GOLD WEEKLY OUTLOOK – AWAITING CPI & PPI IMPACT!
GOLD WEEKLY OUTLOOK – CPI & PPI TO DRIVE THE NEXT MOVE!
🔥 GOLD REMAINS IN A RANGE – BREAKOUT OR CORRECTION AHEAD? 🔥
📌 Market Overview
Gold continues to trade sideways within a wide range, despite last week’s disappointing Nonfarm Payrolls (NFP) report for the U.S. economy. Even though the jobs data was weak, gold failed to break a new high, indicating that investors may have anticipated the report. Key market focus is now shifting towards Trump’s trade policies & inflation rather than employment data alone.
👉 After the news release, gold reacted briefly but lacked strong bullish momentum, continuing to trade around $2,910 before closing the week at this level.
📉 TECHNICAL ANALYSIS – KEY PRICE LEVELS
🔹 Resistance Levels to Watch:
$2,929: Immediate resistance; breaking this level could confirm bullish momentum.
$2,943 - $2,954: Major resistance; a breakout here could push gold towards $2,970+.
🔻 Support Levels to Watch:
$2,884: Closest support; breaking this could open the door for further downside.
$2,872 - $2,859: Strong support zone where buyers may step in.
$2,840: A critical level, especially if the upcoming CPI & PPI reports strengthen the USD.
📊 KEY EVENTS IMPACTING GOLD THIS WEEK
📅 CPI & PPI – The Major Catalysts Ahead
💡 Expectations:
If CPI and PPI come in higher than expected ➜ USD strengthens, and gold may correct lower.
If CPI and PPI are weaker ➜ USD weakens, and gold could break resistance to continue its uptrend.
⚠️ Key Technical Clues to Watch:
Gold needs to break out of the $2,926 - $2,896 range to confirm a trend direction.
Resistance at $2,926 - $2,928 is still holding, which doesn’t favor BUY setups yet.
If gold drops below $2,896 - $2,884, the likelihood of a deeper correction increases.
🎯 TRADING PLAN
🔵 BUY ZONE: $2,874 - $2,872
📍 SL: $2,868
🎯 TP: $2,878 - $2,882 - $2,886 - $2,890 - $2,900
🔴 SELL ZONE: $2,944 - $2,946
📍 SL: $2,950
🎯 TP: $2,940 - $2,935 - $2,930 - $2,926 - $2,922
⚡ CONCLUSION
📌 Wait for price reaction at key levels before making trading decisions.
📌 Focus on the $2,926 - $2,896 range to determine the main trend.
📌 Strictly follow TP/SL to protect your account and maximize profit!
💬 What’s your take? Will gold break higher or correct deeper? Drop your thoughts below! 🚀🔥
🔥 GOLD REMAINS IN A RANGE – BREAKOUT OR CORRECTION AHEAD? 🔥
📌 Market Overview
Gold continues to trade sideways within a wide range, despite last week’s disappointing Nonfarm Payrolls (NFP) report for the U.S. economy. Even though the jobs data was weak, gold failed to break a new high, indicating that investors may have anticipated the report. Key market focus is now shifting towards Trump’s trade policies & inflation rather than employment data alone.
👉 After the news release, gold reacted briefly but lacked strong bullish momentum, continuing to trade around $2,910 before closing the week at this level.
📉 TECHNICAL ANALYSIS – KEY PRICE LEVELS
🔹 Resistance Levels to Watch:
$2,929: Immediate resistance; breaking this level could confirm bullish momentum.
$2,943 - $2,954: Major resistance; a breakout here could push gold towards $2,970+.
🔻 Support Levels to Watch:
$2,884: Closest support; breaking this could open the door for further downside.
$2,872 - $2,859: Strong support zone where buyers may step in.
$2,840: A critical level, especially if the upcoming CPI & PPI reports strengthen the USD.
📊 KEY EVENTS IMPACTING GOLD THIS WEEK
📅 CPI & PPI – The Major Catalysts Ahead
💡 Expectations:
If CPI and PPI come in higher than expected ➜ USD strengthens, and gold may correct lower.
If CPI and PPI are weaker ➜ USD weakens, and gold could break resistance to continue its uptrend.
⚠️ Key Technical Clues to Watch:
Gold needs to break out of the $2,926 - $2,896 range to confirm a trend direction.
Resistance at $2,926 - $2,928 is still holding, which doesn’t favor BUY setups yet.
If gold drops below $2,896 - $2,884, the likelihood of a deeper correction increases.
🎯 TRADING PLAN
🔵 BUY ZONE: $2,874 - $2,872
📍 SL: $2,868
🎯 TP: $2,878 - $2,882 - $2,886 - $2,890 - $2,900
🔴 SELL ZONE: $2,944 - $2,946
📍 SL: $2,950
🎯 TP: $2,940 - $2,935 - $2,930 - $2,926 - $2,922
⚡ CONCLUSION
📌 Wait for price reaction at key levels before making trading decisions.
📌 Focus on the $2,926 - $2,896 range to determine the main trend.
📌 Strictly follow TP/SL to protect your account and maximize profit!
💬 What’s your take? Will gold break higher or correct deeper? Drop your thoughts below! 🚀🔥
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.
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.