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Economic data released. Start of a new trend?The international gold market suffered a sharp sell-off, and the spot gold price once fell below the key psychological mark of $3,300/ounce, reaching a low of $3,392.59, as the US dollar index rebounded from a low of more than a month and concerns about the international trade situation cooled down. The gold price is currently in a short-term recovery phase, and the downside risk is temporarily lifted. In the long run, the expansion of the US fiscal deficit may support the gold price; but in the short term, according to the latest data released by the United States, it is conducive to the long operation of gold, and the gold price will rise briefly. Gold is strong in the short term, but traders need to take profits in time to avoid unexpected events that cause trend changes. Overall, the short-term trend of gold prices is still subject to the US dollar, interest rate expectations and economic data, and the competition for the $3,300 mark will become the key. The US economic data is within the expected range, and gold has a short upward trend. Operation strategy: Buy near $3290, stop loss at $3280, profit range at $3320-3330.
OANDA:XAUUSDLong
by Quaid-1
1
The mouth can't drive gold up 💡Message Strategy US President Trump announced that the deadline for EU trade negotiations will be extended to July 9, and at the same time withdrew the threat of a 50% tariff on EU goods originally scheduled for June 1. This decision marks a phased easing of US-EU trade tensions, leading to a significant cooling of market risk aversion. The statement of European Commission President Ursula von der Leyen revealed the key reason for the extension: "The EU needs more time to reach a comprehensive agreement that is beneficial to both sides." It is worth noting that just three days ago on May 23, Trump also threatened to impose high tariffs on EU cars and other goods in a tough manner, and even considered wielding the tariff stick against iPhones produced outside the United States. These remarks pushed the gold price up more than 2% in a single day. 📊Technical aspects At present, the direction of gold is only a correction and decline. The market is not driven by words. The idea of ​​gold trend that has been emphasized last week is to pull back to high altitudes. Facts have proved that gold cannot break through the high pressure position. All the news is filled with the atmosphere of gold rising. The truth is often in the hands of a few people. We should correctly judge the changes in the market and not blindly follow them. 💰 Strategy Package Short Position：3340-3350,3360-3370
OANDA:XAUUSDShort
by TheodoreSilas
1
Gold plummeted? Here comes the latest analysis.Today, the gold market continued its downward trend. It failed to break through the key resistance level of $3,365 in the early stage, and then fell under pressure. It is a normal price adjustment for the Asian market to break through the previous support level. The current price fluctuates around the strong support of $3,300. Coupled with several news to be released in the United States, the price trend is full of uncertainty. In this period of time, I don’t think it is suitable for shorting. From the 4-hour chart, gold has insufficient upward momentum. After failing to break through the upward resistance level for a long time, it began to decline. In the market last week, the price has always fluctuated between $3,330 and $3,365. In the narrow range of fluctuations, once a new trend appears, whether it is upward or downward, it may accelerate the price fluctuation range in a very short time; this is an instant release after accumulating energy. This is why the Asian markets suddenly started to move downward. From the current market situation, the bulls are under great pressure, which is completely different from the strong upward pattern last week. At present, the trend of gold is more dominated by weak fluctuations. Based on the current trend, we still follow the strategy of high-altitude and low-volume trading in our operations.
OANDA:XAUUSD
by Quaid-1
Gold May Undergo Short-Term Correction as USD Rebounds📊 Market Overview Gold (XAU/USD) is trading around $3,309/oz after retreating from the $3,350 region during the Asian session today. Selling pressure emerged as U.S. Treasury yields rose and the USD rebounded slightly, despite expectations of potential Fed rate cuts in the near future. 📉 Technical Analysis • Key Resistance: $3,350 • Nearest Support: $3,290 • EMA 09: Current price is below the EMA 09, indicating a short-term bearish trend. • The downtrend is confirmed by bearish candlestick patterns and increasing trading volume in recent sessions. 📌 Outlook Gold may continue its short-term correction if the USD continues to rebound and U.S. Treasury yields remain elevated. However, long-term support factors such as concerns over U.S. national debt and expectations of Fed rate cuts persist.
