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XAUUSDG trade ideas

Is a Reversal on the Horizon or a Deeper Correction? 🔘Gold Faces Strong Resistance at 3300 – Is a Reversal on the Horizon or a Deeper Correction? ⭐️ Gold has recently faced a significant price correction after bouncing off key resistance levels. As geopolitical events settle and economic data comes in, the market is now testing crucial support levels. Today’s session could provide important insights into whether gold will maintain its bullish momentum or continue to correct further. 🔹Market Overview – USD Rebounds, Creating Short-Term Pressure on Gold The US dollar has seen a strong rebound following positive developments in the global trade talks. Several key agreements between major nations, including the US, have been signed, which seem to support the USD in the short term. This has put downward pressure on gold, as traders shift their focus towards a stronger dollar and risk appetite returning to the market. 🔹US inflation data has come in lower than expected, creating room for the Fed to hold off on rate hikes, which helps the dollar further. 🔹FOMC meeting minutes later this week could reveal insights into the Fed's stance on interest rates, which could be key for market direction. 🔹Geopolitical tensions are cooling off slightly, which has reduced demand for safe-haven assets like gold. 🔹Technical Analysis – Gold in a Range-Bound Market, Testing Key Levels On the H1 chart, gold is forming a clear downward channel between 3360 and 3290, suggesting that the price could continue its correction within this range. If the price stays within this zone, we might see a deeper pullback toward the 3250 region. However, as always, waiting for confirmation signals before entering any trades is crucial. The false breakout risk is high when the price moves quickly and without clear confirmation from higher timeframes. 🔹Buy Bias in the Short-TermGiven the current technical structure, a buy bias seems more likely than further selling. The market may test 3320-3325 in the near term, with the potential to bounce back if the buying momentum continues to build. Additionally, the rejection wick on the D1 candle from yesterday suggests that sellers are losing control, and we may see more buying pressure in the coming sessions. 🔹Resistance and Support Levels to Watch: 🔺Key Resistance Levels: 3302 – 3310 – 3324 – 3335 – 3361 🔻Key Support Levels: 3275 – 3259 – 3248 ⬜️Trading Strategy – Buy and Sell Zones 🔺BUY ZONE:3250 – 3248 🔹Stop Loss: 3244 ✔️Take Profit: 3254 → 3258 → 3262 → 3266 → 3270 → 3280 → ???? 🔺SELL SCALP: 3303 – 3305 🔹Stop Loss: 3310 ✔️Take Profit: 3298 → 3294 → 3290 → 3286 → 3280 → 3270 → 3260 🔺SELL ZONE:3334 – 3336 🔹Stop Loss: 3340 ✔️Take Profit: 3330 → 3326 → 3320 → 3315 → 3310 → 3305 → 3300 → ???? 🕖Important Notes for Today: FOMC and Trade Policy Updates With FOMC minutes and other important trade policy updates expected today, it’s crucial to stay alert for any sudden changes in market sentiment. Always ensure that you are adhering to your TP/SL levels to safeguard your account.
