to be a pullback within an ongoing bullish wave, the price range is relatively wide. The buy zone around 3320–3322 was tested early, with price reacting strongly off an order block in that area.
In the short term, if volatility remains muted, gold may continue pushing higher toward value zones near 3357 and 3388, where key technical confluences suggest potential resistance.
📊 Intraday Trade Scenarios
Buy Setups (preferred today):
Entry: 3320–3322 | SL: 3316 | TP: 3335 → 3350 → 3368
Entry: 3288–3290 | SL: 3284 | TP: 3300 → 3315 → 3320 → 3335 → 3350
Sell Setups (short-term rejection trades):
Entry: 3355–3357 | SL: 3361 | TP: 3350 → 3338 → 3330 → 3315
Entry: 3388–3390 | SL: 3395 | TP: 3375 → 3358 → 3340 → 3328
📌 Expert Outlook
The current structure reflects a healthy technical correction within a broader bullish context. However, the wide price swings combined with pre-news indecision mean traders should:
Focus on trading with the dominant trend
Avoid chasing price during periods of low liquidity
#GoldAnalysis #FOMCWeek #UKForex #TechnicalOutlook
Trade active
Today's FFAX buy signal delivered an excellent result, securing a 100-pip profit, with price still moving ahead of the FOMC announcement.
👑 Price Action - Simple Trade System - One Shot One Kill Style
🔥 Get Real - Time (3-4 Free Call Daily) Trading Signals Here:
t.me/+tztxI5K-2u80ZGU1
🔥 Get Real - Time (3-4 Free Call Daily) Trading Signals Here:
t.me/+tztxI5K-2u80ZGU1
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.
👑 Price Action - Simple Trade System - One Shot One Kill Style
🔥 Get Real - Time (3-4 Free Call Daily) Trading Signals Here:
t.me/+tztxI5K-2u80ZGU1
🔥 Get Real - Time (3-4 Free Call Daily) Trading Signals Here:
t.me/+tztxI5K-2u80ZGU1
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.