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Xauusdshort

Gold: Yesterday’s Surge & Today’s Session StrategyDuring yesterday’s U.S. trading session, gold surged to around 3390 🚀, driven by a series of tariff-related remarks from Trump, Fed personnel changes, and market expectations that the probability of a September rate cut has risen to 91% ⚡️. We successfully took profit near 3355 yesterday, locking in close to maximum gains 💰. Today’s trading strategy: Go short at highs during the Asian session 📉 Go long at lows during the European session 📈 Go short at highs again during the U.S. session 📉 ⚡️⚡️⚡️ XAUUSD ⚡️⚡️⚡️ 🚀 Sell@ 3390 - 3380 🚀 TP 3375 - 3366 - 3356 Daily updates bring you precise trading signals 📊 When you hit a snag in trading, these signals stand as your trustworthy compass 🧭 Don’t hesitate to take a look—sincerely hoping they’ll be a huge help to you 🌟 👇
OANDA:XAUUSDShort
by Conqueror-
XAUUSD INTRADAY ANALYSIS – AUGUST 6, 2025Gold OANDA:XAUUSD is currently consolidating around the 3,371 zone after breaking above a descending trendline formed from late July highs. A strong bullish impulse on August 2nd with significant volume suggests renewed buying pressure. Price is now retesting the breakout area — a critical moment to determine if the bullish continuation is sustainable. - Technical Breakdown: 1. Price Structure & Trendline: The former resistance at Peak 1 (3,376) is now acting as new support. A new ascending channel has formed following the breakout. Price structure is showing higher highs and higher lows, indicating short-term bullish momentum. 2. Fibonacci & EMA: The Fibonacci retracement of the recent bullish wave (Aug 1–5) aligns the 0.382 and 0.5 zones with strong support around 3,365 – 3,352. Price is hovering near the EMA20, and a close above this level will further confirm upside potential. 3. RSI Indicator: RSI is stabilizing around 50–55, reflecting neutral momentum with room for bullish continuation. - Key Price Levels: 3,352 – 3,365: Major Support (Fib + EMA + previous lows) 3,376 – 3,380: Immediate Support (breakout retest area) 3,390: Minor Resistance 3,438: Bullish Target (Peak 2) - Suggested Trading Strategy: Primary Bias: BUY if price holds above 3,365 Entry Zone: Around 3,369–3,372 (retest + trendline confluence) Stop Loss: Below 3,352 Take Profit: 3,438 (previous peak) Risk/Reward: ~1:9 (very favorable setup) - Look for bullish confirmation (e.g., bullish engulfing or pin bar around 3,365–3,370) for a high-probability entry. - Alternate Scenario: If price breaks below 3,352 with strong volume, the bullish thesis may be invalidated. In that case, consider short-term short positions targeting 3,320 area. This chart setup presents a promising trend-continuation opportunity, with technical confluences supporting further upside. As always, wait for clear price action signals before entry and manage risk accordingly.
