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Bearish drop?The Gold (XAU/USD) is rising towards the pivot, which has been identified as an overlap resistance, and could drop to the 1st support, acting as a pullback support. Pivot: 3,339.40 1st Support: 3,297.74 1st Resistance: 3,389.16 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAUUSDShort
by ICmarkets
3
XAUUSD Technical Outlook – Rebound or Trap?1. Market Overview After a sharp rejection near the 0.618 Fibonacci level, XAUUSD has pulled back and is now trading around 3,323 USD. Although price has stabilized somewhat, technical indicators suggest this is likely a corrective move within a prevailing downtrend. 2. Technical Analysis Price Action XAUUSD is currently hovering near 3,323 USD after a failed attempt to break above the resistance zone at 3,373–3,392 USD — an area marked by: The 0.618 Fibonacci retracement from the recent downtrend Repeated historical rejections. The upper boundary of a sideways consolidation range from early June. Recent candlesticks show indecision and rejection from higher levels, suggesting sellers are still in control. Support Zone Behavior The price recently bounced from the 3,294–3,317 USD range, where strong historical support and the 0.382 Fibonacci level align. This zone continues to hold, but if broken, could open the door to deeper declines toward the 3,250 or even 3,224 USD levels. RSI Indicator RSI remains flat around the neutral zone, indicating a lack of bullish momentum. No significant divergence or breakout signals are currently visible on the daily RSI chart. 3. Key Technical Levels Resistance: 3,373 – 3,392 USD: Confluence resistance zone (0.618 Fib + historical supply). 3,435 – 3,453 USD: Previous swing high – key medium-term benchmark Support: 3,294 – 3,317 USD: Immediate support, holding for now. 3,250 – 3,224 USD: Potential next target zone if bearish pressure resumes. 4. Trade Setup Scenarios. Scenario 1 – Buy if support holds and bullish confirmation appears Entry: 3,295 – 3,305 USD. Stop-loss: Below 3,289 USD. Take-profit: 3,340 – 3,355 – 3,370 USD. Condition: Look for bullish reversal patterns (e.g., Bullish Engulfing, Pin Bar) on H1–H4. Scenario 2 – Sell on rejection from resistance zone Entry: 3,370 – 3,375 USD. Stop-loss: Above 3,392 USD. Take-profit: 3,330 – 3,310 – 3,290 USD. Condition: Clear bearish rejection candlestick with diminishing volume Note: XAUUSD remains in a vulnerable state. The current move may be a technical rebound rather than a true reversal. Traders should watch closely how price behaves around the 3,373–3,392 USD zone in the coming sessions. A breakout could signal a new bullish leg, while another rejection would likely confirm a continuation of the bearish trend.
OANDA:XAUUSD
by Henrybillion
2
The downward trend is strong.The easing of the situation in the Middle East weakens the demand for safe havens The direct trigger for the decline in gold prices was the news that Israel and Iran announced a ceasefire. This news quickly cooled the market's risk aversion, and the attractiveness of gold as a traditional safe-haven asset weakened. In the past few weeks, the military confrontation between Israel and Iran once pushed up the safe-haven buying of gold, but with the conclusion of the ceasefire agreement, the market quickly turned to risk preference mode, global stock markets rose, and the US dollar fell. This change in market sentiment directly led to the decline in gold prices. This decline will still intensify, pay attention to your trading orders, I will continue to update this article, I wish you a smooth trading.
PYTH:XAUUSDShort
by J-Prof
1
Gold - This is the official top!Gold - TVC:GOLD - might top out soon: (click chart above to see the in depth analysis👆🏻) Since Gold confirmed its rounding bottom in 2019 it rallied more than +200%. Especially the recent push higher has been quite aggressive, squeezing all bears. But now Gold is somehow unable to create new all time highs, which could constitute the a top formation. Levels to watch: $3.500, $3.000 Keep your long term vision🙏🙏 Philip (BasicTrading)
TVC:GOLDShort
by basictradingtv
Bearish direction remains unchanged, wait patiently Since the sharp drop in gold last Monday (June 16), except for the correction of closing the cross positive line last Tuesday, the daily level has closed five consecutive negative lines since last Wednesday until now, fully demonstrating the weak characteristics of gold prices in recent trading. From the technical indicators, the 5-day moving average and the 10-day moving average have formed a dead cross, which is an important signal of the weakening of the short-term market trend. The current gold price continues to run below these two moving averages, further verifying the current market situation where the shorts dominate. There is still no big fluctuation in the intraday, short positions are patiently waiting, and the operation still maintains our target of 3310-3305 unchanged.
