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7.7 Gold Defense7.7 Gold Defense Bad fundamentals: The passage of the US "Big and Beautiful Act" and the extension of tariffs to August 1 have increased market uncertainty and put pressure on gold, focusing on testing the key psychological and technical support level of $3,300/ounce. Technical weaknesses: Daily: Running below the short-term moving average, overall weak. 4 hours: The decline in the early trading strengthened the weakness, the Bollinger Bands opened downward, the short-term moving average went down, and the MACD dead cross continued. These signals all point to the advantage of the bears, and there is a risk of breaking below 3,300 and accelerating the decline. The shock pattern is to be broken: last week, it oscillated in the range of 3245-3365, lacking a clear direction. The current technical form and fundamental events may become a catalyst to break the deadlock, especially the risk of a downward breakthrough is relatively high. Operation strategy: High-altitude is the main, low-long is the auxiliary. High-altitude opportunities: Below the resistance level of 3320, short at highs, and the target is 3300 and below (3295, 3280). Potential low-long opportunities (caution): If the gold price breaks through strongly and stabilizes at 3320, you can wait for a pullback to around 3320 to go long (confirm that the breakthrough is effective). If the gold price touches the support level near 3295 or 3280 for the first time, you can consider a short-term rebound with a light position (contrarian operation, high risk, fast entry and exit). Trade with caution and control risks! I wish you a smooth transaction!
OANDA:XAUUSD
by EmilyShared256111
Elliott Wave Analysis – XAUUSD – June 8, 2025🌀 Elliott Wave Structure Timeframe: H4 Currently, price action is overlapping with multiple abc correction patterns. To reduce noise and gain a clearer perspective, I’ve shifted the analysis to the H4 timeframe. From the 3500 level down to now, the entire corrective move has been composed of overlapping abc patterns rather than sharp, impulsive rallies. This suggests we are likely forming a contracting triangle correction in the form of abcde (green) as shown on the chart. At the moment, price appears to be in wave d (green), which is unfolding as a wxy structure (red). Trading during triangle corrections is particularly challenging due to the complex interweaving of corrective waves. Additionally, price is consolidating within the Volume Profile’s high-liquidity zone, as shown on the chart. Therefore, it is best to remain patient and wait for the triangle pattern to complete. 📉 Momentum Daily (D1) momentum: Currently showing signs of a bearish reversal → suggesting that price may move sideways or lower this week. (Toward the end of a triangle, price tends to compress and lose clear directional bias.) H4 momentum: Also shows reversal signals, and a strong bearish candle has recently formed. Thus, a short-term bearish bias is preferred until H4 momentum reaches the oversold region. 🎯 Price Targets Since the market is currently forming overlapping abc structures, setting precise wave targets is difficult. Therefore, I rely on Volume Profile zones to define key levels: 3342 Resistance Zone: Marks the boundary between high and low liquidity areas → This is a Sell Zone, supported by confluence with D1 and H4 momentum signals. 3294 Support Zone: Represents the lower boundary of high liquidity → This is the projected end of wave X (red) and serves as our Buy Zone. 🧭 Trade Plan 🔻 Sell Zone: Entry: 3340 – 3342 SL: 3350 TP1: 3320 TP2: 3300 🔺 Buy Zone: Entry: 3295 – 3293 SL: 3285 TP1: 3312 TP2: 3342 TP3: 3390 📌 Personal Note: At this stage, I prefer to wait for the abcde triangle to complete or for more structural confirmation. If you decide to trade, focus on short-term setups with reduced position size to manage risk during this complex correction phase.
