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XAUUSD – Gold accelerates: Is the 3,600 target within reach?Gold has made an impressive rally of nearly 720 pips, surging from the recent bottom near 3,260 up to 3,365, following a deeply disappointing U.S. jobs report. Non-Farm Payrolls came in at just 106K, far below expectations, while the unemployment rate climbed to 4.2% — a clear sign that the U.S. economy is slowing down. In this context, the expectation that the Fed will pause rate hikes has become more solid, paving the way for gold to break higher. Technical analysis on the D1 timeframe shows that XAUUSD remains in a well-established ascending channel that has persisted since late 2024. The recent bounce from the 3,260 support zone was strong, with yesterday's bullish candle confirming that buyers are regaining control. As long as price holds above the 3,260 support area, the next target lies at the psychological resistance around 3,500, and beyond that — the ambitious 3,600 mark.
OANDA:XAUUSDLong
by Rocky_trade_
2
Weekly Analysis for XAUUSD (Gold Spot) on the 4H chartKey Resistance Levels (Upside Watch): Major Supply & FVG Zone: 3,402.54 – 3,419.46 * This is a high-probability reversal zone, formed by: - 0.786 & 0.886 Fibonacci Retracement - Fair Value Gap (FVG) - Previous Supply Zone - Look for signs of exhaustion or reversal patterns in this zone (e.g., bearish engulfing, pin bars). Strong Overhead Resistances: * 3,438.74 - 3,451.95 Only if price breaks and sustains above the FVG zone, these levels may come into play. Support Levels (Downside Watch): Intraday Pivot Zone: 3,354.15 – 0.5 Fibonacci retracement Acting as a current intraday support Swing Support / Targets: TGT1: 3,268.50 – Horizontal structure support TGT2: 3,244.20 – Previous demand zone & swing low Thanks Regards Bull Man
OANDA:XAUUSD
by bullmanacademy
Gold (XAU/USD) in Symmetrical Triangle – Short‑Term Squeeze,Price Structure & Technical Setup Gold is consolidating within a symmetrical triangle, showing lower highs and higher lows—a classic precursor to breakout in either direction Fxglory Ltd +5 TradingView +5 Babypips.com +5 TradingView +2 Babypips.com +2 TradingView +2 . Trendlines converge tightly around $3,326–$3,334, hinting at imminent directional acceleration Investopedia +4 TradingView +4 TradingView +4 . 🎯 Key Levels & Targets Scenario Trigger Confirm Area Targets Stop Loss Bullish Breakout above $3,344–$3,350 $3,369 → $3,396 → $3,422–$3,550 ~$3,340 Bearish Breakdown below ~$3,326–$3,320 $3,320 → $3,300 → $3,297 → $3,255 ~$3,335–$3,340 A breakout above $3,344–$3,350 validated with volume may drive prices toward $3,400+, with extended targets up to $3,550 or higher in bullish conditions Traders Union Time Price Research . A drop below $3,326–$3,320 risks further decline, targeting $3,300, $3,297, and eventually $3,255 if breakdown momentum builds . 📉 Market Context & Drivers U.S. dollar strength, easing safe-haven demand, and optimistic trade sentiment are constraining gold’s upside unless breakout forces emerge . Key upcoming catalysts: FOMC guidance, U.S. macro data (GDP, inflation), and geopolitical developments—their tone could tip the bias direction . ⚙️ Trade Rules & Risk Management Wait for a confirmed breakout or breakdown—do not trade mid-range. Confirm break with at least one close outside the triangle and rising volume . Position sizing: Risk 1–2% per trade, adjust stop-loss to price structure ($8–$15 depending on volatility). Take profits in stages: scale out at minor milestones (first targets), trail stop for extended targets. Avoid chasing price within the middle of the triangle—risk/reward is unfavorable. 🧠 Why This Plan? Follows textbook symmetrical triangle trading methodology: entry on breakout, stop beyond pattern opposite side, projection based on triangle height . Aligns with broader outlook: bearish unless convincing upside breakout appears, consistent with analyst consensus hedging current bull exhaustion and wait‑and‑see on policy signals . ✅ Summary Gold is coiling inside a tight triangle range near $3,326–$3,334, with breakout potential identified to either side: Bullish breakout over $3,344–$3,350 targets up to $3,550 or beyond. Bearish breakdown under $3,326–$3,320 risks slide towards $3,300–$3,255. Wait for confirmation, apply disciplined risk controls, and let volume validate the move.