OANDA:XAUUSDShort
by jiqeu1
The golden storm is coming again, are you ready?Gold rebounded after falling back to 3333 in the first wave, and then rebounded to 3357 in the second wave before falling again, breaking through the previous low of 3333 and accelerating down to 3316. Currently, the short-term trend has stabilized in the 3316 area, which is also the support level for multiple rebounds in the previous period. After continuing to fall today, it has not broken through. We have arranged long orders in the 3316-3317 area in advance and have taken profits near 3331. Gold rebounded after stepping back again. Our long order plan is still in position. If the subsequent rebound breaks through the 3333 line, it is expected to further rise to the 3340-3348 area. We will try to short in this area. In the short-term structure, the upper resistance focuses on the 3340-3348 area, and the lower support focuses on the 3310-3315 area. 3300-3305 is the watershed between the strength of long and short positions in the short term. The daily level is still under pressure as a whole, and the main idea of ​​high altitude continues. Gold operation strategy: short gold when it rebounds to around 3340-3348, target the 3330-3320 range.
OANDA:XAUUSDShort
by TP_Daniel
Analysis and layout of the latest gold trend in the evening📰 Impact of news: 1. The ceasefire agreement reached earlier did not take effect, and Trump believed that both sides violated the agreement 2. Federal Reserve Chairman Powell delivered a speech 3 hours later 📈 Market analysis: After falling below the 3300 mark, gold hit the 3295 line and then rebounded. However, there are too many long orders at the current high level of gold, and the market will not rise easily. The current international situation is so tense, and gold is still slowly declining. It is difficult to rebound sharply in this situation. In the short term, focus on 3290-3280 below. If effective support is obtained, you can go long and look towards 3300-3310. If it falls below the support line of 3290-3280, the downward channel of gold will be opened and it is expected to reach 3265. At the same time, pay attention to the 3328-3338 resistance range on the upside. If the first rebound in the evening encounters pressure and resistance here, you may consider shorting. 🏅 Trading strategies: SELL 3328-3338-3400 TP 3310-3300-3295 BUY 3290-3280 TP 3300-3310 If you agree with this view, or have a better idea, please leave a message in the comment area. I look forward to hearing different voices. TVC:GOLD FXOPEN:XAUUSD FOREXCOM:XAUUSD FX:XAUUSD OANDA:XAUUSD
OANDA:XAUUSDShort
by AllenBoswell-2
Gold is under pressure and continues to focus on weekly support The Israeli-Iranian conflict that broke out on June 13th lasted for 12 days before a ceasefire agreement was reached. Iran retaliated against the US military base but did not block energy transportation. Trump called its response weak, and market concerns cooled. Gold and oil prices gave up their gains. Spot gold closed at $3,368.98 per ounce, close to flat. U.S. crude oil fell 9% from a 5% increase. Trump announced on Tuesday that Israel and Iran had reached a ceasefire agreement. After mediation by Qatar, Iran agreed, and Israel also hoped to end the conflict within a few days. Gold fell as the situation eased and the demand for safe-haven assets weakened. Oil prices fell more due to the lack of risk in the Strait of Hormuz, and U.S. stock index futures rose. Federal Reserve Vice Chairman Bowman unexpectedly said that interest rates may be cut in July. U.S. Treasury yields fell and the U.S. dollar index fell, but did not support gold prices. The U.S. economy is facing inflation and growth slowdown pressure. If the situation in the Middle East worsens, oil prices may soar, exacerbating the risk of stagflation. Short-term ceasefires and differences with the Federal Reserve suppress gold prices. Medium- and long-term geopolitical risks and expectations of interest rate cuts support gold. Investors can pay attention to relevant developments and diversify their allocations. In terms of gold, the overall price of gold fell on Monday. The highest price rose to 3396.68 on the day, and the lowest price fell to 3346.92, closing at 3368.94. On Monday, gold jumped higher in the early trading, and then came under pressure again. It continued to rise after the European and US trading to test the opening high. The price fell very weakly overnight, and finally ended with a big negative. At present, gold is still in a volatile decline. From a multi-cycle analysis, first observe the monthly rhythm. The price ran according to the rhythm in May as the author said, and finally in a cross state. For June, focus on the gains and losses of the highs and lows in May. The price will only be a real break if it really closes above this position. The