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Gold Approaches Historical Highs Once AgainOver the last three trading sessions, gold has gained just over 3%, and is once again approaching the $3,400 zone, where historical highs are currently holding. For now, the bullish bias behind the precious metal has remained intact, as market uncertainty continues to rise steadily due to developments related to the trade war and the ongoing conflict in Ukraine. Risk aversion has started to increase following recent comments from Donald Trump regarding a potential new escalation with China if negotiations fail to reach an agreement. Additionally, the proposed peace deal for the Ukraine conflict appears to be more delayed than expected, which has caused CNN’s Fear and Greed Index to shift from the “greed” zone into “neutral,” reflecting a decline in short-term investor confidence. It is important to note that in this type of scenario, gold stands out due to its safe-haven status, and these types of events have acted as important catalysts to sustain the current buying momentum over the past few sessions. Uptrend Remains Intact Since the first days of January this year, gold has maintained a steady uptrend. So far, bearish corrections have been insufficient to break the formation seen in recent weeks. At present, the price is once again testing the resistance area marked by historical highs, and if it manages to break through this level, it could signal a stabilization of the upward trend in the sessions ahead. RSI The RSI line continues to rise above the 50 level, indicating bullish momentum in the short term. If the line continues to climb, buying pressure could become more significant in the near term. TRIX Although the TRIX line remains above the neutral 0 level, its current downward slope suggests that buying momentum has entered a period of consolidation. Unless the line recovers, it will continue to reflect that the strength of the exponential moving averages is entering a short-term neutral phase. Key Levels to Watch: $3,400: Resistance located at recent historical highs. A breakout above this level could activate a stronger bullish bias and reinforce the ongoing trend. $3,300: A nearby support level aligned with the midpoint of a potential short-term horizontal channel. It may act as a barrier to further downside corrections. $3,200: A critical support level aligned with the ascending trendline. Selling activity below this level could put the current uptrend at risk. Written by Julian Pineda, CFA – Market Analyst
FOREXCOM:XAUUSD
by FOREXcom
XAUUSD – Gold Hits Supply Wall Again! Is a Drop Incoming? 🔵 Key Levels to Watch: 🔹 3,419.97 – Strong Supply Zone, sharp rejections in the past 🔹 3,063.64 – Previous support/resistance flip zone 🟠 2,759.98 – High Demand Zone + Volume Cluster = Potential long entry area --- 📌 What the Chart Is Telling Us: Price just tapped into a major Supply Zone again at the top range Repeated failure to break above = warning for bulls Large move likely incoming with clean structure below Volume profile shows thin support until 3,060 and 2,760 --- 🎯 Trade Setup Idea: 🔻 Sell Bias near 3,400 zone if price shows reversal candle/engulfing TP1: 3,063 TP2: 2,760 ❌ Invalidation: Strong close above 3,420 with volume --- 📢 Are you bearish on Gold from this supply zone? 💬 Comment your thoughts or setups below! 🔁 Repost for others watching Gold! ✅ Like & follow for more multi-timeframe S&D analysis. #Gold #XAUUSD #TradingView #Forex #SupplyAndDemand #PriceAction #SmartMoneyConcepts #GoldAnalysis #SwingTrade #Metals #MacroTrading #TechnicalAnalysis #VolumeProfile
FX:XAUUSDShort
by FrankFx14
Gold Market Analysis: Short-Term Weakness, Long-Term OptimismAfter a significant drop on Friday, gold prices hit a low of **$3316** in the US market, indicating that the current market correction is likely to continue into next week. ### Current Market Dynamics The short-term outlook for gold appears weaker, with the 4-hour cycle showing a decline and the daily cycle facing upward pressure. Despite this, the overall market remains within a broad trading range, mirroring the patterns observed in May. The recent fall below the **$3330** support level is a key indicator. This point acted as a pivot between bullish and bearish sentiment, and its breach suggests that the short-term market has entered a period of weakness and volatility. However, the market hasn't fully shifted into a bearish trend. We can expect a continued downward fluctuation, but the extent of this drop should be limited, making a sharp decline unlikely. ### Trading Strategy for the Coming Week Given these dynamics, a "short-term selling and long-term buying" strategy is recommended. * **Short-term operations** may involve selling, but this should be approached cautiously. * From a broader perspective, **buying remains the primary strategy**. Looking ahead to next week, we anticipate the market will fluctuate and find a bottom around **$3300**. Once this support level stabilizes, a new upward trend is expected to begin. **Key price levels to watch:** * **Short-term resistance:** $3340 * **Lower support:** $3300 Flexibility in your trading arrangements will be crucial to capitalize on upcoming market opportunities.
