Gold Spot / U.S. DollarUpdated Gold before NFP: A general outlook
Yesterday, XAUUSD pulled back to an intraday low of 2835, but buyers quickly stepped in, driving the price back above 2860—a key confluence resistance level.
This strong rebound suggests that the correction may be over, with bulls regaining control.
📌 Key Levels to Watch:
Support: 2835 (recent low), 2800 (psychological level), 2785 (next key demand zone)
Resistance: 2880 (recent high), 2900 (round number), 2925 (potential breakout target)
📈 What’s Next?
With NFP data on the horizon, volatility is expected. The market's reaction will depend on how the data impacts rate cut expectations. If the report is strong but inflation concerns persist, Gold could rally toward a new all-time high, targeting 2900+.
On the other hand, a weak NFP could either lead to a pullback or further upside, depending on how traders interpret the Fed’s potential response. Key support remains at 2835–2800 for buy-the-dip opportunities.
⚡ Trade Setups to Consider:
✅ Bullish Scenario: A confirmed breakout above 2880 could open the door for a rally towards 2900–2925.
🚨 Bearish Scenario: A weekly close below 2835 could indicate a deeper correction, with downside targets near 2800 and 2785.
📊 Final Outlook:
As long as gold holds above 2835, the bullish structure remains intact. A break and weekly close below this level would be the first sign of a deeper pullback. For now, dips remain buying opportunities unless price action suggests otherwise.
XAUUSD pulled back to an intraday low of 2835, but buyers quickly stepped in, driving the price back above 2860—a key confluence resistance level. This strong rebound suggests that the correction may be over, with bulls regaining control.
📌 Key Levels to Watch:
Support: 2835 (recent low), 2800 (psychological level), 2785 (next key demand zone)
Resistance: 2880 (recent high), 2900 (round number), 2925 (potential breakout target)
📈 What’s Next?
With NFP data on the horizon, volatility is expected. The market's reaction will depend on how the data impacts rate cut expectations. If the report is strong but inflation concerns persist, Gold could rally toward a new all-time high, targeting 2900+.
On the other hand, a weak NFP could either lead to a pullback or further upside, depending on how traders interpret the Fed’s potential response. Key support remains at 2835–2800 for buy-the-dip opportunities.
⚡ Trade Setups to Consider:
✅ Bullish Scenario: A confirmed breakout above 2880 could open the door for a rally towards 2900–2925.
🚨 Bearish Scenario: A weekly close below 2835 could indicate a deeper correction, with downside targets near 2800 and 2785.
📊 Final Outlook:
As long as gold holds above 2835, the bullish structure remains intact. A break and weekly close below this level would be the first sign of a deeper pullback. For now, dips remain buying opportunities unless price action suggests otherwise.
Trade active
As expected dips were bought and now Gold broke above local resistance.
We eyeing new ATH
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.