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Xauusd(w)

XAU/USD (Gold vs. US Dollar) on the 1-hour timeframeKey Observations: Bullish Engulfing Pattern – A strong reversal signal suggesting upward momentum. Ascending Trendline + Support Level – Price respects the trendline, reinforcing bullish bias. Entry Confirmation – The breakout above consolidation inside the triangle. Target Prices: Target Price 1: First resistance level. Target Price 2: Day’s high at $2,928.78. Stop Loss: Set below the trendline and support at $2,901.60.
FOREXCOM:XAUUSDLong
by kripsonfx97
Gold : Another if this and then that scenario The current price is near the Daily Open and below the Previous Week High , suggesting a potential rejection zone where supply might dominate. The recent pullback (as shown by the red arrow) indicates that smart money may be ready for another liquidity grab or correction to test lower demand zones. A bearish reversal from the current level could form, Price is likely to target the Previous Week Low. After testing lower area as per red arrow, I expect a bounce back up, so I’d watch for a bullish candle—like a hammer or engulfing pattern in lower side and price can recover as per the green arrow (We have to wait for low confirmation )
OANDA:XAUUSD
by TheGoldenCircle
GOLD - BROKEN OUT 2881 RESISTANCE, BULLS ARE IN CONTROLSymbol - XAUUSD Gold has surpassed the downtrend resistance and is consolidating above the critical resistance level of 2881. A pre-breakdown consolidation is forming near 2894, signaling the potential for upward movement amidst a dollar correction. Trump has confirmed the imposition of new tariffs on Canada, Mexico, and China, which has led to retaliatory actions and heightened concerns regarding the risk of a U.S. recession. The decline in PMI and the Atlanta Fed's GDP forecast contributed to a sell-off on Wall Street, which, in turn, increased demand for gold as a safe-haven asset. Geopolitical tensions remain high as Trump announced the suspension of military aid to Ukraine, leading to dissatisfaction within Europe. Market participants are closely monitoring the upcoming U.S. employment data, which will likely influence Federal Reserve policy and the dollar exchange rate. The price has breached the 2881 resistance level, which had previously acted as a dividing line in the market. A pre-breakdown consolidation is currently forming around the 2895 level. A break above this resistance, coupled with price consolidation above 2895, may further reinforce the upward trend. Resistance levels: 2895, 2921, 2929 Support levels: 2885, 2876, 2859 The primary objective for bulls is to maintain support above the 2885 - 2895 range. Given the increasing economic risks and the weakening dollar, gold is well-positioned for continued growth following the shift in the local trend. In this scenario, potential targets are 2915, 2921, and 2929
OANDA:XAUUSDLong
by akshit_official
XAU#21: Gold is soaring. Will it break the top and trading plan💎 💎 💎 The "bulls" are back as analyzed in the previous article. The price OANDA:XAUUSD has passed the trendline and there is no sign of stopping. Let's plan the next trading FOREXCOM:XAUUSD : 💎 💎 💎 1️⃣ **Fundamental analysis:** 📊Warning of short-term inflation shock: The market is pricing in the US CPI to remain around 3% for the next 7 months, reflecting a sudden increase in inflation. The 25% tax on imports from Canada and Mexico could increase consumer costs, putting pressure on inflation. 🚀Unstable context: US tariffs, war in Ukraine, inflationary pressure ... are causing concerns about an economic recession. This has pushed the gold price up again in the past 2 days. 2️⃣ **Technical analysis:** 🔹 **D frame**: The bullish price structure is still continuing, however, in my personal opinion, this increase is not sustainable. 🔹 **H4 frame**: The key down zone was broken last week and the price has returned to the resistance zone. The price reaction in this area is currently not positive. The bulls are still dominating as the previous H4 was a long-bodied candle. 🔹 **H1 frame**: The current price structure is bullish and there are no signs of a reversal. 3️⃣ **Trading plan:* ⛔ Although the price is in the resistance zone, the price reaction is weak enough to set up a SELL order. Currently, the fundamental information and short-term price structure are supporting the bulls. However, it should be noted that if the price increases continuously without recovering and breaks the peak once again, we will likely have a correction phase. ✅ BUY positions in the lower area can completely wait for better profits. In addition, when the price finds the support zones below, we can completely wait for the opportunity to establish the next position when the price structure appears in the smaller time frame. Note that 💪 **Wishing you success in achieving profits!**
