Consolidation Continues Amid Global Holidays – Is Gold Gearing Up for Another Leg?
🌐 Fundamental Insight:
After last week’s historic rally toward $3,500/oz, gold has entered a cooling phase as markets digest evolving geopolitical developments and economic signals. The recent de-escalation in US-China trade tensions, triggered by President Trump’s plan to ease tariffs on auto parts and imports, has reduced immediate risk sentiment.
China’s response — lifting retaliatory duties on select US goods — further eased tensions, leading to a safe-haven selloff in precious metals. However, with uncertainty still looming ahead of this week’s US labour data (ADP + NFP), investors remain cautious.
Adding to this, today’s Bank Holidays in parts of Asia and Europe are contributing to reduced trading volumes. A sideways market with erratic moves is likely until the US session opens, where higher volume and stronger direction may emerge.
🔍 Technical Picture (H1 – H4 Outlook):
Gold is currently forming a compression pattern between the 3278 resistance zone and the 3196 demand area. Price is holding above key structure support near 3192, indicating buyer interest remains intact.
The market may continue to oscillate in this tight intraday range before US traders step in. All eyes are now on upcoming ADP employment data — often a lead indicator for Friday’s NFP — which could provide the next directional push.
🔺 Key Resistance Zones:
3248
3260
3278
🔻 Key Support Zones:
3230
3225
3215
3196
🎯 Trade Strategy – April 30
🔵 BUY ZONE: 3198 – 3196
Stop-Loss: 3192
Take-Profits: 3202 → 3206 → 3210 → 3215 → 3220 → 3225 → 3230
🔴 SELL ZONE: 3276 – 3278
Stop-Loss: 3282
Take-Profits: 3272 → 3268 → 3264 → 3260
🧠 Note: Short-term traders may consider scalping within the range, while swing traders can wait for a break and retest of either key zone before committing with volume.
⚠️ Things to Watch Today:
Thin liquidity due to Labour Day holidays across Asia & Europe
ADP report release in the US session (potential volatility spike)
End-of-month candle close — watch out for liquidity grabs and false breakouts
US 10Y bond yields and DXY movements will continue to influence gold sentiment
📌 Final Thoughts:
Gold is in pause mode, but not for long. The market is clearly building energy ahead of high-impact US data. With the broader trend still bullish and structure holding above 3190s, we stay cautiously optimistic — but flexible.
Risk management will be critical today. Expect the unexpected during low-volume sessions and be prepared for sharp moves when the US opens.
📈 Stay disciplined. Respect your zones. And let the data lead the way.
🌐 Fundamental Insight:
After last week’s historic rally toward $3,500/oz, gold has entered a cooling phase as markets digest evolving geopolitical developments and economic signals. The recent de-escalation in US-China trade tensions, triggered by President Trump’s plan to ease tariffs on auto parts and imports, has reduced immediate risk sentiment.
China’s response — lifting retaliatory duties on select US goods — further eased tensions, leading to a safe-haven selloff in precious metals. However, with uncertainty still looming ahead of this week’s US labour data (ADP + NFP), investors remain cautious.
Adding to this, today’s Bank Holidays in parts of Asia and Europe are contributing to reduced trading volumes. A sideways market with erratic moves is likely until the US session opens, where higher volume and stronger direction may emerge.
🔍 Technical Picture (H1 – H4 Outlook):
Gold is currently forming a compression pattern between the 3278 resistance zone and the 3196 demand area. Price is holding above key structure support near 3192, indicating buyer interest remains intact.
The market may continue to oscillate in this tight intraday range before US traders step in. All eyes are now on upcoming ADP employment data — often a lead indicator for Friday’s NFP — which could provide the next directional push.
🔺 Key Resistance Zones:
3248
3260
3278
🔻 Key Support Zones:
3230
3225
3215
3196
🎯 Trade Strategy – April 30
🔵 BUY ZONE: 3198 – 3196
Stop-Loss: 3192
Take-Profits: 3202 → 3206 → 3210 → 3215 → 3220 → 3225 → 3230
🔴 SELL ZONE: 3276 – 3278
Stop-Loss: 3282
Take-Profits: 3272 → 3268 → 3264 → 3260
🧠 Note: Short-term traders may consider scalping within the range, while swing traders can wait for a break and retest of either key zone before committing with volume.
⚠️ Things to Watch Today:
Thin liquidity due to Labour Day holidays across Asia & Europe
ADP report release in the US session (potential volatility spike)
End-of-month candle close — watch out for liquidity grabs and false breakouts
US 10Y bond yields and DXY movements will continue to influence gold sentiment
📌 Final Thoughts:
Gold is in pause mode, but not for long. The market is clearly building energy ahead of high-impact US data. With the broader trend still bullish and structure holding above 3190s, we stay cautiously optimistic — but flexible.
Risk management will be critical today. Expect the unexpected during low-volume sessions and be prepared for sharp moves when the US opens.
📈 Stay disciplined. Respect your zones. And let the data lead the way.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 7 to 15 Signals Vip
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 7 to 15 Signals Vip
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 7 to 15 Signals Vip
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 7 to 15 Signals Vip
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.