OANDA:XAUUSDShort
by MMFlowTrading
1
HelenP. I Gold will make small correction and then continue growHi folks today I'm prepared for you Euro analytics. In this chart, we can see how the price declined to the 3245 support level, which coincided with the support zone, and then started to grow. In a short time, it reached the 3395 resistance level, which coincided with the resistance zone, and then dropped to the trend line, breaking two levels, and made a gap. After this movement, the price started to grow in a wedge and soon reached the support level, which broke it and continued to rise next. Later, it made a correction to the 3245 level and then continued to move up and reached the resistance level. Price bounced from this level and corrected, after which it turned around and rose to the resistance line of the wedge pattern, breaking the 3395 resistance level. But soon, it turned around and corrected to the trend line. Not a long time ago, price exited from the wedge, fell to the support level, and then started to grow. For this case, I expect that XAUUSD will make a small correction. Then I think it can continue to grow and reach the 3395 resistance level, which is my current goal. If you like my analytics you may support me with your like/comment.❤️ Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:XAUUSDLong
by FirstNameHelen
7
GOLD - The One That Survived All Ages - Trading PsychologySummer light reading between trades💫 From Ancient Gods to modern banks — Gold never needed marketing to be priceless. Gold was never invented. It was found, worshipped, stolen, buried, and bled for. Long before charts, before forex pairs, before brokers — it was power. So if you're wondering why this metal moves the world? Let’s take it back — way back. But before we dive into history, here’s why traders are addicted to XAUUSD: It’s fast. Ruthless. Liquid. It can deliver a week’s profit in one candle — or wipe you out in seconds. If you understand structure, it will reward you like nothing else. If you’re lazy, impulsive, or just guessing? It’ll humble you fast and without mercy. The Discovery – Gold Before Currency • Gold was first discovered in Paleolithic caves (~40,000 B.C.), admired purely for its beauty. • Ancient Egyptians called it “The flesh of the Gods” — Pharaohs were buried with it, because in their mind, you couldn’t enter the afterlife without gold. • No value was assigned — it simply was value. Empire Fuel – Gold as the Engine of War • The Roman Empire used Gold Coins (Aureus) to expand its reach. • Spain and Portugal built fleets just to steal it from the Americas. • Entire wars were started and sustained by it — Gold wasn’t a luxury; it was national survival. Gold & the Banks – Trust in a Metal • 1816: The UK made Gold its official standard. • By the early 1900s, most major economies followed — every currency was tied to the physical rulling metal . • Why? Because you can’t print trust. But you can weigh it. • Even today, central banks don’t hoard crypto or tech stocks — they hoard Gold, quietly, relentlessly. Collapse, Rebirth, and Chaos – The Modern Era of Gold • 1971: U.S. President Nixon kills the gold standard. ➤ Until then, every dollar had to be backed by real gold in U.S. vaults. ➤ After that? Dollars became promises, not assets. • Welcome to the fiat era — where money has no anchor, just hope. • Gold, no longer “money,” became something more powerful: ➤ The panic button, the global fallback, the last honest asset when everything else crumbles. • And crumble it did: 🔹 2008: Banks collapse — Gold soars. 🔹 2020: Global lockdown — It explodes. 🔹 2022–2024: War, inflation, debt ceilings, de-dollarization — Gold reclaims the throne. When fear wins, this metal doesn’t blink. It rises. From Ancient Tombs to 2025 – Gold’s Unshakable Throne • Today, you stare at candlesticks. You mark order blocks, gaps, and key level zones. But beneath that technical setup is a story written in blood, empire, and survival. • Gold has outlived Kings. Outlasted currencies. Outsmarted every attempt to replace it. You can crash a stock. You can ban a coin. But you can’t cancel this number 1. • And now? It’s 2025. The world is uncertain. Digital assets are volatile. And Gold is still the most traded, most hoarded, most feared asset on Earth. • You’re not here by accident. You chose to trade this beast — not because it’s easy, but because you know what it means to master chaos. So you’re not trading a metal. You’re trading a legacy, so pay respect. Every setup is a whisper from history — and every move on Gold is just the past repeating itself… Only this time, the empire isn’t outside. It’s YOU. And your chart is your battlefield. So make an effort and study XAUUSD before trading it. If this lesson helped you today and brought you more clarity: Drop a 🚀 and follow us✅ for more published ideas.
