📊 XAUUSD – Make-or-Break Zone Ahead for Gold Bulls
Gold is hovering at a crucial weekly trendline support zone while consolidating in a descending triangle pattern. Price action suggests a decisive move is coming soon — either a bullish breakout above the short-term resistance or a sharp breakdown below $2,960, targeting the $2,828 zone.
🔍 Technical Breakdown:
Price is respecting a rising channel on the higher timeframe.
A lower high structure is forming below resistance at $3,085, indicating compression.
Key support rests at the confluence of the weekly trendline and horizontal zone around $2,960.
A breakdown from this triangle could trigger a bearish move toward $2,828, while a breakout above $3,085 opens the door for a retest of $3,200.
🌐 Fundamental Drivers:
Gold remains supported by geopolitical tensions and central bank demand.
However, hawkish Fed comments and stronger U.S. dollar sentiment are pressuring short-term upside.
The upcoming U.S. CPI and FOMC minutes could add volatility and define the next leg.
📌 Watch for a 4H or Daily close outside the triangle for confirmation. Until then, this remains a high-probability reaction zone for short-term traders.
🧠 Trade with structure. React, don’t predict.
#XAUUSD #Gold #TechnicalAnalysis #PriceAction #Fundamentals #TradingView #Forex #Commodities #MarketOutlook
Gold is hovering at a crucial weekly trendline support zone while consolidating in a descending triangle pattern. Price action suggests a decisive move is coming soon — either a bullish breakout above the short-term resistance or a sharp breakdown below $2,960, targeting the $2,828 zone.
🔍 Technical Breakdown:
Price is respecting a rising channel on the higher timeframe.
A lower high structure is forming below resistance at $3,085, indicating compression.
Key support rests at the confluence of the weekly trendline and horizontal zone around $2,960.
A breakdown from this triangle could trigger a bearish move toward $2,828, while a breakout above $3,085 opens the door for a retest of $3,200.
🌐 Fundamental Drivers:
Gold remains supported by geopolitical tensions and central bank demand.
However, hawkish Fed comments and stronger U.S. dollar sentiment are pressuring short-term upside.
The upcoming U.S. CPI and FOMC minutes could add volatility and define the next leg.
📌 Watch for a 4H or Daily close outside the triangle for confirmation. Until then, this remains a high-probability reaction zone for short-term traders.
🧠 Trade with structure. React, don’t predict.
#XAUUSD #Gold #TechnicalAnalysis #PriceAction #Fundamentals #TradingView #Forex #Commodities #MarketOutlook
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.