long-term watershed is at 2780. From a weekly level, the gold price is supported by the 3280 regional support level. From a mid-term perspective, we are still in a mid-term bullish position, but we need to pay attention to the market's retracement to the weekly support. At the same time, the price will be further under pressure only if it breaks the weekly support. From the daily level, the price breaks the 3365 daily watershed. The overall follow-up still focuses on the pressure performance, and the focus below is on the retracement to the weekly support. At the same time, according to the four-hour level, we need to pay attention to the 3360 position temporarily. Since gold is currently in a volatile decline, it will continue to be short before breaking 3405. In the short term, we will first focus on the four-hour and daily resistance pressure, and focus on the 3320 and 3280 area support below. Gold 3360 and 3365 range is under pressure, and the target is 3320-3280
TVC:GOLDShort
by jiqeu1
Gold Pulls Back to 3332 Before Mild Rebound📊 Market Overview: This morning, gold dropped sharply to $3,332/oz, marking the lowest level in recent sessions, due to profit-taking after the early-week rally and a slight recovery in the USD. However, dip-buying interest returned near key support, pushing the price back up to around $3,350/oz. The market remains sensitive to Middle East geopolitical headlines and comments from Fed officials scheduled throughout the week. 📉 Technical Analysis: • Resistance: $3,360 – $3,370 • Support: $3,332 – $3,340 (tested this morning) • EMA 09: Price is currently below EMA09 ($3,355) → short-term trend remains slightly bearish • Momentum / Volume / Candlesticks: o H1 candle shows a bullish hammer formation at $3,332 → signal of potential short-term rebound. o RSI recovered from oversold (<30) to ~42 → mildly positive signal. o StochRSI indicates short-term buying pressure, but a break above $3,355 is needed to confirm a reversal. 📌 Outlook: Gold may see a mild recovery toward the $3,360–3,370 area if buying interest holds near the $3,330 support. However, failure to break above $3,370 could lead to a pullback during the US session. 💡 Suggested Trading Plan: 🔻 SELL XAU/USD at: $3,365–3,370 🎯 TP: $3,345 (~20) ❌ SL: $3,375 🔺 BUY XAU/USD at: $3,332–3,340 🎯 TP: $3,355 (~20) ❌ SL: $3,325
OANDA:XAUUSDLong
by Mian-FXSignals
Gold remains weak and is expected to fall below 3,300 Gold fell today due to the news of a comprehensive ceasefire in the Iran-Israel conflict. In addition, as Fed officials claimed that there was no need to cut interest rates at present, expectations of interest rate cuts fell, the dollar strengthened, and gold was under pressure. In the short term, it may continue to fall and further test 3291 to 3285. Therefore, today we should continue to operate short, pay attention to 3336-38 to suppress shorts, defend 3346, and look at 3300/3285 support. Gold short-term trading: short near 3336, stop loss 3346, take profit 3300
TVC:GOLDShort
by jiqeu1
XAUUSD Outlook: Watching FVG Reaction for Bearish EntryThe previous day’s up-close candle didn’t reflect strong bullish conviction. Although price opened higher than the previous candle’s close, it closed only slightly above — completing the three-candle formation required to establish a Fair Value Gap (FVG). As expected, buy-side liquidity above the previous day’s high has been raided. Price is now pushing towards the consequent encroachment of the FVG. How the market reacts at this level will be key in determining the next directional move. While I maintain a bearish bias, I expect the market to trade higher into a bearish order block, providing a potential opportunity to enter short. If price does not react from the current FVG, it could continue higher to sweep liquidity resting above the swing high at 2357.82, which sits just below another unfilled FVG. Entry Strategy I will look to enter short only after a clear displacement, signalling a change in state of delivery, either: Off the reaction from the current FVG, or From a deeper liquidity zone If no such confirmation presents itself, I will remain on the sidelines and wait for a more favourable setup. Thanks for your support! If you found this idea helpful or insightful, please drop a like 👍 and leave a comment — I’d love to hear your thoughts! 🚀 Follow me for more daily price action insights and trading strategies on XAUUSD and other key markets. Let’s grow and trade smarter together! 📈 Disclaimer: This content is for educational and informational purposes only and does not constitute financial or investment advice. All trading involves risk. You are solely responsible for your own decisions, so always conduct proper research and due diligence before taking any trades. Past performance is not indicative of future results. Trade responsibly.