OANDA:XAUUSDShort
by DalitsoTembo
2
Analysis of gold price trend next week!Market news: This week (June 2 to June 6), the spot gold market has become more volatile due to the interweaving of multiple factors. Spot gold prices fell more than 1% on Friday due to the impact of strong US employment data, but still recorded a 0.8% increase for the whole week, showing the game between safe-haven demand and the strengthening of the US dollar. The trade uncertainty caused by Trump's tariff policy, the continued increase in international gold holdings by global central banks, and the tense geopolitical situation provide support for London gold prices, while the solid US employment data pushed up US Treasury yields, weakened the Fed's expectations of rate cuts, and put pressure on international gold prices. The market continues to pay attention to geopolitical risks and trade uncertainties. Silver performed even better, hitting its highest level since 2012, and platinum and palladium also recorded weekly gains. The precious metals market as a whole was driven by speculative funds. The market's uncertainty about the Trump administration's steel and aluminum tariffs and fiscal policies has driven global central banks to increase their gold holdings. And the cautious attitude of Federal Reserve officials towards rate cuts is beneficial to long-term demand for gold. Next week, the US CPI data and the progress of trade negotiations will become the focus of the market. If inflationary pressure rises, it may further push up US bond yields and put pressure on gold prices; if the data is soft, it may rekindle expectations of interest rate cuts, which is good for gold. In addition, the progress of trade negotiations and geopolitical risks such as the conflict between Russia and Ukraine will continue to affect market sentiment. Technical Review: From the perspective of this week's market, the high-rise and fall-down trend continued, and the low point was refreshed. The signal that gold is heading towards an extremely weak pattern is getting stronger and stronger, and selling has the capital to pierce 3300. From a technical perspective, on the weekly chart, this week's high-rise and fall closed with an inverted head, and the MACD indicator showed signs of a dead cross downward at a high level. The current pattern is conducive to continued selling!     On the daily chart, two consecutive negative lines on the daily chart caused the price to run below the short-term moving average, and led to a downward trend near the 10-day moving average of 3330. The 5-day moving average also followed closely at around 3355. In addition, the upward momentum of other periodic indicators weakened, and the MACD indicator showed a dead cross downward pattern, so the daily chart should tend to be short. However, one thing is worth noting, that is, after the gold price rebounded at 3307 on Friday, the middle track of the Bollinger Band has moved up, which means that the buying defense has been strengthened. Therefore, while the daily line is biased towards selling, we must also pay attention to the strength of the bulls' counterattack. Next week's analysis: Next week's operation suggestion is to maintain the idea of ​​selling as the main idea, supplemented by buying at low prices. For the upper resistance, pay attention to the 3328-3330 area first, and then pay attention to the 3345-3350 area. The former is regarded as the key to selling and exploring the low point, or even breaking the middle track of the Bollinger Band at 3295, which is also the low point of this week. The latter is a strong defense for selling in the short-term shock trend! In other words, selling below 3330 can complete the touch of the low point or new low next week in the short term, while selling below 3350 is still expected to test the new low, but the time period will be extended. As for the support below, focus on 3280. It is expected that it will be close to or touched at the beginning of next week, but whether it can break directly needs to be judged according to the actual trend, so it is best to wait for it to touch or break once before taking more. The 1-hour moving average of gold has formed a dead cross downward, so gold still has downward momentum. After the 1-hour high box of gold oscillated, gold finally broke through the box downward, indicating that gold is better sold. Then the bottom of the gold box has now formed resistance, and the short-term 3333 line of gold has formed resistance to gold. If gold is under pressure at 3333 at the beginning of next week, then gold can continue to be sold. Operation ideas: Buy short-term gold at 3277-3280, stop loss at 3268, target at 3310-3330; Sell short-term gold at 3330-3333, stop loss at 3342, target at 3300-3280; Key points: First support level: 3300, second support level: 3280, third support level: 3261 First resistance level: 3330, second resistance level: 3348, third resistance level: 3375
