GOLD IN A WAIT-AND-SEE MODE – IS A BIG BREAKOUT COMING?📌 Market Overview
Gold is showing weak momentum at the start of the new trading week after a sharp decline from last week's high. This suggests that investors are still waiting for clearer signals before committing to a direction within the current price channel.
This week, market participants will closely watch the Federal Reserve’s FOMC meeting, where key decisions regarding interest rate policies will be made based on last week’s inflation reports.
Meanwhile, geopolitical tensions are rising after Trump’s recent airstrikes on Iran-backed Houthi forces. However, despite this significant event, gold has yet to show a strong bullish reaction. This raises the need for further confirmation before defining the next major trend.
📊 Key Levels to Watch
🔹 Support Levels: 2982 - 2976 - 2966 - 2948
🔹 Resistance Levels: 2994 - 3004 - 3015 - 3034
🎯 Trade Setups for Today
🟢 BUY ZONE: 2975 - 2973
📍 SL: 2970
🎯 TP: 2980 - 2984 - 2988 - 2992 - 2998
🔴 SELL ZONE: 3033 - 3035
📍 SL: 3038
🎯 TP: 3030 - 3025 - 3020 - 3016 - 3010
⚠ Caution Ahead! Possible Breakout Incoming!
Gold has been trading within a narrow range since last week, and a strong breakout is highly likely during the late Asian or early European session. Traders should be prepared for high volatility and ensure proper risk management. Stick to TP/SL levels to protect your capital!
📢 What’s your outlook on Gold this week? Will it break higher or continue its correction? Drop your thoughts below! 🚀🔥
