Trade Idea for XAUUSD
Position: Short (Sell)
Reasoning:
1. Technical Analysis:
• Daily Chart: Price is at a key resistance level near 2775-2780, showing signs of exhaustion.
• M15 Chart: Recent strong bullish momentum has met resistance, and price has started to reject lower.
• M3 Chart: Short-term trend reversal, showing lower highs and a loss of bullish momentum.
• Indicators:
• RSI (14) on M15 & M3: Shows overbought conditions.
• MACD: Weakening momentum, signaling potential for reversal.
2. Fundamental Analysis:
• If upcoming macroeconomic data (e.g., NFP, FOMC, CPI) favors USD strength, gold will likely decline.
• Higher U.S. bond yields or hawkish Fed sentiment can put downward pressure on XAUUSD.
Trade Setup
• Entry: 2775
• Stop-Loss (SL): 2785 (Above recent highs)
• Take-Profit (TP): 2755
• Risk-Reward Ratio (RRR): 2:1
This trade idea aligns with technical resistance, short-term reversal patterns, and fundamental factors favoring a potential gold decline.
Position: Short (Sell)
Reasoning:
1. Technical Analysis:
• Daily Chart: Price is at a key resistance level near 2775-2780, showing signs of exhaustion.
• M15 Chart: Recent strong bullish momentum has met resistance, and price has started to reject lower.
• M3 Chart: Short-term trend reversal, showing lower highs and a loss of bullish momentum.
• Indicators:
• RSI (14) on M15 & M3: Shows overbought conditions.
• MACD: Weakening momentum, signaling potential for reversal.
2. Fundamental Analysis:
• If upcoming macroeconomic data (e.g., NFP, FOMC, CPI) favors USD strength, gold will likely decline.
• Higher U.S. bond yields or hawkish Fed sentiment can put downward pressure on XAUUSD.
Trade Setup
• Entry: 2775
• Stop-Loss (SL): 2785 (Above recent highs)
• Take-Profit (TP): 2755
• Risk-Reward Ratio (RRR): 2:1
This trade idea aligns with technical resistance, short-term reversal patterns, and fundamental factors favoring a potential gold decline.
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.
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.