OANDA:XAUUSDShort
by NuggetsWarriors
GOLD Today’s economic data—ADP Non-Farm Employment Change (37K vs. 111K forecast) and ISM Services PMI (49.9 vs. 52 forecast)—signaled significant weakness in the U.S. labor market and service sector, prompting markets to price in higher odds of Federal Reserve rate cuts. Here’s how this impacts the Fed’s policy outlook and the US Dollar Index (DXY): Federal Reserve Interest Rate Decision Implications Labor Market Cooling: The ADP jobs miss and downward revision of April’s data suggest hiring momentum is stalling. Small businesses cut jobs, while larger firms reduced headcounts. Fed Chair Powell has emphasized maximum employment as a key mandate. Sustained weakness could push the Fed toward earlier rate cuts,its likely above 25bps. Services Sector Contraction: The ISM Services PMI fell into contraction (49.9), the first since December 2023, driven by tariff uncertainty and delayed business spending. However, persistent inflation pressures . This creates a policy dilemma: weak growth vs. sticky inflation. The Fed may delay cuts until inflation trends lower, but political pressure (Trump’s public criticism of Powell) adds urgency . Fed’s Balancing Act: The Fed is unlikely to act before Friday’s Nonfarm Payrolls (NFP) report. If NFP confirms labor market softness, a July or September cut becomes likely. However, elevated wage growth (ADP reported 4.5% YoY pay gains) and ISM’s inflation spike could keep the Fed cautious . DXY Price Action Immediate Reaction: The dollar fell sharply post-data, with the DXY dropping 0.35% to 98.675 as traders priced in dovish Fed expectations . Near-Term Outlook: Bearish Bias: Continued weak data (especially a soft NFP on June 6) could push DXY toward 98.057 support, targeting the ascending trendline will be my focus to go long on trend demandfloor. Inflation Wildcard: Sticky services inflation (ISM Prices Paid) may limit dollar declines if markets doubt the Fed’s ability to cut rates aggressively . Summary of Key Levels and Scenarios Scenario Fed Reaction DXY Impact NFP Confirms Weakness Sept cut priced in Drop to 98.40–97.00 NFP Beats Expectations Delayed cuts (Dec 2025+) Rebound toward 99.50–100 Inflation Persists Hawkish hold, delayed easing Range-bound near 99.00 Conclusion Today’s data tilts the Fed toward a dovish pivot, but conflicting signals (soft jobs vs. stubborn inflation) inject uncertainty. The dollar’s trajectory now hinges on Friday’s NFP report, which will either cement rate-cut bets or revive stagflation fears. Traders should brace for volatility, with DXY likely testing 98.00 if NFP misses expectations. #gold #dollar
FPMARKETS:XAUUSDLong
by Shavyfxhub
Gold summary this week and analysis for next week. Analysis of gold news: During the U.S. trading session on Friday (June 6), spot gold continued to fall weakly and ended the week at around 3309. Gold rose and fell on Thursday. Earlier, silver broke through the $35 mark, hitting a 13-year high, driving gold prices to break through the $3400 mark, hitting a four-week high of around $3403.28. However, due to the signal of easing trade tensions released by the US and Chinese leaders during the call, the spot gold price closed down 0.6% at $3352.65. The market began to turn its attention to the upcoming US non-farm payrolls data and the policy trends of the Federal Reserve. On June 5, the call between US President Trump and Chinese leaders became the focus of global financial markets. Trump said on social media that the two sides reached a "very positive conclusion" on trade issues, while Chinese officials emphasized that negative measures against China should be withdrawn. This rare dialogue between leaders was interpreted by the market as a signal of thawing trade tensions, weakening the appeal of gold as a safe-haven asset, causing spot gold prices to fall back to $3,352.65 after an intraday high of $3,403.28. Despite this, gold has risen by about 28% this year, showing its strong demand amid global uncertainty. Analysts pointed out that the easing of trade tensions has a direct impact on the performance of safe-haven assets. The decline in gold prices reflects the market's optimistic expectations for the progress of Sino-US trade negotiations. Judging from the current trend of gold, the market will continue to fall next week; the decline is not as strong as expected, first look at the gap filling near 3,290, then look at the range of 3,260 to 3,250, and give specific points after updating the indicators on Monday; focus on the pressure near 3,330-3,335 next Monday, consider shorting ideas, and give specific operational suggestions on Monday.