OANDA:XAUUSD
by TonyL0ng
WILL THE BULLISH MOMENTUM CONTINUE TODAY?GOLD REVERSING FROM A STRONG DROP – WILL THE BULLISH MOMENTUM CONTINUE TODAY? Gold experienced a highly volatile session, retracing to fill the GAP and provide liquidity for the lost price data area before rebounding in line with its primary trend. After a sharp drop, BUY momentum gradually returned, closing the daily candle with strong bullish pressure. Although the ISM Manufacturing PMI data came out positive, it had little impact on the price as market sentiment is currently focused on the new US tariff policies, which could add further pressure on safe-haven assets. So, will Gold continue its upward momentum today, or is this just a technical correction before further downside? 📉📈 Let's track the key price levels for a well-planned strategy! 🚀 ⚡️ KEY PRICE LEVELS TODAY 📌 Resistance: 2892 - 2906 - 2916 - 2930 📌 Support: 2880 - 2872 - 2858 - 2845 - 2835 💎 TRADE SETUP 🔹 BUY ZONE: 2846 - 2844 🎯 TP: 2850 - 2854 - 2858 - 2864 - 2870 ⛔️ SL: 2840 🔹 SELL ZONE: 2915 - 2917 🎯 TP: 2910 - 2905 - 2900 - 2896 - 2892 ⛔️ SL: 2921 ⏳ With no major news releases today, the expected price range is 30 - 35 prices. Stick to TP/SL to protect your account! 🚀💰
OANDA:XAUUSDLong
by MMFlowTrading
1
GOLD - DOWNTREND PERSISTS, PRICE UNDER BEARISH PRESSURESymbol - XAUUSD CMP - 2870 Gold has been on an upward trajectory since Friday, a typical response following the false breakdown of support at 2834. The price remains within a selling zone and is expected to approach resistance levels before potentially experiencing a pullback to the downside. The US dollar has gained significantly over the past week and appears to be positioned for further strength. However, its trajectory remains contingent upon the ongoing tariff dispute, economic risks, and regulatory policies within the United States. Market reactions are also being influenced by efforts to address the conflict in Eastern Europe. Key developments to watch include upcoming statements from the Federal Reserve and the release of US economic data. On the 4-hour chart, Gold is trading within a narrow range between 2881 and 2834. Should the price fall below 2881, gold will remain under bearish/selling pressure. However, the liquidity in the 2878 - 2881 region suggests that gold may test this area of interest before resuming its downward movement. Key resistance levels: 2869, 2877, 2881 Key support levels: 2859, 2834 Currently, consolidation is taking place below the 2869 level (0.5 Fibonacci retracement) following a false breakdown. If bearish momentum prevails and price remains below this level, a decline may occur sooner. Another potential trigger is the 2859 support level - If this level is breached, a sell-off and liquidation could ensue, potentially driving prices down to 2834 On the other hand, buying can be considered if gold overcomes the 2878 - 2881 zone and is able to consolidate above this area. In this case, the price will confirm the break of the trend and strong resistance. At the moment, while gold is inside this range, we can consider an intra-range trading strategy.
OANDA:XAUUSDShort
by akshit_official
1H Buy Projection for XAUUSD (Gold/USD) on March 4, 20251H Buy Projection for XAUUSD (Gold/USD) on March 4, 2025. It highlights a bullish setup based on a V-shaped reversal pattern. Key Observations: Bullish Signals: V-Pattern Formation: Indicates strong buying pressure and a potential trend reversal. Uptrend Line: Price is following a bullish structure. Buying Zone: Identified around 2,885 - 2,891. Support & Resistance: Support S1: Strong demand zone where price bounced. Resistance R1: Around 2,900, first major hurdle. Resistance R2: 2,919, higher resistance level and second target. Trade Setup: Entry (Buying Zone): Around 2,885 - 2,891. Stop Loss: Placed at 2,879.35 (below key support). Target Price 1: Around 2,905. Target Price 2: Around 2,919. Possible Trade Strategy: Buy near the buying zone (2,885 - 2,891). Stop Loss below 2,879 to manage risk. Take Profits at 2,905 (first target) and 2,919 (second target). Risk & Considerations: If price fails to hold above the buying zone, a break below 2,879 may invalidate the bullish setup. Price may face resistance near 2,900 before moving higher.
