📌 Key Highlights
• This week brings fewer major economic releases. The market will focus on the U.S. ISM Services PMI, the June FOMC Meeting Minutes, and Weekly Jobless Claims.
• Bearish: If the Fed maintains its hawkish stance and U.S. economic data remains resilient, the USD could stay strong and continue weighing on gold.
• Bullish: If economic data weakens or the Fed signals a more dovish outlook, gold may extend its recovery.
📌 Trading Plan
Resistance: 4190–4210 | 4260–4280 | 4320–4380
Support: 4110–4125 | 4020–4040 | 3942–3960
📌 Personal View
✅ Gold is testing a long-term descending trendline and a key resistance zone.
✅ I prefer waiting for price confirmation around resistance before entering new positions.
✅ A break above 4210 could open the door for a move toward 4260–4280.
✅ Failure to hold 4125 may lead to another retest of the 4020–4040 demand zone.
📌 What do you think?
Will gold break above the downtrend, or is this just another rally to sell?
• This week brings fewer major economic releases. The market will focus on the U.S. ISM Services PMI, the June FOMC Meeting Minutes, and Weekly Jobless Claims.
• Bearish: If the Fed maintains its hawkish stance and U.S. economic data remains resilient, the USD could stay strong and continue weighing on gold.
• Bullish: If economic data weakens or the Fed signals a more dovish outlook, gold may extend its recovery.
📌 Trading Plan
Resistance: 4190–4210 | 4260–4280 | 4320–4380
Support: 4110–4125 | 4020–4040 | 3942–3960
📌 Personal View
✅ Gold is testing a long-term descending trendline and a key resistance zone.
✅ I prefer waiting for price confirmation around resistance before entering new positions.
✅ A break above 4210 could open the door for a move toward 4260–4280.
✅ Failure to hold 4125 may lead to another retest of the 4020–4040 demand zone.
📌 What do you think?
Will gold break above the downtrend, or is this just another rally to sell?
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.