OANDA:XAUUSD
by KingProTrader
Gold Market Analysis-Month-August 2025Gold Market Analysis-Month-August 2025 Gold has witnessed a remarkable rally, climbing from $1,800 to $3,500 without any significant corrections. This strong upward momentum has dominated the market in recent months. However, July’s monthly chart closed negatively, forming a shooting star candlestick pattern, a signal that often reflects market exhaustion or the potential for a short-term reversal. For August, market direction will depend on a break of the previous month’s range. A break above $3,450 would confirm continued bullish momentum, whereas a fall below $3,247 would indicate a bearish phase. In the long term, gold will only lose its upward momentum if it drops below $2,980. Such a decline is likely only if global economic conditions deteriorate, with recessions or significant slowdowns in most developed nations and the top 20 developing economies. In that scenario, reduced purchasing power would dampen gold demand, leading to a sustained downward pressure on prices.
FOREXCOM:XAUUSD
by ramkkyy
1
GOLD NFP Plan – Waiting for Breakout & Riding the Bullish Wave – GOLD NFP Plan – Waiting for Breakout & Riding the Bullish Wave Gold is currently trading inside a large sideways triangle pattern, with price compressing toward the apex. However, based on recent candle structure and yesterday’s reaction at the key level, there’s strong momentum building for bullish continuation—likely forming a Wave 3 breakout if price can decisively break above the current descending trendline. 🔎 Technical Breakdown: ✅ BUY ZONE: 3276 – 3274 (confluence of CP ZONE + GAP + OBS BUY from yesterday) 📈 Price already reacted with +160 PIPS profit from this zone, confirming buyer control ⛓️ Descending trendline is compressing price – a breakout above it could unleash strong bullish momentum 🔄 SELL ZONE: 3339 – 3341 marked by OBS SELL ZONE + liquidity layer 📰 Fundamental Focus: Today is Nonfarm Payrolls (NFP) day. With current forecasts pointing toward weaker-than-expected U.S. job data, the dollar could face pressure—creating the perfect scenario for gold to spike higher on BUY-side FOMO. 📌 Trade Plan: 🎯 BUY ZONE: 3276 – 3274 ❌ Stop Loss: 3270 🎯 Take Profits: 3280 – 3284 – 3290 – 3294 – 3300 – 3305 – 3310 – 3320 – 3330 – 3340 – 3350 ⚠️ SELL ZONE (counter-trend): 3339 – 3341 ❌ Stop Loss: 3345 🎯 Take Profits: 3335 – 3330 – 3325 – 3320 – 3315 – 3310 – 3305 – 3300 📌 Key Notes: Favor BUY setups in line with the trend—focus on reaction zones outlined on the chart. If NFP data is bearish for the dollar, wait for strong confluences before entering any SELL, and avoid shorting prematurely against bullish momentum.
OANDA:XAUUSDLong
by MMFlowTrading
2
Gold Price Target: 3380-3400+, Set a Trailing StopGold Price Target: 3380-3400+, Set a Trailing Stop As shown in Figure 4h: Gold finally rallied this weekend. Despite recent heavy losses for long positions, the past two days have been encouraging. We ultimately managed to successfully buy the dip in the 3280-3300 range and recover all our losses. Gold prices continue to rise, and everyone is asking if it's time to sell. Now is the critical time to exit. We must acknowledge one fact: Gold currently presents a huge opportunity. Of course, the risks are also increasing. At times like these, I always emphasize that the best approach is to set a 10-point trailing stop. Even if gold prices soar, we can move with them. This non-farm payroll data was a huge disappointment. It was a truly positive surprise for gold. The market expected 110,000 new jobs, but the result was a disappointing 73,000, a decrease of half from the previous month. The market went into a tizzy after the outperformance. But even more shocking news is yet to come: Non-farm payrolls for May and June were revised downward by a combined 258,000. This means the June gain was revised downward from 140,000 to 14,000. The May gain was abruptly revised downward from 140,000 to 19,000. The strong data of the past two months was completely false. Market followers have become the "clowns" of the Fed and Trump. Now you understand why everyone praised Powell's hawkish speech two days ago. Because Powell said: "Only if there is a severe decline in employment will we consider cutting interest rates." Just this Wednesday, some good non-farm payroll data was released. This undoubtedly gave the market a false impression. Everyone believed that a rate cut was impossible, and the probability of a September cut had dropped to 40%. However, today's poor non-farm payroll data, combined with revisions to May and June data, revealed the truth. The job market has been dismal over the past quarter. The market reacted quickly, and gold prices soared on this sentiment. My advice is to buy gold at a low price and hold on. For investors who have successfully bought in the 3280-3300 level in recent days, I recommend setting a 10-15 pip trailing stop-loss. Gold prices are likely to continue their upward trend next Monday. Our next target is above 3380-3400 points.