FOREXCOM:XAUUSDLong
by kripsonfx97
GOLD chart analysis for Monday session 15M TFGold (XAUUSD) price closed at 2857 level in the last session after studying it in all time frame we've figured out some level's of it 2863 - 2868 is the nearest resistance zone and after that next resistance zone is 2877 - 2882 and 2853 is the nearest support level and after that next support is 2832.59 we will go simple here this time look for reversal or continuos pattern on the zones and level's and make trade placement according to them i'll follow my signal generation and trend direction indicator to place my trade , and here i've told you the levels which should work very well , be focused on candlestick pattern to get the best trade's.
FXOPEN:XAUUSD
by NobleFalcon
1
XAUUSD WEEKLY SELL PROJECTION 03.03.25Bearish Signals: Bearish Engulfing at the Top: This pattern often signals a potential reversal. Evening Star Formation: A strong bearish reversal pattern. Bearish Spinning Top: Indicates indecision but leans toward bearish sentiment. Support & Resistance Levels: Immediate Resistance: Around 2,885 - 2,904. Immediate Support: Around 2,857. Target Price 1: Approximately 2,840. Target Price 2: Around 2,784 - 2,783 (Major Support). Trend Analysis: Broken Uptrend Line: A possible retest of the broken trendline before further downside. Rising Wedge Pattern: This is typically a bearish continuation pattern, confirming downside potential. Trade Setup: Possible Short Position: Entry near 2,885 - 2,900, stop loss at 2,922. Target Levels: First at 2,840, second at 2,784.
OANDA:XAUUSDShort
by kripsonfx97
GOLD FACES KEY RESISTANCE AFTER LAST WEEK'S STRONG DROP🔥 After reaching ATH early last week, Gold saw a significant correction, dropping to 283x before bouncing back from the strong support zone at 2833 - 2835. By the end of the week, Gold retested this level, surging 20 points and closing the weekly and monthly candle at 2857 – a solid position for the BUY side. 🟢 TODAY’S SESSION – GAP OPEN & CURRENT VIEW At the Sydney & Tokyo open, Gold continued to benefit from last week’s BUY momentum, creating a 15-point GAP and reaching 2870. So far in the Asian session, it has peaked at 2877. 👉 CURRENT VIEW: Gold is likely to drop back to fill the GAP (low liquidity) around 2854 - 2850 before continuing its upward movement. The price is currently reacting in line with this expectation. ⚡️ KEY LEVELS TO WATCH TODAY 📌 Resistance: 2884 - 2895 - 2900 - 2905 📌 Support: 2856 - 2850 - 2845 - 2835 💎 TRADE SETUPS FOR TODAY 🔹 BUY ZONE: 2835 - 2833 🎯 TP: 2840 - 2844 - 2848 - 2854 - 2860 ⛔️ SL: 2830 🔹 SELL ZONE: 2904 - 2906 🎯 TP: 2900 - 2896 - 2892 - 2886 - 2880 ⛔️ SL: 2910 📢 IMPORTANT NOTES 📆 Today marks the start of a new week and month, so it's crucial to closely monitor price reactions. Key economic reports like ADP and NFP are scheduled this week, so risk management is essential. Stick to TP/SL levels to protect your account!
OANDA:XAUUSDShort
by MMFlowTrading
2
Gold Technical Roadmap: From Correction to RecoveryCurrent Price Action The price has formed a clear downtrend over the recent sessions, breaking below a previous uptrend line (marked in green) There's notable selling pressure as price has dropped from recent peaks and is showing a bearish momentum(In line with my last post on gold). Short-Term Outlook (Within Current week): I am expecting potential bottoming formation may be developing. The recent sell-off appears to be approaching key support levels, with S1 at 2,808.47or S2 at 2758 likely to provide initial support. Watch second curved arrows on the chart an expected bounce from this region. We have to Consider that oversold conditions might develop soon if the downtrend continues and then we have to watch for bullish reversal patterns near support levels as mentioned above. Mid-Term Outlook (2-6 weeks) Initial drop (Ongoing ) Potential bounce to Pivot (2882-2,900) resistance Possible second test of support (S1 or S2) After Low ,If successful, a stronger move toward previous week highs (2,960) and potentially R2 (3000) Overall View is still bullish and we have to wait for confirmation from low to add in current running buy trades as mentioned in previous analysis.