OANDA:XAUUSDLong
by WavePoint_FX
Gold Breaks Below 3300 – Smart Buy Opportunity ... Gold Breaks Below 3300 – Smart Buy Opportunity or Warning of a Larger Downtrend? 🧭 Weekly Kickoff: Is the Sell-off Really That Dangerous? Gold opened this week with a sharp drop, falling to 3306 USD and even breaching the psychological 3300 level to dip into the 329x region. While this could be alarming at first glance, it's more likely a liquidity sweep than the beginning of a sustained downtrend. The market seems to be preparing for accumulation before the next big move. 🌐 Macro Highlights Impacting Gold US inflation continues to cool → creates room for the Fed to ease policy if needed FOMC minutes due this week → traders eye clues for timing of potential rate cuts Middle East tension eases → safe-haven demand slightly reduced Trump’s new tax legislation approved → may increase US debt pressure US–China trade war sees temporary pause → easing short-term geopolitical risk Overall, this phase resembles a classic consolidation, where breakout potential is growing rapidly. 📉 Technical Outlook – CP Pattern in Focus A Continuation Pattern (CP) is forming – typically a sign of trend continuation after correction. This suggests current downside movement could be a technical pullback rather than a true reversal. Price rejected resistance at 3336, broke below 3323 support, and quickly tested the 3303 region – a highly sensitive short-term support. If the 3293 level is breached, the next liquidity pool lies around 3278 USD, which could trigger aggressive buy interest. 📌 Key Trading Plan – 04 July 🔵 BUY ZONE 3294 – 3292 Stop Loss: 3288 Take Profit Targets: 3298 → 3302 → 3306 → 3310 → 3315 → 3320 → 3330 🔴 SELL SCALP 3324 – 3326 Stop Loss: 3330 Take Profit: 3320 → 3316 → 3312 → 3308 → 3304 → 3300 🔴 SELL ZONE 3350 – 3352 Stop Loss: 3356 Take Profit: 3346 → 3340 → 3335 → 3330 → 3320 💡 Market Insight Today This is a crucial “decision zone” for gold – the tug-of-war between bulls and bears is heating up. Will gold bounce off the 3290s and resume its upward journey, or are we heading for a deeper correction? 🧠 Keep an eye on the CP formation and price behaviour near key levels. ⚠️ Breakout traders should be patient – the real move may just be loading.
OANDA:XAUUSDLong
by MMFlowTrading
Gold prices are bearish today, with a target of 3260-3280.Gold prices are bearish today, with a target of 3260-3280. Event: The Trump administration plans to send tariff adjustment letters to about 12 countries by July 9. The new tariff rates are expected to take effect on August 1, ranging from 10% to 70%. U.S. Treasury Secretary Benson hinted that negotiations may be extended, but if no agreement is reached, the highest tariff of 24% will be restored in August. Impact: If the negotiations fail, the intensification of global trade frictions may boost safe-haven demand, and gold prices may hit $3,400; If the agreement is extended or partially reached, gold prices may fall back to the $3,300 support level. As of press time, gold prices have fallen to around 3,310. The decline in gold prices fully demonstrates the uncompromising attitude of various countries towards Trump's tariff policy, and believes that Trump will eventually compromise. Data game: Non-farm employment in June exceeded expectations (147,000 new jobs vs. expected 110,000), and the probability of a rate cut in September dropped from 78% to 65%. However, the unexpected contraction of the ADP employment data in June (down 33,000 people) indicates that the performance of small and medium-sized enterprises is weak, which has exacerbated economic uncertainty. Focus: Minutes of the Fed's July 10 meeting If a hawkish signal is released (such as a delay in interest rate cuts), it may suppress the price of gold to $3,280; If a dovish signal is released, it may boost the price of gold. Middle East situation: The ceasefire negotiations between Israel and Kazakhstan broke down, Israel launched an air strike on the port of Houthi armed forces in Yemen, and the conflict on the Lebanese border escalated. If a large-scale war breaks out, the price of gold may soar to $3,400 overnight. Russia-Ukraine conflict: If there is an unexpected solution before July 15, the price of gold may quickly fall back to $3,250. The passage of the US "Big and Beautiful" tax cut bill will increase the deficit by $3.4 trillion in the next decade, and long-term inflation expectations support gold. 2. Technical aspects: Key price: Macro fluctuation range: 3250-3370 Central support: 3310 Important support: $3300 (psychological barrier), $3280 (technical support), $3250 (June low). Important resistance: $3320, $3350 (recent high), $3400 (historical pressure). 