OANDA:XAUUSDShort
by Mian-FXSignals
Gold price pullback. How to trade?Information summary: On Monday, due to Trump's policy changes, high tariffs on the EU were suspended. The market's risk aversion sentiment has declined, and spot gold fell at the opening, but recovered some of its losses in the US market, maintaining a consolidation range of 3320-3355. When the US market opens, there must be large fluctuations. Gold recovered all the gains on Friday due to the increase in tariffs on the EU on Monday. Then, when the US market opens, it is very likely to rise sharply, and also recover the losses on Friday. And from the current gold 1-hour chart: The current trend line of gold has fallen below, and the early trading has also completed the retracement. Therefore, gold may go down next. There is a high probability that it will test the bottom support position of 3310-3300. From the daily chart: You can see that the daily chart is currently an important support position near 3300. Once it falls below 3300, it can be officially confirmed that the correction trend is coming. And the trend after the US market opens is critical. Operation strategy: Short immediately, stop loss 3335, profit range 3310-3300.
OANDA:XAUUSDShort
by Quaid-1
1
Gold continues to fluctuate. Interval analysis.Market analysis: Gold opened slightly lower on Monday and fell to around 3331 before rebounding. After being blocked near 3357, it began to fluctuate and fall. The lowest point in the European session fell to around 3324, and then the market stopped falling and fluctuated and rose. The US session continued to rise, and the daily line closed with a small negative line with a lower shadow. Gold showed a big positive trend last Friday, and closed negative on Monday for adjustment. The current 5-day moving average and the 10-day moving average form a golden cross and continue upward. This moving average pattern shows a certain bullish momentum. In the short term, focus on the support of the 5-day moving average, which is currently around 3330. When the price is above this moving average, the market fluctuates mainly on the strong side. The upper resistance level first looks at around 3365, which is the high point of last Friday. Before the price does not break through this resistance level strongly, the volatile market will remain. On the whole, today's focus will be on the support of the 3330-3326 area below, and the focus will be on the resistance near 3365 above. Operation strategy: Short at rebound near 3365, stop loss at 3375, profit range 3345-3330 Long at retracement near 3326, stop loss at 3316, profit range 3350-3370
OANDA:XAUUSD
by Quaid-1
Gold bulls advance as expected Mainly go long on pullback.Today, gold opened lower and fell, reaching the lowest level of 3331. Then the bulls exerted their strength, reaching the highest level of 3356 and then adjusted back. The overall trend was highly consistent with the expected judgment. Looking back at the market last week, the technical side of gold continued the bullish pattern, and the oscillating upward trend was significant. From the daily level, the price repeatedly tested around the 3200 mark at the beginning of the week, and finally stabilized successfully, laying a solid foundation for the bull market. On Friday, it was supported by the 3280 mark, continuing the strong oscillating upward trend, forming a reverse middle Yang pattern, and the daily K line closed with an oscillating upward break of the middle Yang, fully demonstrating the short-term bullish pattern of gold prices, and bullish expectations continued to heat up. ​ Based on the current gold trend analysis, the focus below is on the 3330-3320 range support, and the focus above is on the 3380-3400 resistance. In terms of overall strategy, the bullish thinking is maintained before breaking 3320 to avoid blindly guessing the top.
OANDA:XAUUSDLong
by TP_Daniel5
Gold plunges. Downside meets?Spot gold fluctuates at high levels during the Asian session and is currently trading around $3,330. I think spot gold is expected to fall below the immediate support level of $3,330 per ounce and fall towards $3,284. Completion occurs near the key resistance level of $3,366, which is reinforced by similar resistance established by the descending trend line. Working together with these obstacles is another obstacle, namely $3,355, which is the retracement level of the downtrend from $3,501 to $3,120. The bearish divergence of the hourly RSI confirms that the rally has been exhausted and a sharp correction is imminent. Based on the changes in the Asian market today, an analysis was conducted. I hope my analysis can help you turn losses into profits in the trading market. Operation strategy: Short at $3,340, stop loss at $3,355, and profit range of $3,310-3,300.