OANDA:XAUUSDLong
by TheGoldenCircle
1
GOLD - FALSE BREAKDOWN & PULLBACK BEFORE FURTHER FALLSymbol - XAUUSD Gold is currently revisiting recent lows within the context of a shifting local trend. The price is testing the 2852 liquidity zone, with the potential for a rebound before continuing its downward movement. On Friday, gold traded near its two-week lows, falling below the 2900 mark in Asian markets, ending an eight-week streak of gains. The precious metal is facing downward pressure due to a strengthening U.S. dollar, fueled by President Trump’s renewed tariff threats and developments in the U.S. economy. Trump has confirmed a 25% tariff on goods from Mexico and Canada, effective March 4, along with an additional 10% tariff on Chinese imports. Meanwhile, weaker-than-expected U.S. GDP data 2.3% for Q4 and rising jobless claims further bolster the U.S. dollar. Market participants are awaiting the release of the PCE core price index to assess the Federal Reserve’s potential monetary policy actions and their implications for gold prices. Resistance levels: 2869, 2877, 2885 Support levels: 2852, 2834 A false break at the 2852 support level could lead to a short-term rebound towards the imbalance zone 2869-2877 or the liquidity zone 2885 before a continuation of the downward trend. Both the fundamental and technical outlook remain weak, suggesting that gold may attempt to test and potentially break through the recent lows.
OANDA:XAUUSDShort
by akshit_official
Gold Trading Strategy for 03rd March 2025📈 Gold Trade Setup 📉 💰 Entry Strategy: 🔼 Buy Above: The high of the 1-hour candle that closes above 2864 🎯 Targets: 2871 | 2886 | 2899 🔽 Sell Below: The low of the 15-minute candle that closes below 2832 🎯 Targets: 2826 | 2813 | 2801 📊 Trade Explanation: Why wait for a close? A 1-hour candle closing above 2864 confirms bullish strength, reducing false breakouts. A 15-minute candle closing below 2832 helps identify early bearish momentum. This method improves accuracy by ensuring price sustains its breakout direction rather than just wicking above or below levels. Combine with indicators like RSI, MACD, or Moving Averages for added confirmation. ⚠️ Disclaimer: This trade setup is for educational purposes only and should not be considered financial advice. Trading involves risk, and you should do your own research or consult a financial advisor before making any investment decisions. 🚀📉
TVC:GOLD
by ramkkyy
XAU#20:Gold plunges sharply,but will the“Bull Market"end easily? 💎 💎 In the previous article, the clear divergence in the H1 frame was confirmed by a correction of Gold. Now we will come up with the next plan: 💎 💎 💎 1️⃣ **Fundamental analysis:** 📊The main reasons for the decline of gold: profit taking by investors, a stronger USD and unsurprising US inflation data, which has curbed expectations of the Fed cutting interest rates. 🔹The Russia-Ukraine war is nearing its end as the final agreements are being negotiated. 🚀If there is a situation of high inflation but a weak economy (stagflation), gold prices may continue to rise sharply. 📌Some experts believe that gold prices are about 15% higher than fair value, but new factors such as central bank gold purchases and strong demand from China can still push prices to continue to rise. 2️⃣ **Technical analysis:** 🔹 **D frame**: 4 consecutive days of decline of about 120 USD, but looking at the overall price structure of gold, it is still stable. This correction with the goal of retesting the support zone below 🔹 **H4 frame**: The price structure has been broken. However, to get down to the support zone below, if there is no unexpected news, we still need a recovery to gain momentum. The pinbar at the end of the 6th session and the subsequent increase are supporting this option. 🔹 **H1 frame**: The price structure is very clear. The recovery at the end of the 6th session is the profit-taking action of the sell position forming a weekly candlestick wick. 3️⃣ **Trading plan:* ⛔ Currently the price structure is still decreasing. We should not trade against the trend at this time. Especially at this time, information about reaching an agreement on the Russia-Ukraine war can appear at any time ✅ Waiting for the price to reach important resistance zones to trade in line with the trend is the top priority. This is also the profit-taking area for the case where we establish a position when the price line confirms a recovery with the price structure. 💪 **Wishing you success in achieving profits!**
OANDA:XAUUSD
by TonyL0ng
GOLD Trade Idea (Zones) for Friday session of 28-02-25We've got some level's to watch out for this instruments to trade on friday 2881.04 - 2882.55 is the minor Resistance zone highlighted as orange zone in the chart if price goes beyond this and sustained then it will go to it's next resistance zone which is 2889 - 2895 this resistance zone can push price to downward direction look for reversal pattern at this zone and put SL above this zone minor resistance can also cause price to go downward so look for reversal signs to short it minor support level of gold is 2867 - 2868 from here it can for some swing if this price breaked then we can get 2860 - 2854 level , so watch it carefully for the good trade.