FX:XAUUSD
by Henrybillion
Gold is waiting to break through near the dense pressure rangeGold (XAU/USD) prices fell slightly during Wednesday's Asian trading session, retreating to around $3,370, snapping a four-day winning streak. Previously, gold prices had hit a nearly two-week high on Tuesday. Gold's recent rally was driven by the Federal Reserve's policy outlook and safe-haven flows, but a recent shift in market sentiment toward optimism and a slight rebound in the US dollar index have put downward pressure on gold prices. Risk assets generally rose, including a rebound in Nasdaq futures, temporarily cooling demand for safe-haven assets. Furthermore, the dollar's slight rebound also put pressure on non-interest-bearing gold. Weak US data heightened economic concerns, supporting expectations of a rate cut this year. Last Friday's weaker-than-expected US non-farm payroll data, coupled with Tuesday's release of the July ISM Services PMI, which fell to a multi-month low of 50.1, have fueled market concerns about the US economic outlook. "Both the weak employment index and new orders suggest weakening momentum in the services sector, further strengthening the likelihood of a September rate cut by the Federal Reserve," analysts noted. The market currently expects the Federal Reserve to implement a 25 basis point interest rate cut at its September policy meeting, with the possibility of a total rate cut exceeding 50 basis points this year. While this expectation has dampened dollar bullish sentiment and provided support for gold, the optimistic stock market sentiment has weakened gold's appeal as a safe-haven asset. In trade-related news, the US President announced a new round of tariffs on imported semiconductors and pharmaceuticals, accelerating the pace of tariffs on areas such as automobiles, steel, and aluminum. This move has heightened market concerns about global supply chain risks, maintaining cautious investor sentiment and potentially providing safe-haven support for gold in the medium term. From a technical perspective, gold prices encountered clear resistance before reaching the $3,400 mark and failed to break through, shifting into a short-term consolidation pattern. The 4-hour chart shows that gold found support at the 100-period simple moving average (around $3,350) and rebounded, indicating that bulls are still trying to maintain the initiative. "Currently, hourly and daily oscillators remain positive, but if gold fails to hold above $3,400, it is likely to remain volatile in the short term," market participants noted. Upward resistance lies at the key resistance zones of $3,400 and $3,430, respectively. A break above this would open an upward trend, targeting the all-time high of $3,500 reached in April. Initial support lies at $3,350. A break below this would target the intermediate support of $3,322 and the $3,300 mark. A further break below this level could test the one-month low of $3,268. Although gold prices are currently under short-term pressure, they remain supported in the medium term amidst a slowing US economy, rising expectations of interest rate cuts, and ongoing potential trade frictions. In the short term, the price is expected to fluctuate around the $3,400 level. Focus on speeches by Federal Reserve officials and next week's US CPI data, which may provide new direction for gold. OANDA:XAUUSD VELOCITY:GOLD EIGHTCAP:XAUUSD CMCMARKETS:GOLD PYTH:XAUUSD ACTIVTRADES:GOLD FX:XAUUSD
OANDA:XAUUSD
by Charlie_Senior_Analyst
Gold h4 Based Setups Short Gold and Long analysis Market tapped above previous high (BSL + PDH Liquidity), then rejected → classic liquidity sweep • Formed FVG + BPR zone (red box) and price consolidated below it • You’re in a short trade targeting ~3365 (blue/green zone) where a new BPR + FVG block is formed (possible demand zone) If price holds below 3383–3387 zone (FVG + BPR) and breaks 3375 support zone clearly • We might see a drop toward: • 3365 (1st TP – already marked) • 3356–3352 (next demand & SSL area) 🟡 Bullish Rejection Possibility: • If price reclaims 3387 with a strong candle close • Then: • Stops above 3388–3390 may get swept • Upside potential = 3396–3402 (but less likely unless fundamentals support) Golden Buying zone for Swing trade 3335-3330 zone Second buy Golden Zone 3315-3318 Sl Below 3295 For Swing trader Mange your Risk Alwayse use strick Stoploss Happy Trading Best Of Luck
PEPPERSTONE:XAUUSDLong
by Mudasirchowdry-tycoon
8/6: Watch for a Potential Double Top FormationGood morning, everyone! Yesterday, gold experienced its first significant supply pressure around the 3386 level, but with support near 3350—helped by positive data—prices rebounded and climbed back toward 3390, resulting in solid overall gains. From the 1-day chart (1D) perspective, the technical structure remains bullish, with MA20 providing firm support. Although short-term moving averages are currently converging, the overall bias remains towards a bullish divergence, suggesting further upside potential. There's a possibility for price to test the 3400–3420 zone in today’s session. That said, the 3386–3398 region may still pose minor selling pressure, although it is not expected to be particularly strong. Key intraday support is seen in the 3378/3372–3362 range. If the market encounters another wave of heavy selling that damages the daily bullish setup, then the 3343–3348 area will become a critical battleground between bulls and bears. 📌 Trading Strategy for Today: Maintain a sell-on-strength approach, especially if prices approach the 3418–3438 resistance area, where short opportunities become more attractive; If a pullback occurs, monitor the aforementioned support zones for potential buy-on-dip opportunities, contingent on stability. ⚠️ Market Risk Reminder: There will be key economic speeches during the US session, which could trigger heightened volatility. Ensure proper risk management and stop-loss settings are in place.