OANDA:XAUUSD
by Louisa-2025
Gold Breakout Watch: Will XAUUSD Surge to $3760?Gold (XAUUSD) has spent the last few weeks coiling within a tight consolidation range, but the wait may soon be over. The daily chart shows a textbook rectangle formation, a powerful pattern that often precedes significant trend continuation. With prices currently pushing toward the upper resistance of this range, a bullish breakout could be imminent—and potentially explosive. Let’s dive deep into the technical setup, the potential breakout targets, and what levels traders should be watching right now. 📉 The Pattern: Channel Consolidation Since late May 2025, gold has been trapped in a sideways structure defined by: Resistance Zone: $3,600 – $3,620 Support Zone: $3,270 – $3,290 This structure has formed after a massive prior rally earlier in the year, making it a classic bullish continuation pattern. Each pullback into support has been met with buying, while resistance has repeatedly held—but now momentum is building. Technically, this consolidation has validated itself with multiple swing points at both the upper and lower boundaries. The pattern is clean, well-respected, and supported by repeated reactions at both support and resistance levels. If the price breaks and sustains above the $3,620 resistance area, the pattern will be considered complete, signaling continuation of the prior bullish trend. While volume analysis isn't included in the chart, typically such breakouts are supported by increased participation, which can offer added confirmation. If a breakout occurs, traders can target multiple price levels based on the height of the rectangle added to the breakout point. The first logical target would be around $3,616, followed by a swing-based target at $3,762. These levels are based on technical projection methods using the measured move technique. Importantly, price has already reached a reversal confirmation target around $3,430, which further validates bullish strength. However, no setup is complete without acknowledging the risks. If gold fails to sustain the recent rally and instead breaks below $3,280 support, the current setup would be invalidated. This would shift the outlook to bearish and could push prices toward $3,200, $3,120, and possibly even lower toward the psychological support at $3,000. From a trading perspective, the ideal bullish entry would be on a daily candle close above $3,620 or on a retest of the breakout zone with strong buying confirmation. A protective stop loss can be placed below the breakout candle or around the $3,550 area. Initial targets remain $3,616 and $3,762. In the bearish case, a breakdown below $3,280 would be a cue for shorting opportunities with stops above $3,300 and downside targets at $3,200 and $3,120. In summary, gold is at a critical point on the chart. The current structure suggests a potential breakout is coming, and traders should be ready to act based on confirmed moves beyond key levels. Whether this pattern leads to a strong bullish continuation or a failed setup, the movement is expected to be sharp and potentially rewarding. This is a high-probability setup worth watching closely in the coming days. ================================================================= Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. =================================================================
TRADENATION:XAUUSDLong
by TradZoo
Gold Took Support – Now Bulls Are in Control! Gold Took Support – Now Bulls Are in Control! Gold (XAUUSD) price has taken a strong bounce from the support zone, and now it’s looking bullish. Market reacted nicely from the demand zone, which means buyers are stepping in again. 📊 Technical Analysis: ✅ Strong Support Zone (3260–3280): This area is acting like a strong base. Price touched here and immediately bounced — showing buying pressure. 🔄 Break of Structure (BOS): Market broke the previous structure and gave signs of trend reversal. It also grabbed liquidity from the lows. 🟩 Bullish Fair Value Gap (FVG): A clean FVG was formed and respected, which shows institutional activity and buying interest. 🎯 Target Level – 3366.984 USD: If bullish momentum continues, gold can easily move towards this level. It’s also near a previous resistance. 📚 Educational Points: Market took liquidity from the lows and reversed Fair Value Gap is respected, adding confirmation Structure break confirms buyers are in control Price is heading towards the next resistance zone 📌 Conclusion: Gold is now in a bullish phase. As long as the support zone is holding, buyers can stay confident. Target remains near 3366–3380 USD. Any pullback can give a good buy opportunity.