FOREXCOM:XAUUSD
by GoldMindsFX
Learn the 3 TYPES of MARKET ANALYSIS in Gold Forex Trading In the today's post, we will discuss 3 types of analysis of a financial market. 🛠1 - Technical Analysis Technical analysis focuses on p rice action, key levels, technical indicators and technical tools for the assessment of a market sentiment. Pure technician thoroughly believes that the price chart reflects all the news, all the actions of big and small players. With a proper application of technical strategies, technical analysts make predictions and identify trading opportunities. In the example above, the trader applies price action patterns, candlestick analysis, key levels and 2 technical indicators to make a prediction that the market will drop to a key horizontal support from a solid horizontal resistance. 📰2 - Fundamental Analysis Fundamental analysts assess the key factors and related data that drive the value of an asset. These factors are diverse: it can be geopolitical events, macro and micro economic news, financial statements, etc. Fundamental traders usually make trading decision and forecasts, relying on fundamental data alone and completely neglecting a chart analysis. Price action on Gold on a daily time frame could be easily predicted, applying a fundamental analysis. A bearish trend was driven by FED Interest Rates tightening program, while a strong bullish rally initiated after escalation of Israeli-Palestinian conflict. 📊🔬 3 - Combination of Technical and Fundamental Analysis Such traders combine the principles of both Technical and Fundamental approaches. When they are looking for trading opportunities, they analyze the price chart and make predictions accordingly. Then, they analyze the current related fundamentals and compare the technical and fundamental biases. If the outlooks match , one opens a trading position. In the example above, Gold reached a solid horizontal daily support. Testing the underlined structure, the price formed a falling wedge pattern and a double bottom, breaking both a horizontal neckline and a resistance of the wedge. These were 2 significant bullish technical confirmation. At the same time, the escalation of Israeli-Palestinian conflict left a very bullish fundamental confirmation. It is an endless debate which method is better. Each has its own pros and cons. I strongly believe that one can make money mastering any of those. Just choose the method that you prefer, study it, practice and one day you will make it. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
1
XAUUSD Daily Outlook – July 7, 2025👋 Hey traders, welcome to the fresh week! After the Friday selloff, gold is approaching a key inflection point. Let’s break down what’s happening on the Daily chart and how to approach it with clarity — no guessing, just precision. Stay focused. The real opportunity is always in how you prepare. 🌍 Macro + Sentiment Market remains sensitive to yield shifts and broader risk sentiment (BRICS summit also continues) Price remains elevated in premium territory after months of vertical flow — but structure is finally showing re-accumulation or re-distribution? 📈 Daily Bias Neutral to bearish until the 3330–3344 zone fully flips cleanly as support Structure shows lower highs, strong wick rejections in premium zones, and a need for confirmation 🧠 What the chart tells us: Price is compressing between a D1 FVG (below) and unfilled premium OB (above) Friday’s low wicked into a small imbalance — but was not a clean tap into the main OB RSI is midrange, EMAs are flat, and momentum is indecisive We're either gearing up for a bullish FVG reclaim or prepping for a deeper drop into discount ⚠️ Key Zones to Watch 🔵 Support Zones (Buy Zones) 3230–3208 → D1 Fair Value Gap + unmitigated bullish OB + discount pricing → Valid only with clean bullish rejection. High interest for sniper entries if price returns. 3170–3154 → Untapped daily OB + historical support wick + aligns with deeper discount zone → Stronger bounce zone if 3230 fails. Confluence with fib retracement & RSI likely oversold here. 🔴 Supply Zones (Sell Zones) 3420–3450 → Premium FVG + D1 OB combo + previous bearish rejection wick → High probability inducement area. Valid only if price fails to hold 3344 flip. 3388–3402 → Minor supply + internal structure break level → Short-term reaction area. Lower conviction but watch for rejection if price overextends. 🟡 Decision / Flip Zone 3327–3344 → Former support now turned resistance → If this zone flips bullish and holds, bias shifts to continuation. If rejection occurs, confirms retracement deeper into discount. ✅ Conclusion The market is entering a decision week — no rush. Let the chart guide you. Clarity comes not from prediction, but preparation. This chart isn’t hindsight — it’s a live framework. ✨ Final Thought If this chart feels clear, that’s because it was built with intention — not after the move, but before it happens. The difference between noise and precision is structure. And we don’t guess — we prepare. 🚀 If you appreciate detailed, real-time structure like this, hit follow and join the traders who value clean execution over hype. 💬 Drop your bias below — bullish or bearish this week? 📢 Disclosure: I use Trade Nation's broker feed on TradingView and I'm part of their influencer program. 📉 This is educational content and not financial advice.