FOREXCOM:XAUUSDShort
by China_MsWang
Gold rebounded near the key support level of $3,350.Spot gold edged higher during the US trading session after finding strong support near $3,350, reversing an earlier pullback. During the European trading session, gold prices briefly dipped due to improved risk appetite and a slight rise in US Treasury yields, failing to extend Monday's rebound. However, buyers stepped in near the 50-day simple moving average (SMA), pushing prices back from the day's low. The continued weakness of the US dollar, fueled by market confidence in a September Federal Reserve rate cut, supported gold's rebound. Spot gold struggled to extend last week's rebound and is currently hovering around $3,350. Last week, gold broke below an ascending triangle pattern, briefly hitting a one-month low, before finding support above the 100-day simple moving average (SMA), suggesting continued bearishness. Currently, gold is trading slightly above the 50-day SMA, providing immediate support, followed by the 100-day SMA. Further declines could lead to targets near $3,275 and $3,200. The Relative Strength Index (RSI) on the daily chart is in neutral territory around 55, indicating a lack of clear momentum. Meanwhile, the MACD indicator shows a golden cross with the DIFF crossing the DEA, and the MACD-histogram is positive, indicating accumulating bullish momentum. However, the overall reading is low, and further upward momentum is needed. A sustained golden cross and a larger candlestick pattern would be bullish. On the upside, if bulls can reclaim the bottom of the broken triangle and decisively push above $3,380, the market could potentially move towards $3,450, or even revisit the all-time high. PEPPERSTONE:XAUUSD VELOCITY:GOLD FXOPEN:XAUUSD CMCMARKETS:GOLD VANTAGE:XAUUSD ACTIVTRADES:GOLD ACTIVTRADES:GOLD ICMARKETS:XAUUSD
OANDA:XAUUSD
by Charlie_Senior_Analyst
Gold crash (SHORT) - head and shouldersGold is at an interesting crossroad. It broke through its diagonal support on Friday the 25th of July. Price is retesting previous support. Does it turn into resistance? Further confluence is a head and shoulders of the H8 and H12, with the right shoulder coinciding with the retest of the diagonal. Since I am long gold with my investments, I am hesitant to short gold through my trading business. However, if my pattern is available, I take the trade. This will be a very short term trade - a few days at most if the trade goes in my favour. Risk/reward = 12.6 Entry price = 3382.5 Stop loss price = 3396.2 Take profit level 1 (50%) = 3230 Take profit level 2 (50%) = 3181 The risk reward is exceptionally high. However, I have taken a more conservative approach with my entry because of my apprehension to short gold. For this trade I will enter at the extreme end of the range in which I will look for entries. This is the reason for such a high RR. It might result in me missing an entry.