FXOPEN:XAUUSD
by NobleFalcon
GOLD - BULLISH STRUCTURE SHAKING - WHAT'S NEXT?Symbol - XAUUSD CMP - 2910 Gold has transitioned from a locally bullish trend to a neutral, sideways market. Despite this shift, bullish forces continue to defend key support levels. What can we anticipate for the precious metal in the near term? Investor sentiment has gravitated back toward safe-haven assets amid concerns surrounding President Trump's tariff policies and disappointing U.S. economic data. On Tuesday, gold experienced a pullback from its record high of $2,956 due to profit-taking and a decline in Chinese imports. However, a weaker-than-expected U.S. consumer confidence index facilitated a recovery in gold prices. The upward movement in gold is currently constrained by a strengthening U.S. dollar and rising bond yields, but ongoing trade war concerns continue to fuel demand for the metal. Key resistance levels: 2921, 2929, 2942 Key support levels: 2905, 2888 As a result, gold is likely to remain within a sideways trading range. There is potential for a short-term decline to retest support in the 2905-2888 range before resuming upward movement. Alternatively, a breakout above resistance levels could signal further gains. If the bulls manage to sustain trading above the 2921-2929 zone, the metal could resume its upward trajectory.
OANDA:XAUUSDLong
by akshit_official
GOLD - BREAKDOWN OF RISK ZONE 2880 MAY TRIGGER TREND CHANGESymbol - XAUUSD Gold is deviating from its recent trend and is now testing the panic and risk zone at 2880 as part of a corrective phase. A retest of this level would increase the likelihood of a potential trend reversal. The recent loss in gold's upward momentum can be attributed to the uncertainty surrounding President Trump's tariff plans and ongoing economic challenges in the United States. Conflicting statements from the president are providing support for the dollar, while rising bond yields are exerting downward pressure on gold prices. Market participants are closely monitoring the upcoming US GDP data. Should the results fall short of the forecasted 2.3% there is potential for gold to appreciate. Additionally, speeches from Federal Reserve officials will be crucial, but the key factor remains President Trump's remarks, which could significantly influence market sentiment. From a technical standpoint, the market structure is currently bearish, suggesting that a continuation of the decline is likely after a brief corrective phase. Support levels: 2878, 2888 Resistance levels: 2890, 2907 A false breakdown of the aforementioned support levels, following a significant decline, could lead to a correction. Initially, the price may move toward the 0.5 Fibonacci retracement level, and after a brief pullback, the 0.7 Fibonacci level could be tested. However, market participants should closely observe the price action at these levels. If gold continues its downward movement, attention will be focused on the 2880 level. Conversely, if the price struggles to move lower and begins testing resistance, there is a possibility that, amidst heightened risks, the market could shift back into a growth phase.
OANDA:XAUUSDShort
by akshit_official
XAUUSD TRADE Idea for Thursday and Friday Session'sGold seems like some Range bound and little confusing but looking at each different TF we've got some levels for it to get trades near minor support is 2911 if it breaks then next major support zone is 2906 - 2909 may be we can see some ranging market from these level but if it breaks then next level's we can see is 2890 alternative scenario is if price goes upward then 2918 - 2920 is resistance if price crossed this level and sustained then it will go 2930 - 2933 level easily but also look for reversal patterns at these level it can work good in this instrument, all level's and zone plotted in the chart from there you can grab it .