3. Potential emergencies and scenario simulation: If Trump imposes high tariffs on China (e.g. 70%), it may cause panic in the global market and gold prices may rise to $3450. (My analysis: Trump will still admit defeat. This is a person with no bottom line, full of nonsense, and untrustworthy.) Escalation of the conflict in the Middle East: Israel's ground attack on Lebanon or Iran's intervention will trigger a surge in safe-haven buying. (My analysis: Israel can do whatever it wants now, after all, it depends on the United States. Those who know the business know that the war will continue like this for a long time, and it is unlikely that a large-scale war will break out in the short term.) Operational suggestions: Today's gold price is viewed with a high-price short-selling mentality. I think $3,300 is difficult to maintain. Gold prices are likely to break through 3,300 today and bottom out around 3,260-3,280. Therefore, please pay attention to the breakthrough direction of the $3,300-3,350 range; Short-term resistance area: $3,320-3,330-3,340 (high-altitude strategy range can be participated in during the day) Stop loss range: $3,345-3,350 Target range: $3,380-3,360
OANDA:XAUUSD
by louisa111222
Gold Slips Sharply to Start the Week – What’s Next?Hello everyone! What are your thoughts on gold today? As the new trading week kicks off, gold has taken a sharp dive, shedding over 200 pips and currently hovering around $3,316 at the time of writing. The short-term bearish momentum remains intact, especially after breaking below the key $3,325 support level. The confluence of the EMA 34, EMA 89, and the former support-now-resistance zone forms a critical ceiling. Unless the bulls manage to reclaim this area, the downward trend is likely to persist, keeping sellers in control. So, what’s your outlook for gold? Is this just a dip—or the start of a deeper correction?
OANDA:XAUUSDShort
by Kevinn_Nguyen
XAUUSD 15M Analysis (Potential Rejection Zone Plan)Price is currently forming a minor base after a sharp drop, with a clear imbalance retracement area above. Key points: ✅ Price is expected to retrace toward the $3324–$3328 supply zone (highlighted box). ✅ The plan is to look for weakness or rejection in this zone for a potential short setup. ✅ Clean structure: Higher timeframe remains bearish, so we anticipate the retracement to fill inefficiency before continuation down. ✅ If the zone breaks cleanly, we will wait for a retest flip for continuation toward the next supply. MY Trade Plan: 🔹 Waiting for price to push into the yellow supply zone. 🔹 Monitor for M5/M15 lower high formation or bearish engulfing for short triggers. 🔹 Targets below: $3312, $3307, and extended $3299 area. 🔹 Invalidation: Clean M15 close above $3328 with retest flip.
OANDA:XAUUSD
by vikramsingh88
Trade Setup – SELL GOLD (XAU/USD)✅ Trade Setup – SELL GOLD (XAU/USD) 📅 Date: July 7–10, 2025 🕒 Timeframe: 1H (Hourly) 🎯 Trade Parameters: Sell Entry Zone: 3,322 – 3,330 USD/oz (previous support turned resistance + MA20 + Fibonacci 0.236) Stop Loss (SL): 3,336 USD (above local resistance and moving average) Take Profit (TP): • TP1: 3,260 USD (near Fibonacci 0.618 and historical support) • TP2: 3,168 – 3,160 USD (deeper support zone and Fibo 0.786) 📊 Technical Analysis: Price has broken the short-term ascending trendline and is testing from below — suggesting a potential bearish continuation. Recent candles closed below the 20 & 50-period moving averages, showing weak upside momentum. Volume rises during bearish moves, and shrinks on retracements — indicating sellers are in control. Bollinger Bands are expanding downward, confirming momentum is building to the downside. 🧭 Trading Strategy: Wait for price to retest the 3,322–3,330 zone with bearish confirmation (e.g., engulfing, pin bar). Partial take profit at 3,260, and hold remainder for TP2 if breakdown continues. Place strict SL at 3,336 to minimize risk if resistance breaks.