CAPITALCOM:GOLDShort
by AbdulMujibOnimisi
Continue to short gold！Gold prices rose modestly on Wednesday, mainly benefiting from the US dollar index hovering at a one-week low and the low US bond yields, which boosted the purchasing power of non-dollar investors. The market is closely watching the situation in the Middle East, and the fragile ceasefire between Israel and Iran is still uncertain. However, as the conflict between the two sides has temporarily eased, the geopolitical risk premium that had previously pushed up gold has gradually dissipated, and safe-haven funds have continued to flow out of the gold market, limiting the room for gold prices to rebound. Technically, gold closed with a big negative line on the daily line, recording the seventh consecutive week of decline, which significantly undermined the recent bullish pattern. The current market sentiment is clearly bearish. After the sharp drop last night, there may be a technical adjustment today, but the 3347-level high point above has become a key resistance. If it cannot be broken, the short-term pressure situation will remain unchanged. The downward support focuses on the 3300-level area. If it is lost, it may further test the previous low of 3290, or even fall to the important turning point of 3274. Overall, the decline of the US dollar brings short-term respite, but the technical selling pressure and the fading of risk aversion continue to suppress the rebound momentum of gold. It is expected to maintain a weak and volatile trend in the short term.
PYTH:XAUUSDShort
by J-Prof
Gold rebound is blocked, 3333 line is directly short After the continuous rebound, the gold price also showed obvious stagflation near 3340. The intraday hourly line went out of a small double top, which can also be said to be a weak rebound. We also said at the opening that 3340 is a short-term key long-short conversion position. At present, the gold price is still under pressure below this, which means that the market is still short. Then the gold price began to fall. There is no problem with our thinking, and our internal strategy also started shorting directly at the 3333 line. The current position is making a profit. The market is weak, there is no doubt about it. There are only two conditions that can change our thinking. One is that the gold price rises rapidly and sharply to stand at 3340, and the other is that the gold price bottoms out near 3300. However, before any of the conditions are met, the short position will continue. Specific strategy Gold 3333 short, stop loss 3343, target 3310
TVC:GOLDShort
by jiqeu1
Opportunities only come to those who ambush in advanceAfter Trump announced that Israel and Iran had reached a comprehensive ceasefire agreement, the market's risk aversion sentiment cooled significantly, and the price of gold once plummeted by more than $30. Although the stability of the ceasefire agreement is in doubt, the rebound in risk appetite dominates the market trend, with stock markets rebounding, oil prices falling, and demand for safe-haven assets falling. Powell will deliver a semi-annual monetary policy testimony, and the market is paying attention to his statement on the timing of the July rate cut. At present, the internal differences of the Federal Reserve on interest rate cuts have intensified. If Powell sends a signal that the number of interest rate cuts this year is limited, it may strengthen the rebound of the US dollar and suppress gold prices; on the contrary, if the stance is dovish, it may ease the downward pressure on gold prices. In the short term, the fading of geopolitical risks and the warming of risk appetite are the main reasons for the decline in gold prices, but the weakening of the US dollar and the potential dovish tendency of the Federal Reserve still provide support. In the medium and long term, global economic uncertainty, geopolitical risks and expectations of the Federal Reserve's loose policy still constitute structural support for gold. From a technical perspective, the gold daily moving average system is in an intertwined state, and the forces of bulls and bears are relatively balanced. The current short-term resistance above is around 3320-3333, which is an important psychological level. If an effective breakthrough is achieved or the upside space is opened, the support below will focus on the 3285-3295 line, which is the lower edge of the May oscillation platform. If it falls below, the pressure of the correction may increase. The loss of the middle track in the 4-hour chart further confirms the short-term weak structure and provides technical support for the downward trend. It is recommended to go long on the pullback near 3285-3295. At present, gold continues to fall in line with the trend.
