Gold (XAU/USD) Daily Trading Plan - 28th July 2025🔺 Technical Analysis
Gold started the Asian trading week with a small pullback, testing the 0.382 Fibonacci Retracement level. However, it quickly bounced back strongly to last week's closing price, which was around 3339. This movement confirms the price action from a technical point of view.
Importantly, gold has broken above a minor resistance on the M15 timeframe. This cancels out the previous bearish pattern and has formed a strong H1 candle. This indicates that a potential corrective uptrend might begin now.
On the Daily timeframe, the initial dip in the session retested the bullish trendline and bounced back within the boundaries of the flag pattern. It is likely that this week, the price will continue moving towards the end of this pattern, which will give a clearer confirmation of the medium-term trend.
🔺 Key Macroeconomic News
This week is expected to be quite volatile due to several important economic announcements, especially as it's the end of one month and the start of a new one. Traders should pay close attention to two key events:
FOMC Interest Rate Decision: This is always a major focus for the market and has a big impact on safe-haven assets like gold.
Non-Farm Payroll (NFP) Report: This is crucial US labour market data, and it can cause significant movements in both the US Dollar (USD) and gold.
Therefore, be ready for possible market shocks and make sure to manage your risks carefully.
📈 Trading Strategy & Considerations
Considering the current technical setup and the upcoming macroeconomic events, here are some points to keep in mind:
Possible Corrective Uptrend: The cancelled bearish pattern on M15 and the strong H1 candle suggest a short-term bullish bias for a corrective move.
Daily Flag Pattern: Keep an eye on how the price behaves as it approaches the end of the flag pattern on the Daily timeframe. This will help confirm the medium-term trend.
High Volatility Expected: Be extremely cautious around the FOMC and NFP announcements. These events can lead to large and quick price changes.
Risk Management: It's very important to manage your risks strictly. Consider reducing your position sizes or using wider stop-losses during high-impact news events.
Disclaimer: This analysis is only for information purposes and should not be considered financial advice. Trading involves significant risk, and you should only trade with money you can afford to lose.
Long