CAPITALCOM:GOLDShort
by HungDaoGlobalTrading
Gold Weekly Analysis : Monday 07/07/2025Gold made a solid attempt to break higher last week, but that 3360 resistance level (previous week's R1) proved to be a tough line to break. The bulls pushed hard but couldn't secure a clean breakout, and now we're seeing some of that momentum fade. Price opened with a decline today, showing some weakness after last week's failed breakout attempt. This is typical behavior after hitting resistance, some profit-taking and repositioning is expected. This week's pivot is at 3316, which is actually ascending from last week's 3308 pivot. This is still a positive sign and suggests the underlying structure remains constructive despite the recent pullback. In the bigger timeframe, gold is still consolidating within a range. We're not seeing a complete breakdown of the bullish structure yet, but rather a pause after the rejection at key resistance. Critical Levels to Watch: Upside Breakout Level: Last week's high around 3360 remains the key level bulls need to reclaim for any meaningful continuation higher. Defense Zone: The 3300-3308 area is crucial support. This zone encompasses both the psychological 3300 level and the previous week's pivot. Bulls need to defend this area to maintain their recent gains. If price slides below 3300, we could see a decline back toward that recent swing low area. This would signal that the bulls have lost control of the near-term momentum.
FOREXCOM:XAUUSDLong
by TheGoldenCircle
Gold Drops to $3306, Upside Challenged by $3320 &$3338Gold opened the 1st day of the week trading with minor strength but soon witnessed selling as bears cleared through $3320 immediate support turning it into resistance and the metal dropped straight to $3306 which aligns with 50% Fibonacci zone of up wave $3244 - $3366 Current price action shows some bounce back off the lows however and successful rebound will require decisive break above immediate resistance $3320 which is marked by 38.2% Fibonacci zone which will next ease the way to extension of bullish rebound towards $3338 On the flip side, break below $3306 will prompt further decline to 61.8% Fibonacci zone $3291 below which next support sits at $3270-$3268
OANDA:XAUUSDShort
by SunilKumarDixitSKCharting
Gold Holds the Line and Rallies – A Strong Weekly Close in SightAfter holding firm at the support level around $3,250 per ounce, gold is on track to end this shortened trading week with a notable gain. This is an encouraging sign for investors, highlighting that gold’s appeal remains strong despite recent volatility. The recent sell-off was not entirely unexpected, as the market recalibrates its interest rate expectations. However, the long-term bullish trend for gold remains intact, even as the price consolidates within a narrow range.