TRADENATION:XAUUSD
by GoldFxMinds
Bears pressure early week below 3300⭐️GOLDEN INFORMATION: Gold prices (XAU/USD) face renewed selling pressure, dipping toward the $3,320 level during the early Asian session on Monday. The pullback comes as June’s stronger-than-expected US Nonfarm Payrolls (NFP) report has reshaped market expectations around the Federal Reserve’s (Fed) policy path. Investors now turn their attention to the upcoming release of the FOMC Minutes on Wednesday for further guidance. The US economy added 147,000 jobs in June, beating expectations and slightly up from May’s revised figure of 144,000. Meanwhile, the Unemployment Rate held steady at 4.1%. These figures reinforced the view that the labor market remains resilient, thereby lowering the odds of an imminent Fed rate cut. As a result, the US Dollar has strengthened, weighing on non-yielding assets such as Gold. ⭐️Personal comments NOVA: Downtrend at the beginning of the week, gold price returns to accumulate below 3300 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: 3337- 3339 SL 3344 TP1: $3328 TP2: $3312 TP3: $3300 🔥BUY GOLD zone: $3297-$3295 SL $3290 TP1: $3308 TP2: $3320 TP3: $3330 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account
OANDA:XAUUSDShort
by Nova-Scalper
1
Is Gold Ready for a Breakout or Pullback? | Weekly ForecastIn this video, we dive deep into the gold market analysis for the week of July 7 to July 11, 2025. I break down everything you need to know from last week’s price action — including the surge to $3,360, the impact of the U.S. tax cut and spending bill, and the 2.2% weekly gain despite consolidation. We also look ahead at what to expect this week, including: 📅 July 9 Trade Tariff Deadline 📉 Key U.S. labor data (Initial Jobless Claims) 🏦 Market sentiment around Fed rate cut speculation 📊 Strategic insights based on technical and macro confluence 👉 If you find this content valuable, don’t forget to Vote, Comment, and Subscribe for weekly market breakdowns. 💬 Drop your thoughts in the comments: Do you think gold will break above $3,360 this week? Or are we gearing up for a deeper pullback? Disclaimer: Based on experience and what I see on the charts, this is my take. It’s not financial advice—always do your research and consult a licensed advisor before trading.
OANDA:XAUUSD
by darcsherry
Gold trend analysis!Gold prices (XAU/USD) are on track to notch a third straight day of gains on Friday, climbing toward the upper boundary of this week’s trading range as escalating trade tensions fuel safe-haven demand. In a significant intensification of global trade disputes, US President Donald Trump issued formal notices this week to multiple trading partners, detailing individual tariff rates set to take effect on August 1 should no agreements be reached. This has rattled investor sentiment and weighed on risk assets, offering solid support to Gold. Meanwhile, expectations for an imminent interest rate cut by the Federal Reserve (Fed) have cooled following last week’s strong US jobs data. As a result, the US Dollar (USD) remains firm, holding near a more than two-week high reached on Thursday. This USD strength could limit the upside for the non-yielding yellow metal in the near term. Therefore, traders may look for a sustained breakout before committing to further bullish positions in the XAU/USD pair. Personal comments : Gold price breaks 3330, maintaining good buying pressure, recovering at the end of the week SET UP GOLD PRICE: SELL GOLD zone: 3367- 3369 SL 3374 TP1: $3355 TP2: $3342 TP3: $3325 BUY GOLD zone: $3306-$3308 SL $3301 TP1: $3315 TP2: $3325 TP3: $3338 Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.