OANDA:XAUUSDShort
by Quaid-1
Gold May Face Short-Term Correction Amid Strong Resistance📊 Market Overview: Gold (XAU/USD) is trading around $3,335, retreating from a two-week high of $3,345.48. The US Dollar's weakness, driven by fiscal concerns and President Trump's extension of the EU tariff deadline to July 9, has supported gold prices. However, the easing of global trade tensions has limited the precious metal's upside . 📉 Technical Analysis: • Key Resistance: $3,350, $3,364 • Nearest Support: $3,330, $3,300 • EMA 09: Price is trading near the EMA 09, indicating a neutral trend. • RSI (14): 69.311 – approaching overbought territory, suggesting potential correction. • MACD (12,26): 13.57 – bullish signal, but momentum is slowing. • Williams %R: -17.476 – in overbought zone, indicating possible short-term pullback . 📌 Outlook: Gold may experience a short-term correction if it fails to break above the strong resistance at $3,350. Sustained trading below this level could lead to selling pressure, especially as technical indicators point to overbought conditions. 💡 Suggested Trading Strategy: • SELL XAU/USD at: $3,345 – $3,350 🎯 TP: $3,330 ❌ SL: $3,355 • BUY XAU/USD at: $3,300 – $3,310 🎯 TP: $3,340 ❌ SL: $3,290
OANDA:XAUUSDShort
by Mian-FXSignals
Trump's tariff measures trigger market shocks 📌 Driving events Last Friday, as Trump threatened to raise tariffs on the European Union to 50%, and also pointed the finger at smartphone manufacturers such as Apple and Samsung, the market's risk aversion sentiment suddenly heated up, and spot gold closed up nearly 2% on the day. On Sunday local time, US President Trump announced after a call with European Commission President von der Leyen that he would extend the deadline for the European Union to face 50% tariffs to July 9. Trump told reporters on his way back to Washington on Sunday: "We had a very pleasant call, and I agree to postpone the deadline." Bloomberg analysis said that there are signs that US President Trump may relax his radical stance on EU trade, which will affect gold's safe-haven status. At the geopolitical level, the conflict between Israel and Iran is imminent. The Israeli army's shooting of a diplomatic delegation has triggered international condemnation. Netanyahu has maintained a tough stance in the Israeli-Kazakh conflict; Trump's mediation of a ceasefire between Russia and Ukraine has been frustrated. The Wall Street Journal revealed that when he spoke with the European side, he said that Putin believed that the Russian army was "winning", which contradicted his public statement. This week, the market focus shifted to the Fed's policy minutes, the Bank of Japan's rate hike expectations, European and American economic data, and OPEC+'s production increase plan. The interweaving of trade frictions, debt risks and geopolitical conflicts has kept the uncertainty of the global pattern high. 📊Comment Analysis The first support level for gold prices may be in the range of $3290-3300/ounce. If it falls below the above support, the next support for gold prices will be $3250/ounce and $3200/ounce (50-day moving average). On the upside, the first resistance for gold prices is $3370/ounce. If this obstacle is overcome, the next resistance for gold prices will be $3430/ounce and $3500/ounce (historical high). Labaron will digest a series of economic data to be released by the United States this week, such as durable goods and home sales, as well as the consumer confidence index. The U.S. stock market will be closed on Monday due to the Memorial Day holiday. 💰Strategy Package ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone : 3388- 3390 SL 3395 TP1: $3376 TP2: $3363 TP3: $3350 🔥BUY GOLD zone: $3301- $3299 SL $3294 TP1: $3312 TP2: $3325 TP3: $3338 ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds - Profit is 4-7% of the capital account - Stop loss is 1-3% of the capital account
OANDA:XAUUSDLong
by Labaron
1