OANDA:XAUUSDLong
by Mentor_Michael03
1
Elliott Wave Analysis – XAUUSD August 1, 2025📊 ________________________________________ 🔍 Momentum Analysis: • D1 Timeframe: Momentum has reversed to the upside. Based on this signal, we expect a bullish trend to continue for the next 5 daily candles — likely until mid-next week. • H4 Timeframe: Momentum has also turned upward → This suggests that from now until the U.S. session, the price will likely continue to rise or consolidate with an upward bias. • H1 Timeframe: Momentum is currently turning down → We anticipate a short-term corrective move. We should wait for H1 to enter the oversold zone and give a bullish reversal signal before looking for long entries. ________________________________________ 🌀 Wave Structure Analysis: The current wave structure remains complex and lacks clear confirmation. Thus, the current wave labeling should be considered provisional. However, the wave count has not been invalidated, and D1 momentum supports a bullish outlook — so we continue to maintain our wave structure bias. Important Note: Wave (C) in red appears relatively short. This leaves open the possibility that the price may continue lower, targeting: • ⚠️ 3246 • ⚠️ 3200 → This scenario will be triggered if price breaks below 3268, especially given today's Nonfarm Payroll (NFP) report. ________________________________________ 📌 Two Possible Wave Scenarios: 1. Scenario 1: Black Waves 1 – 2 – 3 o Wave 1 (black) is complete. o We are now in Wave 2 (black) → Preparing for Wave 3. o Wave 3 tends to be strong, impulsive, and sharp with large candle bodies. o Target: 3351 2. Scenario 2: Black ABC Correction o The market is currently in Wave B (black). o Potential target for Wave C: 3328 ________________________________________ 🛡 Support Zones & Trade Strategy: • Support Zone 1: 3290 → A good area for potential buying, but we must wait for H1 to enter the oversold region and show a bullish reversal. • Support Zone 2: 3275 → Deeper buy zone if the price corrects further. ________________________________________ 💡 Trade Plan: 📍 Option 1 – Buy Limit: • Buy Zone: 3290 – 3289 • Stop Loss: 3280 • Take Profit 1: 3309 • Take Profit 2: 3328 • Take Profit 3: 3351 📍 Option 2 – Buy Limit: • Buy Zone: 3275 – 3273 • Stop Loss: 3265 • Take Profit 1: 3309 • Take Profit 2: 3328 • Take Profit 3: 3351 ________________________________________ 📎 Notes: • Experienced traders should wait for clear confirmation signals on H1 before entering trades. • New traders may consider using limit orders in the proposed buy zones.
OANDA:XAUUSDLong
by WavePoint_FX
Gold Traders Hold Breath as NFP looms, Will $3310 break the ice?Gold trades in familiar range supported by price stability above local demand zone 3285 while immediate resistance 3307 keeps gains under check. A decisive break above 3307 followed by break above 3310 strengthens the case for further advance towards 3315 and a strong breakout above 3315 eases the way to next resistance 4 hourly 50 EMA 3325 Next bullish targets sit at $3340-$3346 On the flip cover, break below 3285-$3380 urges caution ⚠️ as increasing selling pressure breaking below 3280 may extend decline towards 3276 below which 100 Day SMA 3270 and recent low 3268 may be under threat exposing levels a tad lower 3251 while all eyes will be fixed on major low 3245 which is an acceleration point to a deeper correction
OANDA:XAUUSD
by SunilKumarDixitSKCharting
XAUUSD Gold Trading Strategy August 1, 2025: Yesterday's trading session, gold prices recovered to the 3315 area and then continued to decrease to the 3281 area. Currently, gold prices are fluctuating quite unpredictably due to the impact of tariff news and investor confidence. Basic news: The Federal Reserve FED continues to maintain the federal funds benchmark interest rate in the range of 4.25% - 4.50%, in line with policy since 2025. Chairman Powell did not give any signal about the next interest rate cut on September 16 - 17. Technical analysis: After falling sharply to the 3269 area, gold prices are showing signs of recovery. In the current downtrend channel, there has been a higher bottom than the bottom at H1. We can see that if the bullish pattern at H1 is confirmed, combined with the reversal candlestick appearing at H4, the possibility of gold bouncing back to reach the resistance area of 3330, even 3350 is completely possible. In the weekend trading session, we will wait at the support zones to trade. Important price zones today: 3280 - 3285 and 3269 - 3274. Today's trading trend: BUY. Recommended orders: Plan 1: BUY XAUUSD zone 3283 - 3285 SL 3280 TP 3288 - 3300 - 3310 - 3330. Plan 2: BUY XAUSD zone 3269 - 3271 SL 3266 TP 3274 - 3284 - 3300 - 3320. Wish you a safe, favorable and profitable trading day.🥰🥰🥰🥰🥰
OANDA:XAUUSD
by rotpubsew
XAUUSD – Gold jumps as weak US job data boosts bullish sentimentGold prices reacted positively after the US Non-Farm Payrolls came in at only 106K and the unemployment rate rose to 4.2%, signaling a cooling labor market. This weak data has lowered expectations of further rate hikes from the Fed, offering strong support for gold. On the H4 chart, XAUUSD has formed a bottom around the 3,247 area and is now rebounding within a descending channel. A slight trendline break and a W-pattern near the bottom further reinforce the potential for a continued upward move. Technical view: XAUUSD is approaching a key resistance zone around 3,313 – a crucial level that could trigger a breakout. If gold breaks above it with strong buying pressure, it may head toward the upper boundary of the channel. The RSI is recovering from oversold levels, while EMA34 and EMA89 are starting to converge – suggesting a possible trend reversal ahead.