OANDA:XAUUSDShort
by KellyLondon
Gold falls below key support, short-term bearish approachAt present, the hourly level has fallen below the key support level of 3330, which is effectively broken as the short-term long-short watershed, which means that the market is weak and volatile in the short term. However, it does not constitute a short trend for the time being. The short-term trend in the future may still fluctuate downward, but there is no basis for a deep decline. Short-term short orders can be participated in, but the general direction remains bullish. This week is coming to an end. If there are still operation plans, you can wait for a small rebound and then participate in a wave of short-term short operations. The target is controlled at 10-30 points. Enter and exit quickly, and don't be greedy. Looking ahead to next week, it is expected that the market will fluctuate around 3,300 and then bottom out and then resume its upward trend. The thinking will continue to be mainly "short-term short and long-term long". The current gold 1-hour moving average system has begun to turn downward. If a dead cross structure is further formed in the future, the downward space will be opened. After gold fell under pressure from a high level yesterday, it continued to be weak today. Combined with the bearish non-agricultural data, there is a lack of support for risk aversion. There is still room for short-term downward movement, and the overall rebound is still the main focus. Operation suggestions: Aggressive investors may consider shorting in the 3333-3335 range; Conservative investors may wait for a rebound to the 3345-3350 area and enter the short position at an appropriate time. The target is 10-30 points. It is not recommended to hold more than the target.
OANDA:XAUUSDShort
by TP_Daniel5
GOLD NEXT MOVE (expecting a mild correction now)(26-05-2025)Go through the analysis carefully and do trade accordingly. Anup 'BIAS for the day (26-05-2025) Current price- 3336 "if Price stays below 3350, then next target is 3326, 3315, 3300 and 3285 and above that 3370 ". -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk more than 1% of principal to follow any position. Support us by liking and sharing the post.
OANDA:XAUUSDShort
by AnupZiddi
20
Gold Surges After Trade Deal – What’s Next?OANDA:XAUUSD has recently shown a strong upward trend, supported by both a technical breakout structure and positive fundamental developments. After a prolonged rally from the lows of the previous weekend’s close, it has decisively broken through the key resistance zone between $3,365 and $3,370, which has now been clearly removed. With this breakout, the structure confirms the upward momentum and the expectation is to retest this newly formed support zone before continuing the uptrend. The price is currently around $3,368 and a pullback to the $3,365 to $3,370 zone will offer a high-probability buying opportunity. This aligns with classic price behavior: after a breakout, the market often returns to test the former resistance level, which has now turned into support. If we see it retest, it would confirm the technical setup for a continued move toward the projected target of $3,470. From a fundamental perspective, the Chinese Ministry of Commerce issued a statement refuting accusations from the US of violating the bilateral trade agreement (published on June 2, 2025), claiming these allegations are "groundless." According to the reached agreement, the US agreed to reduce tariffs on Chinese goods from 145% to 30% within 90 days. In return, China also pledged to lower tariffs on US goods from 125% to 10% over the same period. President Donald Trump stated over the weekend that China had not complied with the agreement and warned of increased tariffs on steel and aluminum this week. Additionally, the ongoing Russia-Ukraine conflict continues to escalate, increasing pressure on risk assets and supporting gold prices. Tim Waterer, Chief Market Analyst at KCM Trade, commented that with rising trade and geopolitical tensions, it’s no surprise that gold has started the new week with an upward trend. From a technical standpoint, the overall structure remains bullish. The breakout is clear and supported by volume. Any deeper pullback that breaks below $3,335 would invalidate the short-term bullish trend, as it would signal a failure to hold above the former resistance level and could mean the beginning of a deeper correction toward trendline support. In conclusion, the current market behavior suggests it is in the process of forming a bullish continuation, supported by the clear breakout above previous resistance, rising geopolitical and trade tensions. The price is likely to retest the breakout zone, offering a potential long setup forecasting a move higher if momentum remains strong. The technical picture is supported by future growth plans, making it a safe-haven asset to watch closely in the coming weeks to confirm the pullback and continuation.