OANDA:XAUUSDShort
by ArthurRudolph
GOLD - Price can continues rise to resistance level and break itHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Price made an upward impulse from the support line of the triangle and rose to the resistance line, breaking two levels. Then the price dropped back, after which repeated impulse and exited from the triangle, reaching the resistance area. After this movement, Gold started to trades inside a wedge, where it dropped from the resistance line to the support line. Next, the price in a short time rose from this line to the resistance line again, breaking $3230 and $3400 levels. But recently, it made a correction to the support line, breaking $3400 level again, and then started to grow. Now, I expect that Gold can little decline and then continue to move up to $3470, breaking the resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️ Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:XAUUSDLong
by WalterMoon
4
Gold Price Analysis July 3GOLD Technical Analysis - D1 Frame On the D1 frame, the uptrend is still being maintained with momentum towards the price gap zone. During the European session, selling pressure started to appear around the resistance zone of 3365 - showing that this is the area where the sellers are making counter-moves. On the chart, the gold price is accumulating and forming a triangle pattern, indicating the possibility of a strong movement phase. If the price breaks the upper border of the triangle (above the 3363 zone), it will likely open up an opportunity to approach the next resistance at 3388. On the contrary, if it breaks the lower border (below the 3330 zone), the correction trend may be triggered, heading towards deeper support zones. Important Zones: Resistance: 3363 – 3388 Support: 3330 – 3311 – 3297 – 3277 Trading Strategy: BUY Breakout: When price breaks above 3363 SELL Breakout: When price breaks below 3330
OANDA:XAUUSD
by TVS-Trader
5
XAUUSD H4 Outlook – July 7, 2025“You don’t chase gold. You set the trap, then wait.” 👋 Hey traders — we’re gearing up for a new week on gold, and the H4 chart is starting to speak clearly. After Friday’s clean push into premium rejection zones, price is now compressing beneath a key supply block. Structure is fragile, and the next move will likely come fast. Let’s position with precision before the breakout. — 🔸 H4 Bias Structure remains bearish short-term, with clear lower highs forming below a major supply at 3344–3351. The broader bias leans neutral as we trade between unmitigated demand and inducement-heavy resistance. Confirmation is everything. — 🔴 Supply Zones (Sell Areas) 3344–3351 → H4 Fair Value Gap + OB combo inside premium → If price wicks above recent highs and rejects here, it could trigger a clean swing sell. 3380–3394 → Origin of the last bearish leg + liquidity wick → High-risk, high-reward rejection zone if price spikes impulsively this week (e.g. post-Fed tone or surprise volatility). — 🟢 Demand Zones (Buy Areas) 3265–3275 → H4 FVG + flip zone + prior sweep level → If price taps and holds here, we may see re-accumulation for a move toward 3327–3340. 3235–3246 → Strong unmitigated OB + discount level → Ideal sniper long zone only on clean rejection + structure shift (BOS on M15+). — 🟡 Flip / Decision Zone 3299–3305 → EMA50 + micro-range equilibrium → If price breaks and holds above this zone with strength, bias turns short-term bullish. If it rejects, continuation down is favored. — 🎯 Execution Notes EMA21/50 are acting as active compression bands — watch for rejection pressure RSI shows no clear divergence yet — but volume is thinning Liquidity is building above 3340 and below 3265 — prepare for traps both ways — 🔚 Final Words Sniper traders aren’t early — they’re precise. If you’ve been reacting too fast lately, this is your week to reset. Gold is telling a story here… but only structure speaks the truth. 🚀 If this helps bring clarity to your outlook, tap follow — we do this daily, with structure, not signals. — 📢 Disclosure: I use Trade Nation’s broker feed on TradingView and I’m part of their influencer program. 📉 This is educational content, not financial advice.