OANDA:XAUUSDLong
by TP_Daniel
Conflict breaks out, risk aversion rises, can 3400 be broken?Bowman's dovish comments in the afternoon eased the market, by which time risk aversion was deepening as sudden geopolitical conflicts continued to deepen. Will the USA make a corresponding response to this matter? This series of events has once again put gold into a complicated situation. Can gold hit the 3,400 mark today? Free trading strategies are updated daily🌐. All trading strategies released since this month have been verified and can serve as a good reference📈.👇 I sincerely hope that these strategies can be helpful to you👇. OANDA:XAUUSD FX:XAUUSD FOREXCOM:XAUUSD FXOPEN:XAUUSD TVC:GOLD
OANDA:XAUUSDLong
by AllenBoswell-2
Gold Falling Toward 3345 Support📊 Market Overview After failing to break the 3,389 resistance zone this morning, gold remains under pressure from profit-taking and a stronger USD. The price has dropped to around $3,360/oz, reflecting defensive sentiment amid ongoing geopolitical tensions in the Middle East. 📉 Technical Analysis • Key Resistance: 3,389 – 3,400 • Nearest Support: 3,345 – 3,324 • EMA-09: Price is below the EMA-09 on the H1 chart → short-term bearish trend • Candle Patterns / Volume / Momentum: o M15 & H1 candles remain bearish o RSI hovers around 45 → indicating continued correction o No clear reversal signals yet 📌 Outlook Gold may continue to decline slightly in the short term if the USD stays strong and no geopolitical surprises arise. However, the 3345 support zone could attract dip buyers. ________________________________________ 💡 Suggested Trading Strategy 🔻 SELL XAU/USD at: 3,360 – 3,365 🎯 TP: 3,335 – 3,325 ❌ SL: 3,372 🔺 BUY XAU/USD at: 3,320 – 3,324 🎯 TP: 3,340 – 3,344 ❌ SL: 3,310
OANDA:XAUUSDShort
by Mian-FXSignals
Gold Weekly Friday Trend Analysis and Trading RecommendationsOn Thursday, gold maintained a sideways trend, currently trading near $3,370. It hit a low of $3,347 and then rebounded immediately, while yesterday's Federal Reserve interest rate decision had little impact on market volatility. Since Monday, when bearish forces were stronger than bullish ones, the gold market has been seeing equalized bullish and bearish forces, consolidating as it waits for the next stimulus direction. Once it stabilizes above $3,400 again, there is likely to be an inflection point, and it will gradually rise to test the upper track at $3,460–3,470. At the 4-hour level, it is currently under pressure at the middle track of $3,405, with support at $3,345. Gold may break out of the current range on Friday. Intraday trading can focus on range operations between the support of $3,345 and the resistance of $3,400: when the gold price stabilizes above $3,360, you can lightly go long, with targets sequentially at $3,375 and $3,395; if it is resisted below $3,395, you can try to lightly go short. XAUUSD buy@3350-3360 tp:3380-3390-3400 Investment itself is not the source of risk; it is only when investment behavior escapes rational control that risks lie in wait. In the trading process, always bear in mind that restraining impulsiveness is the primary criterion for success. I share trading signals daily, and all signals have been accurate without error for a full month. Regardless of your past profits or losses, with my assistance, you have the hope to achieve a breakthrough in your investment.
OANDA:XAUUSDLong
by EvanField
20
The bulls are not dead yet, it’s time to ambush at low levels!Gold only opened higher and rose on Monday this week, and then reached the highest level of 3452, and then started the road of shock and retracement this week. As of today, Friday, gold is still oscillating and adjusting in the lower range, but from the 4-hour market trend, the trend of gold is still dominated by bulls. In the short term, gold is oscillating and adjusting at a low level. Today, Friday, we will first focus on the support level of 3347-3353 below, which is also the starting point of the rebound yesterday. If this position is not broken today, Friday, we will mainly rebound and close. From the 4-hour analysis, the support below focuses on 3347-3353, and the short-term resistance above focuses on the 3378-3385 ​​level, with a focus on the 3408-3415 level. Continue to rely on this range to maintain the main tone of high-altitude low-multiple cycle participation unchanged, and the middle position is always more watchful and less active, cautiously chase orders, and patiently wait for key points to enter the market. Gold operation strategy: Go long when gold falls back to 3347-3355, with a target of 3370-3380. If you still lack direction in gold trading, you might as well try to follow my pace. The strategy is open and transparent, and the execution logic is clear and definite, which may bring new breakthroughs to your trading. The real value does not rely on verbal promises, but is verified by the market and time.