PEPPERSTONE:XAUUSDShort
by GTradingMethod
1
GOLD (XAU) SHORT - Double top 30minRisk/reward = 2.8 Entry price = 3382.5 Stop loss price = 3390.5 Take profit level 1 (50%) = 3361.7 Take profit level 2 (50%) = 3356 I am considering a short on gold. Still need some variables to fall into place before I enter the trade. There is nice RSI negative divergence showing declining momentum. Further confluence: - Potential head and shoulders on higher time frame - At area of previous diagonal support which could be turned into resistance if the 30min double top plays out
PEPPERSTONE:XAUUSDShort
by GTradingMethod
Gold Showing Distribution Signs – Is a Bearish Reversal in Play?Technical Analysis 1. Key Support & Resistance Levels Short-term Resistance: 3,375–3,380 USD (previous consolidation zone now acting as supply) Major Support: 3,300 USD (prior breakout base, possible Fibonacci target zone) Intermediate Support: 3,335 USD (intraday low during the current correction) 2. Structure & Trend The chart shows a strong bullish impulse on August 2, breaking out of a prolonged consolidation base. After the breakout, price entered a distribution phase around 3,375 where momentum stalled and volume declined. A clear breakdown from the distribution zone is now underway, suggesting increased selling pressure and a possible retest of lower demand areas. 3. Price Action Behavior Price is currently attempting a pullback retest toward the broken structure near 3,370–3,375. There’s potential for a small head and shoulders pattern, with the neckline near 3,335. A confirmed break below this level could accelerate the move down to 3,300. 4. EMA & RSI Outlook EMA20 is beginning to turn downward and may soon cross below the EMA50, hinting at a short-term bearish trend shift. RSI (not shown but worth watching) is likely cooling off from overbought levels, providing space for further downside. Trading Strategy Ideas: Sell on pullback to resistance: Entry zone: 3,370–3,375 Target: 3,335 and 3,300 SL: 3,382 Short-term Buy if RSI oversold + bullish price action: 3,335 Target: 3,370 SL: 3,325 Gold is showing signs of weakness after a sharp rally. The breakdown from the distribution zone indicates a shift in sentiment. If price fails to reclaim 3,375 and confirms below 3,335, the 3,300 support could be the next key destination. Follow to receive more high-quality trading strategies in upcoming sessions. Save this idea if you found it useful!
FX:XAUUSD
by Henrybillion
2
Can technical factors boost gold? (Must-read for traders)After three consecutive days of strong rebounds, spot gold has entered a period of sideways trading, trading around $3,370 in the European session, with a short-term seesaw pattern. A slight rebound in the US dollar index has weighed on gold prices, but market expectations of a September Fed rate cut remain supportive. Furthermore, lingering global trade uncertainty has prevented a significant decline in safe-haven demand. Fundamentals: Gold's recent upward momentum has been driven by weak US economic data and rising expectations of rate cuts. Last week's non-farm payroll data showed a significant weakening in the labor market, reinforcing market bets that the Fed will begin another round of rate cuts in September. The CME FedWatch tool shows that the market's expectation of a September rate cut has exceeded 90%. Meanwhile, US factory orders plummeted 4.8% in June, further highlighting economic weakness. On the other hand, US President Trump signed an executive order last week raising tariffs on imports from dozens of countries, with the minimum tariff rate reaching 15% for countries with trade deficits with the US. With these measures about to take effect, this uncertainty continues to weigh on global market sentiment and supports gold's safe-haven properties. However, a slight rebound in the US dollar partially offset gold's upward momentum. Traders will be watching the upcoming US ISM Services PMI data to determine whether the economic slowdown has spread to the services sector. Technical Analysis: On the daily chart, gold prices have recently traded between the middle and upper Bollinger Bands (3343.59) and 3411.09, failing to break through key resistance. The overall trend remains within the medium-term range, with no clear trend emerging. The recent candlestick chart pattern forms a