OANDA:XAUUSDLong
by Rocky_trade_
4
Gold continues to go long in the 3280-3300 range.Gold continues to go long in the 3280-3300 range. Today, we remain firmly bullish on a bottom in the 3280-3300 range. On August 1st, the Federal Reserve, while keeping interest rates unchanged, acknowledged slowing economic growth, triggering a repricing of expectations for a rate cut. This led to a rebound in gold prices, but of course, this was just a pretext for the price increase. Recently, gold prices experienced a four-day decline (July 23-28), falling from $3431 to $3268, as progress in trade negotiations and a rebound in the US dollar dampened safe-haven demand. Non-farm Payrolls Here are the key takeaways: Today's US July non-farm payrolls data (expected to increase by 110,000, compared to 147,000 previously) will determine expectations for a September rate cut by the Federal Reserve. A weak reading (e.g., below 100,000) could push gold prices back towards $3,400; A strong reading (above 150,000) would remain bearish for gold. Gold prices continue to decline, and we are long in the 3280-3300 range. Today, we remain firmly bullish on gold bottoming in the 3280-3300 range. On August 1st, the Federal Reserve, while keeping interest rates unchanged, acknowledged slowing economic growth, triggering a repricing of rate cut expectations in the market. This led to a rebound in gold prices, but of course, this was just a pretext for the price increase. Recently, gold prices experienced a four-day decline (July 23-28), falling from $3431 to $3268, as progress in trade negotiations and a rebound in the US dollar dampened safe-haven demand. Non-farm Payroll Data Here are the key takeaways: Today's US July non-farm payroll data (expected to increase by 110,000, compared to 147,000 previously) will determine expectations for a September rate cut by the Federal Reserve. A weak reading (e.g., below $100,000) could push gold back to $3,400. A strong reading (above $150,000) would continue to be bearish for gold. Technical Analysis and Trading Recommendations Key Levels: Support: $3,270 (100-day moving average) $3,248 (June low); Resistance: $3,300 psychological level $3,340 (21-day/50-day moving average crossover). Trading Strategy: Short-term: 1: If the price holds above $3,300, initiate a long position with a target of $3,330-3,350. 2: If the price falls below $3,270, a drop to $3,248 is possible. 3: Focus on the key watershed at $3,300 4: Key Point: As long as the gold price is above $3,300, I believe it's a good time to buy the dip. Following the upward trend in gold prices is a very wise choice. As shown in Figure 4h: The potential for gold prices to rebound is becoming increasingly clear. The lower edge of the wide fluctuation range is slowly stabilizing.
OANDA:XAUUSD
by Isla_Suri2025
Gold weakens further – is 3250 next?Hello traders, take a look at the chart — what do you see? Here’s my perspective: Recently, gold has shown signs of weakness as the U.S. dollar strengthens amid expectations that the Fed will delay interest rate cuts. In response to this, gold continues to trend lower and is currently hovering around the 3,289 USD mark. The previous ascending trendline has been broken, and both the EMA 34 and EMA 89 have turned downward, fueling bearish momentum. The 3,320 support level has also failed, and the latest bullish correction was rejected — reinforcing the downtrend. Given these clear fundamentals and technical confirmations, I expect the bearish momentum to accelerate, at least in the short term. My immediate target for this move is 3,250 USD. What about you — where’s your target?