OANDA:XAUUSDLong
by Kevinn_Nguyen
1
Gold Trading Strategy for 07th July 2025📊 GOLD INTRADAY STRATEGY – JULY 6, 2025 (Based on 15-minute candle breakout confirmation) 🟢 BUY SETUP 📈 Buy Above: Close above the High of 15-min Candle & Price > $3345 🎯 Targets: ✅ $3355 ✅ $3365 ✅ $3375 🔒 Stop Loss: Below $3335 (or below candle low) 🔴 SELL SETUP 📉 Sell Below: Close below the Low of 15-min Candle & Price < $3310 🎯 Targets: ✅ $3298 ✅ $3285 ✅ $3273 🔒 Stop Loss: Above $3320 (or above candle high) ⚠️ Disclaimer: 📌 This strategy is shared for educational and informational purposes only. 📌 Trading in commodities involves significant risk. Always use strict risk management. 📌 Please consult with your financial advisor before making any trading decisions. 📌 We are not liable for any profits or losses incurred. 🪙 Stay focused. Trade with discipline. Protect your capital. 💹
TVC:GOLD
by ramkkyy
GOLD/USD Bearish Rejection From Resistance Zone – Potential DropGOLD/USD Bearish Rejection From Resistance Zone – Potential Drop Ahead! 🎯 📊 Technical Analysis Summary: The chart illustrates a bearish setup forming after multiple rejection points near a key resistance zone around 3,360–3,380 USD. 🔍 Key Observations: 🔴 Double Rejection Pattern: Red arrows highlight strong bearish rejections from resistance. Indicates sellers are defending this zone aggressively. 🟠 Support Turned Resistance: The previous support (labelled as "SUPPOT") is now acting as resistance. Classic bearish retest behavior. 🔷 Bearish Flag Formation: Price consolidates in a descending flag pattern. Breakdown below the flag suggests continuation to the downside. 🎯 Target Zone: If breakdown confirms, price may drop towards target area near 3,275–3,280 USD (marked as “TARGET FAXS”). 🟧 Important Reaction Zones: Multiple orange circles indicate zones of high reaction – historically significant for both buyers and sellers. 📌 Conclusion: Unless bulls reclaim the 3,360–3,380 resistance zone convincingly, the bias remains bearish, and the next leg down may target the 3,280 USD area. 🔔 Traders should watch for a clean break below 3,320 to confirm bearish continuation.
TVC:GOLDLong
by MrStellanSight
Beauty of Fibonacci Resistance Speed Fan on Gold as a Golden 1. Look at the Beauty of Fibonacci Resistance Speed Fan on Gold as a Golden View The weekly chart of CFDs on Gold (USD/oz) showcases a stunning Fibonacci resistance fan, guiding price action with precision. 2. Fibonacci Levels as Key Resistance Zones The fan, drawn from the 2025 low, highlights critical resistance levels: 0.25 at $3,250,000, 0.382 at $3,333,900 (current price), 0.5, 0.618, and beyond, acting as potential ceilings. 3. Current Price Action at $3,333.90 As of July 06, 2025, 01:16 PM +04, gold trades at $3,333.90 (+$8.48 or +0.26%), aligning perfectly with the 0.382 Fibonacci level, indicating a strong resistance test. 4. Upward Momentum Meets Resistance The price has risen steadily from $2,500 in December 2024, but the Fibonacci fan suggests a potential pause or reversal as it approaches the 0.382 and 0.5 levels. 5. 0.5 Level at $3,500 as a Major Hurdle The 0.5 Fibonacci resistance at $3,500 looms large, where gold may face significant selling pressure if it breaks through the current $3,333.90 mark. 6. 0.618 Level Signals Next Target Should gold surpass $3,500, the 0.618 level around $3,750 could be the next psychological and technical barrier, testing bullish strength. 7. Trendline Support Aligns with Fibonacci The ascending trendline, intersecting near $3,250, complements the Fibonacci fan, offering dynamic support if a pullback occurs from these resistance zones. 8. Recent Price Action Reflects Fibonacci Precision The recent $8.48 uptick to $3,333.90 demonstrates gold’s adherence to the 0.382 level, reinforcing the fan’s predictive power over the past months. 9. Potential Breakout or Reversal Ahead Traders should watch for a breakout above $3,333.90 towards $3,500 or a reversal back to $3,250, with the Fibonacci fan providing clear levels to monitor. 10. Strategic Trading with Fibonacci Insights Use the Fibonacci resistance fan to plan entries and exits, leveraging its alignment with gold’s current $3,333.90 price to anticipate the next move in this golden market.