typical "sideways fluctuation" pattern, indicating significant pressure near the previous high of 3438.80, while the lower Bollinger Band (3276.09) provides support, suggesting a short-term "box consolidation" pattern. On the MACD indicator, the fast and slow lines are near the zero axis, while the DIFF and DEA lines have formed a slight golden cross, but the angle is gentle. The red bar has limited momentum, indicating insufficient upward momentum and a lack of a strong rebound. The Relative Strength Index (RSI) remained at 54.81, within the neutral to strong range, indicating a lack of clear short-term price direction. Market sentiment remains cautious. Further attention will be paid to whether the price stabilizes above the middle Bollinger Band or retreats to test previous support levels. Market Sentiment Observation: Current gold market sentiment is cautiously optimistic. Traders are pricing in a high level of interest in the Federal Reserve's rate cut, driving a short-term rebound in gold prices. However, the dollar's resilience remains, limiting gold's upside potential. Indicators show a lack of significant inflows into gold ETFs, suggesting the market has not yet fully shifted to a defensive position. The technical chart shows a typical "consolidation platform," indicating that the market is awaiting clearer policy or data guidance. Investors remain interested in safe-haven assets, but their willingness to chase higher prices is weak. In the short term, market sentiment may continue to be constrained by fluctuations in external macroeconomic data and shifting policy expectations. Market Outlook: Bull Perspective: Analysts believe that if gold prices break through the upper Bollinger Band at 3411.09 and the MACD indicator expands, further upside potential is expected, with the previous high of $3450 in sight. If the Federal Reserve signals a clear interest rate cut or if the US economy continues to weaken, gold could see a mid-term trend reversal and resume its upward trend. Bear Perspective: Analysts believe that if gold prices remain constrained in the 3400-3411 range and fall below the middle Bollinger Band and moving average support, a short-term pullback could occur, testing the lower support band at $3276. If the ISM Services PMI exceeds expectations and the US dollar strengthens again, gold could return to bearish momentum. FOREXCOM:XAUUSD ACTIVTRADES:GOLD ICMARKETS:XAUUSD CMCMARKETS:GOLD PYTH:XAUUSD FOREXCOM:GOLD ICMARKETS:XAUUSD CMCMARKETS:GOLDZ2025 CMCMARKETS:GOLD
OANDA:XAUUSD
by Charlie_Senior_Analyst
Gold Spot (XAU/USD) 1-Hour Chart Analysis – Potential Upside TowThis 1-hour chart for Gold Spot (XAU/USD) from FXOPEN shows a key support level at $3,360.96 and a potential target at $3,400.31. The current price is hovering around $3,372.04, just below the minor resistance of $3,373.78. A bullish breakout from this zone could initiate a move toward the target, as illustrated by the projected upward path. The support zone marked in blue suggests a strong buying interest that could act as a rebound area if prices dip. Watch for price action confirmation near support for potential long entries.
FXOPEN:XAUUSDShort
by Forex_Vip_Signals
5
XAUUSD shows bearish divergence. Minor correction or sign of a rXAUUSD shows bearish divergence. Minor correction or sign of a reversal? On August 4 gold continued bullish momentum, started on August 1 after disappointing nonfarm payrolls report came out that heightened fears about the U.S. economy’s health. Investors now see a 94.4% likelihood of a Federal Reserve rate cut in September. Gold gained further support due to doubts about the Fed’s autonomy after Governor Adriana Kugler resigned on August 1, opening the door for President Trump to appoint a successor who may support his push for lower interest rates. The metal’s safe-haven status was also bolstered by trade tensions, as Trump’s new tariffs on exports from numerous trading partners are scheduled to begin on August 7. Despite this, in short term gold looks bearish. The price has failed to break through the intermediate level of 3,380.00 and currently trades slightly below this level, showing bearish divergence. The decline towards the SMA50 with further rise towards 3,440.00 is expected here. Second option (less probable) is the price comes back to a level of 3,300.00.