OANDA:XAUUSDLong
by LucasMgoldview
3
Gold at Key Rejection Zone: Will the Drop Resume from $3310?By examining the gold chart on the 4-hour timeframe, we can see that after some consolidation between $3294 and $3302, the price finally began a sharp drop, correcting down to $3245. This area was a key demand zone on lower timeframes, which triggered a rebound, and gold is now trading around $3310. If the price gets rejected from the $3310–$3313 zone, we can expect another potential decline. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
FX_IDC:XAUUSDShort
by ArmanShabanTrading
42
GOLD1. Gold and 10-Year Bond Yield Gold and 10-year Treasury yields generally exhibit a strong inverse correlation. When bond yields rise, gold prices tend to fall, and vice versa. This is primarily because higher yields increase the opportunity cost of holding gold, which does not pay interest or dividends. Investors prefer bonds when yields rise, reducing gold demand. However, the key driver for gold is real interest rates (nominal yield minus inflation). Even if nominal yields rise, if inflation rises faster, real yields can remain low or negative, which supports gold prices. Historical data shows gold often rises during periods of falling real yields, even if nominal yields fluctuate. For example, gold surged in the 1970s despite rising nominal rates due to high inflation and negative real yields. 2. Gold and Dollar Index (DXY) Gold and the US dollar index (DXY) usually have an inverse relationship. A stronger dollar makes gold more expensive in other currencies, reducing demand and lowering prices. Conversely, a weaker dollar supports gold by making it cheaper internationally. However, during times of geopolitical uncertainty or market stress, both gold and the dollar can rise together as safe havens. 3. Interest Rates and Gold Central bank interest rates influence bond yields and the dollar, indirectly affecting gold. Rising interest rates tend to push bond yields higher and strengthen the dollar, both of which typically pressure gold prices. Conversely, expectations of rate cuts or dovish monetary policy lower yields and weaken the dollar, supporting gold. The real interest rate is the most important factor: low or negative real rates reduce the opportunity cost of holding gold, boosting its appeal. 4. Summary of Interactions Factor Relationship with Gold Explanation 10-Year Bond Yield Inverse Higher yields raise opportunity cost, reducing gold demand Real Interest Rate Inverse Negative or low real rates support gold Dollar Index (DXY) Inverse Strong dollar makes gold more expensive globally Nominal Interest Rate Inverse Higher rates strengthen dollar and yields, pressuring gold Conclusion Gold prices are strongly influenced by the interplay of real interest rates, bond yields, and the US dollar. Rising nominal yields and a strong dollar generally weigh on gold, but if inflation outpaces yields, resulting in low or negative real rates, gold remains attractive as a hedge. This dynamic explains gold’s resilience despite fluctuating bond yields and dollar strength in 2025.