Gold Rises on Tariff News, But Caution NeededGold prices surged after the U.S. President announced a 50% tariff on EU imports, triggering safe-haven demand. However, analysts warn that this may be a short-term FOMO reaction rather than the start of a sustainable rally. 📰 Key Drivers: - The tariff announcement spooked markets, boosting gold temporarily. - The U.S. dollar dipped slightly, but bond yields remain high – a bearish sign for gold. - No immediate EU retaliation weakens the long-term bullish case. 🔍 Technical Outlook: - Resistance: $3350 – being tested but not yet clearly broken. - Support: $3310 – may be revisited if upward momentum fades. - EMA 09: Price remains above, but fading volume and long upper wick suggest weakening strength. - Price Action: Sharp move looks emotion-driven; correction likely if no follow-up catalyst appears. 📉 Short-Term View: Despite the surge, gold’s rise may be temporary. If no escalation occurs, a short-term pullback is likely as markets reassess the impact. 💡 Suggested Trade Setup (Short-Term Bearish): SELL XAU/USD at 3345 – 3350 🎯 TP: 3330 ❌ SL: 3355 BUY XAU/USD at 3310 – 3312 🎯 TP: 3325 – 3327 ❌ SL: 3305
OANDA:XAUUSDShort
by Mian-FXSignals
Tariffs are on the rise again, gold is jumping.Information summary: The Trump administration has once again launched a tariff war, threatening to impose a 50% tariff on the EU from June 1, and said that the negotiations between the United States and the EU have made no progress. Because the timing of this threat is quite delicate. Just earlier this week, the EU just submitted a new framework proposal to the US to restart bilateral trade negotiations. This directly led to a jump in gold. Faced with the tough stance of the United States, the EU is not without countermeasures. It is reported that the EU has formulated a contingency plan. If the negotiations fail, it will impose additional tariffs on US exports worth 95 billion euros in response to Trump's "reciprocal" taxation and 25% tariffs on automobiles and some parts, which will inevitably cause further impact on the market. Market analysis: Today, the European session was under pressure at 3335 and the correction method was adopted. This correction method can better show that the price is strong, and the bulls are not willing to give the bears too many opportunities. Therefore, the layout should be aggressive. The stronger the market, the less likely it will fall back. At the same time, the correction of the strong market will definitely not break the low for the second time. Operation strategy: Short near 3375, stop loss at 3380, and target 3350-3340. The price fell back to around 3335, and we will adopt a long strategy based on the downward trend.
OANDA:XAUUSDLong
by Quaid-1
Tariff threat. Gold prices rose sharply?Information summary: Gold prices climbed in the short term during trading after Trump threatened to impose new tariffs on the European Union, as this increased market uncertainty and increased demand for safe-haven assets. Trump said in a post on Truth Social that he suggested a 50% tariff on the European Union starting June 1, and complained that trade negotiations were stalled. After the news came out, gold prices rose rapidly, breaking the $3,345 resistance level, but did not stabilize above the $3,365 resistance level I predicted in the morning; it reached a high of around $3,360 and then fell back slightly. I think the short-term gains have been too large, and if there is a rapid adjustment, the amplitude will also be large. Technical analysis: From the 4-hour chart, gold prices continue to trade above all moving averages, and the 20-day moving average has broken through the 100-day and 200-day period moving averages. At present, indicators show that the upward momentum is not very strong. If the price breaks through the 3365 resistance level strongly, it may hit the cycle high of around 3380. Because of the weekend, if the resistance level fails to be broken strongly, the price may adjust in the range of 3360-3330 US dollars, and a new trend needs to be found.