SAXO:XAUUSDShort
by ProfessorSingapore
Gold Consolidates at the Top, Bearish Reversal Ahead?On the 15-minute chart, XAUUSD is showing signs of exhaustion after a strong bullish impulse. Price is currently consolidating around the 3,370–3,375 resistance area, failing to make a clean breakout. Volume is fading, suggesting buyer momentum is weakening. Technical Breakdown: 1. Market Structure: Since late July, the market has formed a clear uptrend with higher highs and higher lows. However, recent price action is showing indecision at the top, with multiple rejection wicks – indicating a potential short-term distribution phase. 2. Price Action & Supply-Demand Zones: Demand Zone 1: Around 3,310–3,320 acted as the launchpad for the strong bullish breakout on August 2. Demand Zone 2: Around 3,345–3,350 provided support for the next leg up. Current Supply Zone: Between 3,375–3,380 – multiple rejections have been observed here. 3. Indicators Overview: EMA20 & EMA50 (not shown but inferred): Upward sloping, but starting to flatten – signaling potential consolidation or bearish divergence. RSI (likely above 70 earlier): Now showing signs of bearish divergence, supporting a possible short-term correction. 4. Fibonacci Retracement Analysis: From the recent bullish swing (3,310 → 3,375), key retracement levels are: 0.382 → ~3,350 0.5 → ~3,342 0.618 → ~3,334 This confluence around the 3,334–3,342 range makes it a critical zone for a potential bullish bounce. Suggested Trading Strategies Scenario 1 – Scalping the Rejection (Counter-trend short): Entry: SELL limit at 3,375–3,380 Stop Loss: 3,386 Take Profits: TP1: 3,350 (Fibonacci 0.382) TP2: 3,335 (Fibonacci 0.618 + previous support) Scenario 2 – Trend Confirmation (Breakdown Play): Setup: Sell if price breaks below 3,350 with volume confirmation. Target Zones: Initial target: 3,310 (prior demand zone) Extended target: 3,280–3,265 (possible Wyckoff distribution breakdown) Key Levels to Watch: Significance: 3,380 - Resistance - Short-term supply zone 3,350: Support - Key Fibonacci 0.382 level 3,334: Support - Strong confluence zone (Fibo + demand) 3,310: Support - Bullish breakout base Conclusion: Gold is currently in a vulnerable position with signs of bullish exhaustion. Traders should stay patient and wait for confirmation before entering. Watch the 3,350–3,334 zone for reaction – it will likely decide the next directional move. If you found this analysis helpful, make sure to follow for more updated strategies and save this post for future reference.
FX:XAUUSD
by Henrybillion
1
8/5: Watch for Short Opportunities Near 3400Good morning, everyone! On Wednesday, gold held above the key support area at 3343–3337, and subsequently broke through the 3372–3378 resistance zone, leading to a strong bullish move and solid long-side gains. Today, attention should shift to the major resistance around 3400. If bullish momentum continues, price may approach the secondary resistance near 3420. However, from a technical perspective, signs of bearish divergence have begun to emerge. Should price continue rising while momentum weakens, the risk of a short-term correction increases accordingly. Key levels to monitor: Primary resistance zone: 3404–3416 Intermediate supply area: around 3398 Crucial support zone: 3372–3363 (a hold here could support further upside) ⚠️ Cautionary Note: The US PMI data release during the New York session could introduce volatility. Be sure to maintain strict risk management and stop-loss discipline during periods of increased uncertainty. 🔁 Trading Bias for Today: Prefer selling into strength near resistance, while cautiously considering buying on dips near support. The 3343–3337 area continues to serve as the primary support zone, and price action around this level will be critical in determining the next directional move
FOREXCOM:XAUUSDShort
by China_MsWang
XAUUSD needs Retest H4 TIMEFRAME SETUP We shared daily our XAUUSD for deep insights and knowledge. Currently we have range of 3345-3380 area also we have proper CHOCH on H4 at 3335 support area As I mentioned in our previous commantary we have bullish momentum which is almost near our milestone. What possible scenarios we have ? • Atm i took sell from 3385 with minimal risk Sell from 3395-3400 TARGETS 3370 then 3350 milestone. • above 3405- 3408 our selling will be invalid and we'll took buy to ATH
OANDA:XAUUSDShort
by Forexmaestro121
Gold Spot / U.S. Dollar (XAUUSD) 4-Hour Chart - OANDA4-hour performance of the Gold Spot price against the U.S. Dollar (XAUUSD) from late July to early August 2025. The current price is 3,362.895, reflecting a +72.775 (+2.21%) increase. Key levels include a sell price of 3,362.200 and a buy price of 3,363.590. The chart highlights a recent upward trend with a notable resistance zone around 3,395.716 and a support level near 3,336.129, as indicated by the shaded areas.
