XAUUSD: Gold's Muted Ascent Below $3350 – Navigating Key Levels Amidst USD Weakness!
Hello TradingView Community!
Let's delve into the intricate world of Gold (XAUUSD) today. The yellow metal is showing a subtle positive bias, largely influenced by a weaker US Dollar, yet a decisive bullish breakout above the $3350 mark remains elusive.
🌍 Macroeconomic Landscape: Forces Shaping Gold's Path
Gold has maintained a slight positive stance for the second consecutive day, but it's struggling to find significant follow-through, staying below the $3350 level in early European trading.
USD Under Pressure – A Tailwind for Gold: The primary driver for Gold's recent strength is the weakening US Dollar. Reports suggesting President Trump is considering replacing Fed Governor Jerome Powell have sparked concerns about the US central bank's future independence. This speculation has fueled market expectations for further Fed rate cuts this year, pushing the USD to its lowest point since March 2022, thereby providing support for non-yielding assets like Gold.
Cautious Outlook Prevails: Despite USD weakness, a definitive bullish trend for Gold is not yet confirmed. The ongoing ceasefire between Israel and Iran holds firm, with prevailing optimism limiting significant safe-haven rallies. This complex environment necessitates caution before confirming a definitive bottom for Gold or positioning for a substantial recovery from levels below $3300.
Key Data Ahead: Traders are keenly awaiting upcoming US macroeconomic data and speeches from FOMC members. These insights will be crucial in influencing XAU/USD, particularly ahead of Friday's pivotal US Personal Consumption Expenditures (PCE) Price Index release.
📊 XAUUSD Technical Outlook: Pinpointing Strategic Zones
Based on recent technical analysis (referencing image_e9d325.png for key levels), Gold is in a consolidation phase after a recent sharp decline, trading around the $329X mark. Price action below shorter-term moving averages suggests either lingering bearish pressure or an accumulation phase.
Strong Support Zones (Potential Buy Areas): Critical demand areas are identified around 3294.414, 3276.122, and notably 3264.400. These levels are crucial for potential price bounces.
Key Resistance Zones (Potential Sell Areas): Significant supply zones are found at 3313.737, 3321.466, 3330.483, and 3341.947. These are points where selling pressure may emerge.
🎯 XAUUSD Trading Plan: Your Actionable Strategy
Here's a breakdown of the strategic entry and exit points for your XAUUSD trades:
BUY ZONE (Strong Support - Long-Term Bias):
Entry: 3266 - 3264
SL: 3270
TP: 3280 - 3284 - 3290 - 3295 - 3300 - 3305 - 3310 - 3320
BUY SCALP (Quick Buy at Intermediate Support):
Entry: 3284 - 3282
SL: 3278
TP: 3288 - 3292 - 3296 - 3300 - 3305 - 3310 - 3320 - 3330
SELL ZONE (Key Resistance):
Entry: 3331 - 3333
SL: 3337
TP: 3326 - 3320 - 3316 - 3310 - 3305 - 3300
SELL SCALP (Quick Sell at Near Resistance):
Entry: 3313 - 3315
SL: 3320
TP: 3310 - 3305 - 3300 - 3295 - 3290 - 3280
⚠️ Key Factors to Monitor Closely:
US Macro Data: Friday's US Personal Consumption Expenditures (PCE) Price Index is paramount for market direction.
FOMC Member Speeches: Any official comments on monetary policy or inflation outlook will significantly impact USD and Gold.
Geopolitical Stability: Developments related to the Israel-Iran ceasefire can influence safe-haven demand.
Hello TradingView Community!
Let's delve into the intricate world of Gold (XAUUSD) today. The yellow metal is showing a subtle positive bias, largely influenced by a weaker US Dollar, yet a decisive bullish breakout above the $3350 mark remains elusive.
🌍 Macroeconomic Landscape: Forces Shaping Gold's Path
Gold has maintained a slight positive stance for the second consecutive day, but it's struggling to find significant follow-through, staying below the $3350 level in early European trading.
USD Under Pressure – A Tailwind for Gold: The primary driver for Gold's recent strength is the weakening US Dollar. Reports suggesting President Trump is considering replacing Fed Governor Jerome Powell have sparked concerns about the US central bank's future independence. This speculation has fueled market expectations for further Fed rate cuts this year, pushing the USD to its lowest point since March 2022, thereby providing support for non-yielding assets like Gold.
Cautious Outlook Prevails: Despite USD weakness, a definitive bullish trend for Gold is not yet confirmed. The ongoing ceasefire between Israel and Iran holds firm, with prevailing optimism limiting significant safe-haven rallies. This complex environment necessitates caution before confirming a definitive bottom for Gold or positioning for a substantial recovery from levels below $3300.
Key Data Ahead: Traders are keenly awaiting upcoming US macroeconomic data and speeches from FOMC members. These insights will be crucial in influencing XAU/USD, particularly ahead of Friday's pivotal US Personal Consumption Expenditures (PCE) Price Index release.
📊 XAUUSD Technical Outlook: Pinpointing Strategic Zones
Based on recent technical analysis (referencing image_e9d325.png for key levels), Gold is in a consolidation phase after a recent sharp decline, trading around the $329X mark. Price action below shorter-term moving averages suggests either lingering bearish pressure or an accumulation phase.
Strong Support Zones (Potential Buy Areas): Critical demand areas are identified around 3294.414, 3276.122, and notably 3264.400. These levels are crucial for potential price bounces.
Key Resistance Zones (Potential Sell Areas): Significant supply zones are found at 3313.737, 3321.466, 3330.483, and 3341.947. These are points where selling pressure may emerge.
🎯 XAUUSD Trading Plan: Your Actionable Strategy
Here's a breakdown of the strategic entry and exit points for your XAUUSD trades:
BUY ZONE (Strong Support - Long-Term Bias):
Entry: 3266 - 3264
SL: 3270
TP: 3280 - 3284 - 3290 - 3295 - 3300 - 3305 - 3310 - 3320
BUY SCALP (Quick Buy at Intermediate Support):
Entry: 3284 - 3282
SL: 3278
TP: 3288 - 3292 - 3296 - 3300 - 3305 - 3310 - 3320 - 3330
SELL ZONE (Key Resistance):
Entry: 3331 - 3333
SL: 3337
TP: 3326 - 3320 - 3316 - 3310 - 3305 - 3300
SELL SCALP (Quick Sell at Near Resistance):
Entry: 3313 - 3315
SL: 3320
TP: 3310 - 3305 - 3300 - 3295 - 3290 - 3280
⚠️ Key Factors to Monitor Closely:
US Macro Data: Friday's US Personal Consumption Expenditures (PCE) Price Index is paramount for market direction.
FOMC Member Speeches: Any official comments on monetary policy or inflation outlook will significantly impact USD and Gold.
Geopolitical Stability: Developments related to the Israel-Iran ceasefire can influence safe-haven demand.
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⚜️Daily 8 to 15 Signals VIP
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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.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
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.