OANDA:XAUUSD
by Quaid-1
Will gold continue to rise? Be alert on Friday.On Thursday, the US dollar rebounded after three consecutive days of decline and once returned to above the 100 mark, but failed to stand firm here. It is still maintaining at the 100 mark for consolidation. Due to the strengthening of the US dollar, gold began to retreat after hitting a high of 3345 yesterday, and once lost the 3300 US dollar mark, with the lowest reaching around 3280. First of all, from the current 4-hour chart of gold: In the Asian session, the lowest gold touched around 3290, and then rebounded. As of now, the highest reached around 3330. At present, 3310 should be a relatively important support position for gold. If it can be maintained above 3310, then gold may continue to rise. It can also be seen from the figure that once it continues to rise, 3345 is likely to be refreshed, and the highest should be around 3360. From the 1-hour chart: 3280-3330 range, around 3310 is exactly the current 618 position. Therefore, if gold cannot pull back below 3310 again, it is highly likely that it will continue to reach a new high. Secondly, as time goes by, the early low of 3290 can no longer be touched, and the current support is already near 3300. That is to say, it cannot fall below 3300 again. Once it falls below 3300, gold will refresh the low of 3280 and continue to fall. Operation strategy: If it can retreat to 3310 and stabilize, then we will go long at 3310. On the contrary, if it falls below 3310, then we will focus on 3300. Once it falls below 3300, the trend will go down. Then you can short at 3290-3300, and the profit range is around the early intensive trading area of 3260-3250.
OANDA:XAUUSD
by Quaid-1
Gold May Continue Rising – Signs of Short-Term Recovery EmergingGold is showing a strong recovery from the recent low of $3280/oz and has now surpassed the key resistance at $3325, currently trading around $3330. The upward momentum remains intact as gold continues to trade above the EMA 09, indicating that bulls are still in control in the short term. There is a possibility that gold could retrace slightly to the $3310 zone to gather momentum before pushing higher toward the next resistance at $3350. Key factors supporting the short-term bullish outlook: • The US dollar has temporarily weakened after economic data came in less impressive, giving gold room to rise. • Gold demand has seen a slight rebound from ETFs after recent sell-offs. • Geopolitical tensions in the Middle East and cautious sentiment in equity markets continue to support gold as a safe-haven asset. 🔍 Technical Analysis: • Price remains above the EMA 09, indicating the bullish trend is still intact. • Nearest support: $3310 – could be an attractive entry point for buyers. • Next resistance: $3350 – serves as the immediate upside target. • Bullish candlestick patterns are forming with no strong reversal signals so far. 💡 Suggested Trade Strategy (Short-Term Bias: Bullish): • BUY XAU/USD at 3310 – 3312 🎯 TP: 3325 – 3327 ❌ SL: 3307 • BUY XAU/USD at 3320 – 3322 🎯 TP: 3335 – 3337 ❌ SL: 3317
OANDA:XAUUSDLong
by Mian-FXSignals
How will the price of gold go? Prospect analysis is here.In the Asian session, spot gold rebounded modestly after a sharp drop in the previous trading day, and the price of gold is currently around $3,330. Gold prices lost some upside momentum on Thursday, but downside remains limited. Gold prices suffered a correction on Thursday, ending the previous three consecutive trading days of gains, mainly due to the rebound of the US dollar and traders taking profits after the price of gold hit a two-week high. Spot gold closed down $20.14, or 0.61%, at $3,294.81 per ounce on Thursday. We see gold encountering some profit-taking selling pressure after its recent gains, while a stronger U.S. dollar index is another bearish factor. However, affected by the turmoil in the global bond market, the gold market continues to be bullish and the decline is limited. Short-term technical analysis: Looking at the gold daily chart, the high point of gold prices on Thursday moved up from the previous trading day, while the low point moved down. Buyers continue to defend on the downside near the flat SMA 20-day, which provides support near $3,288.00. The 100-day and 200-day moving averages continue to move upwards at levels well below current gold prices, consistent with the dominant bullish trend. Finally, technical indicators have lost bullish power but are flat within positive levels, limiting the possibility of further declines. Looking at the 4-hour chart, there is no sign that gold will fall further. Gold prices continue to trade above all its moving averages, with the 20-period SMA crossing above the directionless 100-period SMA and 200-period SMA. Meanwhile, technical indicators are moving lower, but with limited downside power, they remain above their midlines. Short-term focus on important support and resistance levels: Support: $3,290; $3,270; $3,250. Resistance: $3,325; $3,345; $3,360. I hope my analysis can help you make profits easily in the trading market.