OANDA:XAUUSDLong
by Alee_Gold_Trader
XAUUSD:BUYThere is no need to worry about holding long orders mentioned last Friday. Gold prices continued to rise this week after a pullback. The price has risen to 3372. According to the research team of our swing trading analysis team, the bullish trend will continue. Earlier I informed members that some buy orders were closed at high levels. At that time, the short-term high was around 3370. After closing the long orders, the price subsequently fell. This is the advantage of swing trading. You can use accurate trading signals to trade in batches in the short term, thereby creating opportunities for quick profits. After the pullback, there is still good room for buying and opportunities.
OANDA:XAUUSDLong
by WIN_Ludvig
8/4: Watch Support at 3343–3337 and Resistance at 3372–3378Good morning, everyone! Last Friday, gold rallied strongly, driven by a combination of favorable economic data and bullish technical signals, decisively breaking above the 3337–3343 resistance zone. During the subsequent pullback, price action remained firm above 3337, followed by a secondary upward move. From a technical standpoint, the structure suggests the potential for continued upward consolidation, with the possibility of filling the gap near 3396. However, significant resistance remains between 3372 and 3378 — failure to break through this zone decisively may result in a short-term pullback before further gains. Key levels to watch: Initial support: 3348 and 3337–3343 zone Major support: 3312–3300 zone (a break below could signal deeper downside risk) Trading Strategy: Focus on intraday setups around these critical areas. Look for buy opportunities on dips as long as support holds, while remaining cautious of sharp pullbacks near strong resistance.
FOREXCOM:XAUUSDLong
by China_MsWang
Gold 4H timeframe Based on the chart my shared (Gold 4H timeframe with Ichimoku cloud), here are the identified target points: 📈 Upside Targets: 1. First Target: 3380 This is marked just above the Ichimoku cloud breakout. It is a short-term resistance zone. 2. Second Target: 3420 This is the higher target zone indicated in the chart. It aligns with a previous high and potential resistance area. --- 🟡 Key Support: Support Zone: Around 3322 – 3353 Price needs to hold above this zone to maintain the bullish momentum.
CAPITALCOM:GOLDLong
by RSI_Trading_point
14
Distribution Phase at the Top, Key Support in FocusFollowing a sharp breakout from the demand zone around $3,310, gold has entered a sideways consolidation range between $3,355 – $3,367. The price has repeatedly tested the support at $3,352 – $3,354 but failed to form higher highs beyond $3,367. This signals buyer exhaustion and a potential distribution pattern at the top. The inability to push higher suggests increased risk of a bearish breakdown. Key Technical Levels Immediate Resistance: $3,367.77 Short-Term Support: $3,352 – $3,354 (blue box zone) Major Support Below: $3,310 – $3,315 (previous breakout base, near 0.5 Fibonacci retracement) Suggested Trading Strategies Primary Scenario: Sell on Breakdown Trigger Condition: Price breaks below $3,352 with increasing volume Entry: $3,350 Stop Loss: $3,360 Target: $3,320 – $3,310 This is a momentum-following setup, ideal if the current support fails. Alternative Scenario: Buy from Major Support Entry Zone: $3,310 – $3,315 Stop Loss: Below $3,300 Target: $3,345 – $3,355 Suitable for counter-trend traders looking to catch a rebound off strong demand. Additional Technical Signals EMA 20 (15m): Flattening out, indicating loss of bullish momentum RSI: Hovering around 50, showing a balance between buyers and sellers Volume: Gradually decreasing, suggesting a potential breakout setup is building Gold is currently in a distribution phase after a sharp upward move. If the $3,352 support zone breaks, a retracement toward $3,310 – $3,315 is likely. However, bulls may step back in around that zone for a potential rebound. Follow for more real-time gold strategies. Save this post if you find it useful for today’s session!
FX:XAUUSD
by Henrybillion