Fundamental Reason for Bullish:
The Federal Reserve cut rates from 4.25% → 4.00%.
This supports gold’s bullish momentum since lower rates reduce the opportunity cost of holding gold.
Technical Structure:
Potential Reversal Zone: Highlighted in yellow. Price is currently testing this area around 3645–3655.
A bounce from this zone aligns with the 3-month uptrend line (black trendline).
If price respects this support, bullish continuation is expected.
Bullish Projection Path:
First, a rebound from the reversal zone.
Then, a push towards 3700–3720 with a possible retest.
Final Target Price Zone: ~3750–3780.
Risk Area (Stop Loss Zone):
If price breaks below the reversal zone and trendline (~3640–3635), bullish outlook weakens and downside risk opens.
🎯 Summary
Bias: Bullish (Fundamental + Technical confluence).
Reason: Rate cut + uptrend line support.
Targets: 3700 → 3750 → 3780.
Invalidation: Break below 3640.
The Federal Reserve cut rates from 4.25% → 4.00%.
This supports gold’s bullish momentum since lower rates reduce the opportunity cost of holding gold.
Technical Structure:
Potential Reversal Zone: Highlighted in yellow. Price is currently testing this area around 3645–3655.
A bounce from this zone aligns with the 3-month uptrend line (black trendline).
If price respects this support, bullish continuation is expected.
Bullish Projection Path:
First, a rebound from the reversal zone.
Then, a push towards 3700–3720 with a possible retest.
Final Target Price Zone: ~3750–3780.
Risk Area (Stop Loss Zone):
If price breaks below the reversal zone and trendline (~3640–3635), bullish outlook weakens and downside risk opens.
🎯 Summary
Bias: Bullish (Fundamental + Technical confluence).
Reason: Rate cut + uptrend line support.
Targets: 3700 → 3750 → 3780.
Invalidation: Break below 3640.
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.