OANDA:XAUUSDLong
by TP_Daniel
4
Accurate operation, both long and short gains!Gold has experienced a typical volatile market today, first rising to 3400 and then falling back to around 3380 as expected. The short order plan we arranged in advance was successfully closed, and we successfully took this wave of callback profits. What is more worth mentioning is that we also accurately entered the long order in the previous round of retracement and steadily harvested the rebound profits. The rhythm of long and short switching is smooth, the strategy is clear, and the execution is decisive - this is what trading should be like. The market is repetitive, and opportunities are always there. Whether you can put the profit steadily into your pocket depends not on how many times you are right, but on whether you can execute it at the key points. At present, the trend of gold shows that although there is a rebound after each decline, the strength is generally weak and it has never been able to break through the 3405 suppression level. The overall situation is still in a range of fluctuations, and market sentiment is still waiting for further guidance from the Fed. Therefore, short-term operations are still based on key points, and the market rhythm is slow, requiring more patience. In the case of no break at present, continue today's thinking to operate, unless there are sharp fluctuations in the short term or sudden news or geopolitical situations, then make adjustments. Gold operation suggestions: 1. Gold short orders: short near 3397-3405, target 3385-3375. 2. Gold long orders: long near 3375-3370, 3365-3360 can cover positions, target 3380-3390-3400. If you still lack direction in gold trading, you might as well try to follow my pace. The strategy is open and transparent, and the execution logic is clear and definite, which may bring new breakthroughs to your trading. The real value does not rely on verbal promises, but is verified by the market and time.
OANDA:XAUUSDLong
by TP_Daniel
Gold Extends Gains, Eyes 3400📊 Market Overview • Following softer-than-expected US CPI data, gold surged strongly. • This morning, gold touched a high of 3377 before pulling back slightly to around 3372. • A weaker USD and growing expectations of Fed rate cuts remain key bullish drivers. 📉 Technical Analysis • Key Resistance: $3,380 – $3,400 • Nearest Support: $3,325 – $3,310 • EMA09: Price remains above EMA09, signaling a short-term uptrend. • Candlestick & Momentum: Gold has broken out of a consolidation zone with strong momentum, though short-term overbought signals are emerging. 📌 Outlook Gold may enter a mild pullback within the 3370–3380 zone before finding fresh momentum from upcoming Fed signals or macro data. Caution is advised when trading near major resistance. 💡 Trading Strategy 🔻 SELL XAU/USD at: 3375–3377 🎯 TP: 3355 ❌ SL: 3385 🔺 BUY XAU/USD at: 3325–3330 🎯 TP: 3350 ❌ SL: 3315
OANDA:XAUUSDLong
by Mian-FXSignals
5
XAUUSD analysis - potential for pullback and continuationOANDA:XAUUSD is currently consolidating near $3,310 after a decisive breakdown below the ascending trendline, signaling a shift in the short-term structure from bullish to bearish. This breakdown was accompanied by strong bearish momentum, indicating that buyers have temporarily lost control of the market. After the initial drop, the price is now attempting to retrace toward the 0.5–0.618 Fibonacci zone, with the 0.618 level located around $3,335. This zone also coincides with dynamic resistance from short-term moving averages (EMA cluster), making it an important confluence area. A rejection from this level would confirm a bearish retest, supporting the idea of a continuation toward the 1.618 Fibonacci extension near the $3,225 level. However, if the price breaks and holds above $3,348, the bearish scenario will be invalidated, potentially signaling that buyers are regaining strength and may aim to reclaim higher resistance levels. Traders are advised to wait for confirmation, such as a bearish engulfing candle, rejection wicks, or a surge in volume, before entering short positions. As always, this is a personal viewpoint, not financial advice. Trade with appropriate risk management.
OANDA:XAUUSDShort
by LygridTrading