TVC:GOLD
by stocktechbot
Gold XAUUSD updated levels for next week range bound to negativeHow My Harmonic pattern projection Indicator work is explained below : Recent High or Low : D-0% is our recent low or high Profit booking zone: D13% -D15% is range if break them profit booking start on uptrend or downtrend but only profit booking, trend not changed SL reversal zone : SL 23% and SL 25% is reversal zone if break then trend reverse and we can take reverse trade Target : T1, T2, T3, T4 and . Are our Target zone
OANDA:XAUUSDShort
by EquityCommodityMarketJaiPrakas
XAUUSD: Bullish Momentum Continues to BuildGold is currently trading within an ascending triangle pattern on the H1 chart, with support around the 3,322 zone and resistance near 3,359 USD. Recent price action shows strong bounces from the support line, along with a series of bullish Fair Value Gaps — indicating clear buying strength. Fundamental factors supporting the upside: – Weak U.S. job data lowers expectations for prolonged high interest rates from the Fed. – The U.S. dollar is weakening due to inflation pressure and fiscal uncertainty. – Rising geopolitical tensions and increased U.S. spending are boosting safe-haven demand for gold. Strategy: Look for buy opportunities on a retest of the 3,322–3,326 zone. Target the 3,359 USD level, with potential for further upside if the triangle breaks to the top. Watch out for invalidation if price falls below support.
OANDA:XAUUSDLong
by Rocky_trade_
Gold Attempts Bullish Rebound, Awaits Break Above $3350The recovery attempts from yesterday's $3312 lows apparently facing resistance at $3346 and strong break needed above $3350 to confirm rebound which its next targets 78.6% Fibonacci zone $3372 Currently a pullback from $3345 is testing local demand zone $3333 below which next support sits at $3323 where buyers may resurface for renewed attack on overhead resistance $3346 and clearing through $3350 hurdle to advance higher to next critical resistance $3372
OANDA:XAUUSDLong
by SunilKumarDixitSKCharting
XAUUSD: Poised for a Breakout to Higher LevelsThe H1 chart shows gold moving sideways within a symmetrical triangle, with higher lows and narrowing range — a classic sign of consolidation before a potential breakout. The lower boundary of the triangle is acting as dynamic support around the 3,334–3,336 zone. Buyers appear to be in control, pushing price up from previous Fair Value Gap zones. If price holds above 3,334 and breaks through the upper triangle resistance, the next short-term target is around 3,371. Strategy: Favor a mild upside breakout scenario. Consider long entries if price breaks above 3,350 with volume confirmation, targeting 3,371 for take-profit.
OANDA:XAUUSDLong
by Rocky_trade_
Gold Pauses as Strong NFP Data Boosts the DollarHello traders! Gold is currently hovering around $3,330 after Friday’s Non-Farm Payrolls (NFP) report came in stronger than expected, showing 147,000 new jobs — higher than both the previous reading (139,000) and forecasts (110,000). This pushed the US dollar slightly higher, placing temporary pressure on gold’s upside momentum. However, broader market factors still support gold’s long-term bullish outlook. Concerns over US fiscal sustainability, continued central bank gold buying, and global growth fears remain key drivers for safe-haven demand. Technically, gold continues to hold above the key support zone near $3,325, preserving its bullish structure. As long as this level holds, the upward trend remains valid. 👉 What’s your take after the latest NFP report? Will gold keep rising — or is a pullback on the way?