FXOPEN:XAUUSD
by NobleFalcon
GOLD Ready for the Next Leg? Watch This Breakout!Gold has been in a strong uptrend , and the bulls are still in control. Right now, the price is respecting a trendline support on the hourly chart and is forming a Cup & Handle pattern . This is a classic bullish continuation pattern , which indicates that buyers are getting ready for the next move. The key level to watch? The neckline zone ! A breakout from here could push the price higher, with the next major target sitting at 2986.500 . Keep an eye on this setup—if the breakout happens with momentum, we might see a strong rally! 🚀
OANDA:XAUUSDLong
by khanrafat20
XAU#19: Gold's rally slows down, what's the reason?OANDA:XAUUSD demand soars but price growth slows down, risk of correction increases. However, let's look at the fundamentals and price structure to plan for FX:XAUUSD next move: 1️⃣ **Fundamental analysis:** 📊 The decline of the USD is an important sign ahead: 🔹European politics and impact on the USD: German elections could strengthen the EUR, putting more pressure on the USD 🔹USD faces downward pressure: The factors that caused the USD to plummet in 2017 (trade policy, global growth, European politics) could recur in 2025, threatening the strength of the greenback. 🔹Trump Tariffs: Lower-than-expected tariffs have limited the USD's gains, but investors remain concerned about upcoming trade policy. 🚀India's gold imports in February are expected to fall 85% year-on-year to a 20-year low as record bullion prices dampened demand. '' 📌 We have seen the first signs of market sentiment that gold prices are already too high. However, in the game of buying and selling, increasing demand while lacking supply is always the driving force for prices to rise further. 2️⃣ **Technical Analysis:** 🔹 **Frame D**: Yesterday was a pinbar that was forecast to be a strong driver for gold's price increase. However, today's price action shows the opposite. The decline is not over yet. 🔹 **H4 Frame**: The price has been SW at the peak for too long without a breakout. Although the price structure is still increasing, the current support area is showing a weak price reaction. 🔹 **H1 Frame**: As you can see the clear divergence on the MACD indicator. It is highly likely that we will have a slight correction to the support area below 3️⃣ **Trading plan:* ⛔ In the current area, we do not have a clear confirmation, whether BUY or SELL at this time is high risk. Currently, we should not FOMO if there is no clear confirmation from the price structure. ✅ Waiting for the price structure to be broken and then looking for a position when the price rebounds is a wise choice at this time. Or we can simply wait for the price reaction when it reaches the support zones below to trade in accordance with the main trend 💪 **Wishing you success in making profits!**
OANDA:XAUUSD
by TonyL0ng
Gold Trading Strategy for 24th Feb 2025📊 GOLD INTRADAY TRADING PLAN 📊 📌 Strategy: This plan is based on the breakout of a significant level after a confirmed 1-hour candle close. 🟢 Buy Setup (Bullish Breakout) 🔹 Entry Condition: Enter a buy position above the high of the 1-hour candle that closes above 2945. 🔹 Targets: 🎯 First Target: 2954 🎯 Second Target: 2962 🎯 Third Target: 2970 🎯 Final Target: 2981 🔹 Stop Loss: Below the low of the entry candle. 🔹 Risk Management: Ensure proper lot sizing based on your risk appetite. 🔴 Sell Setup (Bearish Breakdown) 🔹 Entry Condition: Enter a sell position below the low of the 1-hour candle that closes below 2916. 🔹 Targets: 🎯 First Target: 2908 🎯 Second Target: 2900 🎯 Third Target: 2888 🎯 Final Target: 2878 🔹 Stop Loss: Above the high of the entry candle. 🔹 Risk Management: Follow strict position sizing and risk-reward ratio. ⚠ Important Notes: 📌 Confirmation is key – Wait for a full 1-hour candle close before entering a trade. 📌 Avoid trading during high-impact news events as they may cause sudden volatility. 📌 Use a trailing stop-loss to maximize profits in a strong trend. 🚨 Disclaimer: This analysis is for educational purposes only and should not be considered as financial advice. Trading in financial markets involves significant risk, and past performance is not indicative of future results. Always trade with proper risk management and consult with a financial expert before making trading decisions. 📉📈
TVC:GOLD
by ramkkyy
2
GOLD - RETEST OF TREND SUPPORT BEFORE DATA & NEWS FLOWSymbol - XAUUSD Gold is currently exhibiting a false breakdown of the lower boundary of its consolidation range and the support for its uptrend within the ongoing correction. Traders are awaiting the release of the S&P Global PMI indices in the United States. The price of gold has retreated from its record high of $2955, yet it still maintains the potential for further upward momentum. The recent decline can be attributed to profit-taking as market participants prepare for the upcoming release of the S&P Global PMI indices in the U.S. The PMI data may influence market expectations regarding potential interest rate cuts by the Federal Reserve. However, any potential price decline driven by strong PMI results could be short-lived, particularly if President Trump's new tariff proposals reignite demand for safe-haven assets. Although gold may continue to experience correction, any downward movement is likely to be perceived as a near-term buying opportunity. Key resistance levels: 2933, 2939, 2946, 2955 Key support levels: 2924, trend support A false breakdown of the uptrend support is in progress. If the bulls manage to defend the key support area, gold may continue its ascent in the short to medium term. However, the short-term outlook is contingent on upcoming news.
OANDA:XAUUSDLong
by akshit_official