OANDA:XAUUSD
by Quaid-1
Gold starts to go down? Double opportunities.Analysis of Asian market trend: To summarize the short-term trend, "continue to step back and continue to seek key support". Gold rose and then fell in the Asian market yesterday, and the final rebound stopped at 3350. The trend is in line with our short-term bearish expectations. As for the market falling and breaking, it is a normal market. This means that the adjustment needs to continue. Today, the main focus below is still the support level of 3280. The early decline has approached this point, but it has not been completely touched; if this position is not broken, the bullish rebound is still there and it will rise at any time. Operation adjustment, mainly low and high, supplemented by high and low, look at the shock sideways, wait for the market to break through the range and gradually look down; then the two main points of short-term focus, if the downward trend does not break 3280, then the rebound will first look at the high point of 3320. Strong breakthrough and stabilization at this position, if it does not break through yesterday's high point, it will continue to be mainly shocking; at the same time, unlike the previous consecutive rises in the past few weeks, this week's trend is slightly weak, and it is almost the weekend, so let's look at the amplitude of the range trend first. Operation strategy: Short around 3320, stop loss at 3328, target at 3290; Long around 3280, stop loss at 3270, target at 3315. Short-term trading is temporarily operated in this range, and a new layout will be made if it breaks.
OANDA:XAUUSD
by Quaid-1
1
Dangers and opportunities for gold? Trend change?In early Asian trading, spot gold fluctuated in a narrow range and is currently trading around $3,300. After rising in the first three trading days of this week, gold prices briefly hit a two-week high of $3,345 in Asian trading on Thursday, then fell sharply and finally closed around $3,294. This rapid change hides the fierce struggle between the strengthening of the US dollar, the turmoil of US bonds and geopolitical changes. The rebound of the US dollar is the biggest pressure for the rise in gold prices. Another major pressure on the gold market comes from the sharp fluctuations in US bond yields. The 30-year US bond yield hit a 19-month high, reflecting the market's deep concerns about the $3.8 trillion in new debt. The cold auction of $16 billion in 20-year US bonds on Wednesday further confirmed the judgment that the demand for sovereign bonds is undergoing structural changes. The current gold market is being pulled by multiple forces. In the short term, the technical rebound of the US dollar and the selling of US bonds do pose pressure. But in-depth analysis shows that the pressure of currency depreciation brought by the $3.8 trillion fiscal expansion, the safe-haven demand caused by the damaged credit of US debt, and the risk of stagflation are three factors that are building long-term support for gold. I think the shadow of global bond market turmoil will become a potential factor for the bullish gold market. There are relatively few economic data during Asian trading hours. The focus should be on the annualized total number of new home sales in the United States in April after seasonal adjustment and the speeches of Federal Reserve officials, as well as news related to the geopolitical situation and the international trade situation. I will also analyze the latest international news and its impact on gold prices for you as soon as possible. Short-term operation strategy: First rise: short near 3345, stop loss 3255, profit range 3280-3270. First fall: long near 3275, stop loss 3265, profit range 3300-3310.