OANDA:XAUUSDLong
by Kevinn_Nguyen
XAUUSD – Market Stays Flat Despite Trump’s Super BillXAUUSD – Market Stays Flat Despite Trump’s Super Bill, Is Gold Quietly Building Momentum? Gold has entered a narrow consolidation phase after a series of strong macroeconomic catalysts — including the passing of Trump’s Super Bill by the U.S. House of Representatives. But instead of rallying immediately, gold remains flat... and that silence could be louder than it seems. 📰 Macro Recap – Good for USD, Bad for Gold? The approved Super Bill may weaken the U.S. dollar in the medium term due to rising fiscal deficits. But for now, the market is skeptical, and gold is not reacting as expected. Meanwhile, the NFP and Unemployment Rate (UR) data came in surprisingly strong last night, reinforcing the possibility that Fed rate cuts may be delayed → A short-term bearish pressure on gold. With the U.S. Independence Day holiday, market liquidity will likely remain low today, increasing the risk of fake breakouts or stop-hunting volatility. ❗ “No immediate rally doesn’t mean no rally at all.” A retracement to the 3.2xx zone could offer an ideal entry for medium-term longs. 📉 Technical Outlook – XAUUSD Price has broken above the recent short-term downtrend line and is now testing a critical supply zone around 3344–3345, which may determine today’s intraday direction. 🔍 Key Levels Major Resistance: 3345 – 3362 – 3374 – 3388 – 3390 Major Support: 3330 – 3312 – 3304 – 3302 – 3298 🟢 Bullish Strategies (Buy Setups) 🔹 BUY Scalp Zone: 3313 – 3311 SL: 3307 TP: 3316 – 3320 – 3325 – 3330 – 3335 – 3340 – 3345 – 3350 🔹 Deep BUY Zone: 3304 – 3302 SL: 3298 TP: 3308 – 3312 – 3316 – 3320 – 3330 – 3340 These zones align with EMA confluence and potential FVG retracements – a solid setup for trend continuation. 🔴 Bearish Strategies (Short-Term Only) 🔹 SELL Scalp Zone: 3362 – 3364 SL: 3368 TP: 3358 – 3354 – 3350 – 3346 – 3340 – 3335 – 3330 🔹 Upper SELL Zone: 3388 – 3390 SL: 3394 TP: 3384 – 3380 – 3376 – 3370 – 3365 – 3360 Consider shorting only with confirmation patterns or bearish signals from lower timeframes. 🧠 Market Sentiment Today The market seems to be in a wait-and-see mode, consolidating between 3320 – 3340 as traders digest recent macro data. A breakout is likely after the U.S. holiday ends. Primary Scenario: Look to BUY on deeper pullbacks into support zones. Alternate Scenario: SELL only for intraday scalps when price rejects key resistance. 💬 What’s Your Take? Is gold silently accumulating strength for a breakout above 3390? Or are we about to witness a deeper correction in the coming sessions? 👇 Share your thoughts in the comments and let's discuss it together!
OANDA:XAUUSDLong
by MMFlowTrading
Gold/USD Bullish Breakout Toward Target Zone Gold/USD Bullish Breakout Analysis 🚀🟢 The chart illustrates a strong bullish breakout from a consolidation zone, signaling upward momentum: 🔍 Key Technical Observations: Support Zone: The price respected the support area around 3,325 – 3,330 USD, forming a solid base for reversal. Bullish Structure: Series of higher lows and higher highs indicate a bullish trend formation. Breakout Confirmation: Price broke above short-term resistance with a strong bullish candle, indicating buying pressure. Trendline Support: The ascending trendline has held well, confirming trend continuation. Target Point 🎯: Projected target is near 3,365 USD, which aligns with a previous resistance and Fibonacci confluence zone. ✅ Conclusion: The breakout above resistance, supported by a bullish structure and momentum, suggests further upside potential toward the 3,365 USD target zone. As long as price holds above the breakout level, bullish bias remains valid. 🛑 Watch for invalidation if price falls back below 3,330 USD zone.
TVC:GOLDLong
by MrStellanSight
Gold Update: Bulls Test Weekly R1 at 3360 The 3360 Weekly R1 level is proving to be a solid barrier. This was anticipated, as weekly resistance levels often require multiple attempts or significant volume to break through cleanly. gold needs substantial volume to power through this resistance level, but we're heading into a low-volume trading environment. With the US markets closing early today for Independence Day, we're looking at reduced trading activity. This creates a few scenarios: Lower volume could mean less momentum to break resistance Thin trading conditions might lead to choppy price action Any breakout attempts may lack the conviction needed for follow-through. 3308 Major Support: This remains our key downside level to watch. If the bulls can't make progress at 3360 and we see some profit-taking, this support zone becomes crucial for maintaining the recent bullish momentum.
FOREXCOM:XAUUSDLong
by TheGoldenCircle