FXOPEN:XAUUSDLong
by Shavyfxhub
GOLD (XAU/USD) Analysis – Head & Shoulders & Target📌 Overview: Today’s GOLD market presented an excellent educational setup using the MMC (Market Maker Cycle) methodology. We identified a Head & Shoulder reversal pattern, volume contraction at a key zone, a Major Break of Structure (BOS), and finally, a clear shift in market structure leading to a strong bullish move. Let’s break it down step-by-step: 🧠 1. Head & Shoulders Pattern – The Early Reversal Signal The pattern started forming around May 26–28, a classic Head & Shoulders that signaled potential exhaustion of the downtrend: Left Shoulder: Price attempted to rise but failed to break previous highs. Head: Sellers pushed to form a deeper low, forming the head. Right Shoulder: Buyers entered again at the previous demand, creating a higher low than the head—indicating weakening bearish momentum. 🟦 The neckline was drawn across the swing highs. Once broken, it confirmed the reversal. 📍Significance: This pattern formed inside a strong SR Interchange Zone, where support turned resistance and vice versa—adding confluence. 🛠 2. Major Break of Structure (BOS) – Confirmation of Trend Shift After forming the right shoulder, price decisively broke above the neckline and previous highs—this was the Major Break of Structure (BOS). This is critical in MMC because: It signals the end of the accumulation or manipulation phase. It confirms that smart money has taken control and is pushing price in the new direction. BOS acts as an entry trigger for traders using structure-based strategies. 💥 A strong bullish candle closed above the BOS level, showing aggressive buying. 📉 3. Volume Contraction – Smart Money Behavior Between May 31 and June 2, we observed a tight consolidation at the previous resistance zone (now support). Volume was contracting, forming a compression zone—a common sign of liquidity buildup by institutional players. 🧠 Why is this important? Low volume ranges typically lead to high-volume breakouts. This is the “accumulation before expansion” phase. Smart money often accumulates orders here before a major move. When price broke out of this compression, it did so with high momentum—validating this theory. 🔄 4. Structure Shifting – New Bullish Market Cycle Following the BOS and breakout from volume contraction, price aggressively shifted its structure: Higher highs and higher lows started forming. Price invalidated bearish order blocks and respected bullish zones. A new bullish market cycle under MMC began unfolding. 🚀 Price is now headed toward the Next Reversal Zone (around $3,460–$3,470), where we expect significant reaction. 🔍 5. Key Levels Explained 🔵 SR Interchange (~$3,280): This acted as a strong base for the Head & Shoulder formation. A key demand zone if price retraces. 🟦 Volume Contraction Zone (~$3,330–$3,350): Launchpad for the bullish impulse. 🟥 Next Reversal Zone (~$3,460–$3,470): A likely profit-taking or short-term reversal zone. Watch for bearish setups or consolidation here. 🎯 Strategy Insights (Based on MMC) Entry Opportunity: After BOS + Retest of neckline or volume contraction zone. Risk Management: Stop loss just below the previous low or reversal zone. Target Zones: Next Reversal Zone or Fibonacci extensions depending on strategy. 📈 Conclusion This GOLD chart is a textbook example of how technical confluences create high-probability setups: ✅ Head & Shoulder at demand ✅ Break of structure confirms reversal ✅ Volume contraction signals smart money entry ✅ Bullish expansion shows structure shift 🔔 Final Thought: Watch closely how price reacts around the Next Reversal Zone. If bearish price action appears, it may provide a short-term reversal or retracement trade. Otherwise, a clean break above could signal the continuation of the bullish leg.