OANDA:XAUUSD
by Quaid-1
Gold Remains Under Pressure – Further Decline Likely Not OverGold has touched the key support level at $3290/oz as expected and is now hovering around $3295, indicating that the downward momentum remains intact. Recent U.S. economic data has been positive for the U.S. dollar, adding to short-term pressure on gold. ➡️ The strong data reinforces the Fed’s hawkish stance , increasing expectations that interest rates will remain elevated for longer. As a result, both the U.S. dollar and Treasury yields have risen, weighing heavily on gold prices. 🔍 Technical Analysis: • Price is tracking below the EMA 09 , suggesting the downtrend is still in play. • The $3290 support has been tested; a break below this level could open the door to the next target at $3225. • A consistent bearish candlestick pattern shows no clear signs of reversal. • Lack of strong buying interest at current levels suggests further downside is likely. 💡 Suggested Trade Strategy (Short-Term Bias: Bearish): • SELL XAU/USD in the $3294 – $3297 zone 🎯 TP1: $3275 🎯 TP2: $3225 ❌ SL: $3305 • BUY XAU/USD only if price pulls back to the $3225 zone with clear support signals 🎯 TP: $3260 – $3270 ❌ SL: $3210
OANDA:XAUUSDShort
by Mian-FXSignals
Gold is going down? Is the trend going to change?The previous rally continued in the early Asian session on Thursday, reaching a high of around 3345. However, it then began to fall rapidly. So far, gold has fallen below the 3300 mark again, with the lowest point reaching around 3280. From the daily chart: Gold is currently at 3280, which is the moving average support position. If it falls below 3280, the market will test 3250-3260 below. This position is not only the current daily moving average support position, but also an important barrier position in the past. This is an important suppression position for the upward trend of gold this time. Similarly, if it wants to fall, 3250-60 is also an important support position. Secondly, let's look at the 4-hour chart: If it really falls below the bottom of the range at 3280, then as I said above, it will test 3250-3260. However, if it fails to break the support near 3280, it is very likely to maintain consolidation in the 4-hour range. And from the range point of view, the fluctuation range is very large. It is basically maintained in the range of 3320-3280, which is about 40 US dollars. I suggest that we should still pay attention to whether the support here at 3280 can stabilize. If it can stabilize at this position, and there is a bottom signal at 3280, then you can go long near 3280. Sell high and buy low according to the range of 3280-3320. On the contrary, if it falls below the support of 3280, don’t go long. It is very likely to directly test the support position of 3250-60 later.
OANDA:XAUUSD
by Quaid-1
1
Gold Shows Clear Signs of Weakness – Short-Term Downtrend LikelyGold is showing clear signs of weakness after failing to break the strong resistance level at $3350/oz. Bullish momentum has faded as gold broke below the $3325 support and continued its decline, now trading around $3310. Current technical signals indicate that the downtrend remains dominant, and there is a high probability that gold will continue correcting toward the $3290 support level, possibly even testing the $3225 area if the bearish pressure persists. 📰 Key Economic Data Scheduled for Today (U.S.): • Unemployment Claims • Flash Manufacturing PMI • Flash Services PMI These reports could trigger strong short-term volatility, especially if the data is positive and strengthens expectations that the Fed will maintain a tight monetary policy. This scenario could put further downward pressure on gold, as the USD strengthens and Treasury yields rise. ⚠️ Recommendation: Investors are advised to avoid trading during news releases to minimize risk from high volatility. 🔍 Short-Term Technical Analysis: • Key Resistance: $3350 – remains unbroken, confirming weakening buying power. • Nearest Support: $3290 – crucial level to monitor if the downtrend continues. • Deeper Support: $3225 – could be tested if no strong rebound occurs. • Short-Term EMA: Price is currently below the EMA 09, signaling further downside momentum. • Bearish Candlestick Pattern: Series of long red candles reinforce the ongoing bearish trend. 💡 Short-Term Trade Scenarios: SELL XAU/USD Zone : 3325$ - 3328 💰 TP : 3310 - 3313 🚨 SL $3335 BUY XAU/USD Zone: 3288$ - 3290$ 💰 TP : 3313 – 3315 🚨 SL $3283
OANDA:XAUUSDShort
by Mian-FXSignals
Gold consolidates. Changing trend?Asian market: Gold continues to rise, and the current highest is near the high of $3345. The next trend is very critical, let's look at it from the 4-hour chart. It can be seen that there is absolute suppression at $3340. It is just near the top of the trend line, and it is difficult to break through directly. Therefore, it will definitely be maintained near $3340 for consolidation in the future. In addition, from the 1-hour chart: I think the most critical bottom support position today is $3315. As long as gold is above this point, it will be in a consolidation and rise, or it will be maintained at $3315-3340 for consolidation. The position above that needs to be paid attention to is near $3350. Once it breaks through $3340 and stabilizes above $3350, gold may rise further to test $3360-3370. However, if gold falls below $3315, it may trigger a sharp decline. Operation strategy: I suggest you focus on the fluctuation range of 3315-3340 USD and buy low and sell high. However, it should be noted that once the upper or lower range is broken, you should be alert to the possible trend change.
OANDA:XAUUSD
by Quaid-1
1