OANDA:XAUUSDShort
by Kevinn_Nguyen
Liquidity Sweep Complete – Bullish Continuation Ahead?GOLD ANALYSIS 31/07: Liquidity Sweep Complete – Bullish Continuation Ahead? 🔍 Technical View | XAUUSD | 2H Chart | End of Month Setup Gold has completed a final liquidity sweep around the 3269–3271 zone and has since rebounded strongly, in line with the prevailing bullish structure. The sharp drop yesterday during the FOMC rate statement appears to have served its purpose: grabbing final sell-side liquidity before preparing for the next bullish leg. As of now, price is reacting at the 3295 zone, which coincides with the M30 CP (Change of Character) Zone, showing minor intraday retracement. A healthy pullback is likely before a potential bullish breakout of the descending trendline that has been holding price down over recent sessions. 🔵 BUY Strategy: Trend Continuation Setup We’re watching for potential re-entries on a dip toward the OBS Buy Zone (3286–3284), created after the recent bullish move. This could be the last opportunity to catch the next impulsive leg higher. Buy Zone: 3286–3284 Stop Loss: 3278 Targets: 3290 → 3294 → 3298 → 3304 → 3308 → 3312 → 3316 → 3320 → 3330 → ??? Key breakout confirmation will come if price closes strongly above 3313 (first key resistance). If broken, this opens the door toward the VPOC zone at 3328–3330, where a high-volume cluster awaits. 🔴 SELL Strategy: Short-Term Rejection Levels Shorts only become favorable below the VPOC Sell Zone (3328–3330). If price closes above this area, bearish pressure is likely to fade, and bulls will dominate the next leg. Sell Zone: 3328–3330 Stop Loss: 3335 Targets: 3324 → 3320 → 3315 → 3310 → 3305 → 3300 ⚠️ Important: Selling inside a bullish breakout structure is high-risk unless the market gives clear rejection at major supply. Always wait for price action confirmation. 🕯️ Monthly Candle Insight (July Close) Today marks the final trading day of July. Notably, the last two monthly candles have closed as Doji with long wicks, reflecting deep indecision and ongoing liquidity grabs. This aligns with the upcoming interest rate cut discussions at the next FOMC, which could ignite significant volatility. 📌 Summary: Liquidity sweep at 3269–3271 is likely complete. Price now retracing after strong bullish rebound from OBS Buy Zone. Watch for confirmation above 3313, then 3328–3330 for breakout toward higher zones (335x–337x). End-of-month close + macro narrative (FOMC) will be crucial to confirm direction. 💡 Pro Tip: Avoid entering late into reactive moves. Wait for retests of clean liquidity zones and use volume-based confluences to validate bias. 📲 Follow us @MMFlowTrading for real-time updates, macro analysis, and market structure insights on gold & major pairs.
OANDA:XAUUSDLong
by MMFlowTrading
2
Gold Recovery Fails at 3300 - Bearish Bias ContinuesBased on the gold chart analysis, here's a simplified price action breakdown: Gold attempted a decent recovery and pullback yesterday, but the price is still struggling to sustain above the crucial 3300-3305 area. This inability to hold above key support levels is concerning for bullish sentiment. Additionally, gold has failed to break above the resistance trendline (black line on the chart), which further weakens the bull case. For any meaningful upward movement, gold needs to generate at least one higher low formation, which hasn't printed yet. The immediate support zone lies at 3267-3275, and if this level breaks down, we could see further decline toward lower price levels. From a price action perspective, sellers are still in control of the market despite yesterday's recovery attempt. The key levels to watch are the 3300-3305 resistance above and 3267-3275 support below. Until gold can break and sustain above the resistance trendline while forming higher lows, the overall sentiment remains bearish.
OANDA:XAUUSD
by TheGoldenCircle
XAUUSD – Gold may plunge if key support failsHello traders! Gold continues to move within a clear descending channel and is currently retesting the previous support zone around 3,295.600. The RSI remains weak, and the EMA 34 stays below the EMA 89, confirming that the bearish trend is still dominant. On the news front, U.S. labor costs have exceeded expectations, the Fed held rates steady, and there’s no sign of a dovish shift. This continues to strengthen the USD and puts pressure on gold. Investors are now awaiting Powell’s speech at tonight’s FOMC meeting—if his tone remains hawkish, gold is likely to face further downside. Trading strategy: If price retraces to the 3,350 – 3,371 zone and shows rejection or reversal signals, SELL remains the preferred option.
OANDA:XAUUSDShort
by Rocky_trade_
2