OANDA:XAUUSDLong
by GoldMasterTrades
Today's gold price target: 3400-3450Today's gold price target: 3400-3450 As shown in the figure: 15-minute cycle 1: The yellow circle at the bottom represents a new round of rise, which means the beginning of the market 2: The blue circle at the top represents the end of the rising market. 3: The white triangle area represents the callback shock and weak trend after the rise 4: The purple rectangular area represents the current shock range, that is, the current long-short game range 5: 1234, four possible trends after the opening of the US market Among them, trend 1-2 is the most likely Operation strategy: The following data clearly reflects Support level: 3370--3365---3345---3335 Pressure level: 3385---3400+ Aggressive strategy: The white triangle range is superimposed on the purple oscillation range, (3365-3375) looking for a long position Stop loss 3350 Target 3400+ Strategy disadvantage: Path 2 is easy to be liquidated (reasonably control the position ratio) Conservative strategy: wait for the US market to start, and go long in batches around 3360-3350 Stop loss 3340 Target 3400+ Today's gold price trend is stable, structural resonance, and the expected increase is 3400-3450 Therefore, it is recommended to try a low-price long strategy
OANDA:XAUUSD
by Louisa21210
XAU/USD Consolidating Near $3,350 – Watch for Break Above $3,365Gold is currently trading around $3,350, showing signs of consolidation after recent gains. Technical indicators suggest a cautious approach, with key resistance at $3,365 and support at $3,345. Market sentiment remains bullish due to ongoing geopolitical tensions and economic uncertainties. Traders should monitor these levels closely and manage risk appropriately. 📊 Key Levels Resistance: $3,365, $3,400, $3,450 Support: $3,345, $3,300, $3,285 📈 Trading Strategy 🔸 Bullish Scenario: Breakout Above $3,365 : Could target $3,400 and potentially $3,450 Support Holding Above $3,345 : May lead to a retest of $3,400 🔸 Bearish Scenario: Failure to Hold Above $3,345 : May lead to a retest of $3,300 or lower Break Below $3,300 : Could extend the correction towards $3,285 Note Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
ICMARKETS:XAUUSDLong
by SibiSh
Gold ises in the short term, approaching key level.Based on the recent price action perspective, Gold's movement may have signaled weakness and could serve as a key trigger for bearish traders. This is why I anticipate further follow-through selling activity. The bearish outlook has not yet been confirmed, however, a rebound from the confluence zone could once again attract sellers for a potential move toward the 3,262 support area. But a strong upward move and a break above the confluence zone around 3,340 would allow Gold to reclaim 3,400 and push even higher. Please note that I will not engage without proper confirmation.
OANDA:XAUUSDShort
by LucasMgoldview
3
6/5 Gold Analysis and Trading SignalsGood morning, everyone! Gold surged above 3380 yesterday but faced strong resistance, pulling back before testing the critical 3400 level. Despite multiple attempts, price failed to break through, highlighting a clear lack of bullish momentum near historical highs. From a technical perspective, a potential M-top (double top) pattern is forming on the 30-minute chart. If confirmed, we can expect a deeper retracement, with an initial target around 3330, and possibly 3300 in case of further downside. Under this structure, today’s primary trading bias should favor short positions. That said, if gold breaks above 3400 with strength, the 3416–3438 target zone becomes viable. However, any such breakout is likely to be followed by a pullback. In that scenario, we’ll closely monitor the 3392–3368 support range before executing follow-up trades. 📉 Technical Notes: Price remains near a historical resistance zone, and buyers are showing hesitancy at these levels; While yesterday’s Beige Book report provided short-term bullish sentiment, we need to observe whether the Asian and European sessions digest and extend that move. 🗞 Fundamental Outlook: The key event today is the U.S. Initial Jobless Claims report, which may trigger volatility; Gold remains supported by risk-aversion flows, but traders should be mindful of potential corrections at elevated levels. 💡 Risk Management Tip: In such conditions, it is highly recommended to scale into positions with reduced lot size, and use tight risk controls to guard against unexpected reversals. 📌 Trading Recommendations for Today: Sell near 3423–3436, targeting short-term pullbacks Buy near 3312–3298, if deeper correction materializes Pivot levels for tactical trades: 3416 / 3403 / 3392 / 3386 / 3367 / 3352 / 3343 / 3328 Strategy Summary: Favor short setups on rallies unless 3400 is decisively broken. If support at 3362-3358 fails, expect the bearish trend to gain further momentum.
FOREXCOM:XAUUSDShort
by China_MsWang