TRADENATION:XAUUSD
by GoldFxMinds
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, Please see our 4H chart update, following on from our 1h chart update. Once again, no surprise with our levels playing out to perfection!! We started the week with both our Bearish 3242 and Bullish 3301 targets hit. This followed with a ema5 cross and lock above 3301 to confirm a continuation into 3370. We got the push up, over 600 pips but just short of the full gap to 3370. We are now seeing playing between 3301 and 3370, keeping in mind the full gap to 3370 remains open, as long as ema5 remains above 3301. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 20 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. The swing range give bigger bounces then our weighted levels that's the difference between weighted levels and swing ranges. BULLISH TARGET 3301 - DONE EMA5 CROSS AND LOCK ABOVE 3301 WILL OPEN THE FOLLOWING BULLISH TARGETS 3370 EMA5 CROSS AND LOCK ABOVE 3370 WILL OPEN THE FOLLOWING BULLISH TARGET 3429 EMA5 CROSS AND LOCK ABOVE 3429 WILL OPEN THE FOLLOWING BULLISH TARGET 3499 BEARISH TARGETS 3242 - DONE EMA5 CROSS AND LOCK BELOW 3242 WILL OPEN THE FOLLOWING BEARISH TARGET 3171 EMA5 CROSS AND LOCK BELOW 3171 WILL OPEN THE SWING RANGE 3089 3171 EMA5 CROSS AND LOCK BELOW 3171 WILL OPEN THE SECONDARY SWING RANGE 3089 3001 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
13
Gold Recovers on Safe-Haven Flows Amid U.S. Trade UncertaintyFX:XAUUSD – Market Overview Fundamental Outlook: Gold has recovered from prior losses, stabilizing on the back of renewed safe-haven demand amid escalating global trade tensions. Analysts point to growing concerns over a broader U.S.-led trade war, which has pushed investors toward gold as a defensive asset. While President Trump has delayed the reimplementation of tariffs until August 1 to allow for negotiation, markets remain cautious, and volatility is expected to persist. Technical Outlook: Gold is currently trading above the pivot level at 3320, which has a consolidation within 3320 - 3342 range Stability above 3342 would likely extend the rally toward 3365, with 3356 as an intermediate resistance. However, a 1H candle close below 3320 could shift momentum back to bearish, targeting 3297 and 3281. Support Levels: 3312 / 3297 / 3281 Resistance Levels: 3342 / 3356 / 3365
OANDA:XAUUSDLong
by SroshMayi
On Swing Traders’ Radar: Gold Pattern Alert on the Daily Chart!Dear Traders, In my daily gold analysis, I’m observing a Head and Shoulders pattern nearing completion. The neckline is currently positioned around the 3,247.00 level. If this neckline breaks to the downside, gold could potentially drop toward the 3,150.00 area. Since this is a one-day analysis—aligned with a swing trading style—it may take some time for the setup to fully play out. I meticulously prepare these analyses for you, and I sincerely appreciate your support through likes. Every like from you is my biggest motivation to continue sharing my analyses. I’m truly grateful for each of you—love to all my followers💙💙💙
TVC:GOLD
by TraderTilki
Trump "stirred up" GOLD recovery but limited by USD appreciationSpot CAPITALCOM:GOLD has rebounded strongly from yesterday's lows, currently trading around $3,333/oz. The main reason is that US President Trump announced a 25% tariff on Japan and South Korea starting August 1, which boosted safe-haven demand. However, the strengthening US Dollar has also limited the broader recovery in gold prices. On Monday local time, US President Trump sent letters to 14 countries including Japan, South Korea and South Africa threatening to impose tariffs. He then signed an executive order to extend the suspension of "reciprocal tariffs" until August 1. Trump announced that he would impose a 25% tariff on imports from Japan and South Korea, effective August 1. In a letter to the leaders of Japan and South Korea, Trump said the tariffs would be imposed on August 1 because the two countries' trade relationship with the United States is "very unfair". This is his first letter to major trading partners ahead of the July 9 deadline to reach a trade deal. Trump said that despite the large trade deficits between the United States and South Korea and Japan, the United States has decided to continue to cooperate with the two countries. However, the United States has decided to move forward on the premise of more balanced and fair trade. Trump said that the trade deficit has posed a major threat to the US economy and even national security, so changes are needed. Starting August 1, 2025, the United States will impose a 25% tariff on all products from South Korea and Japan, regardless of the different tariffs by industry. Additionally, any attempt to circumvent tariffs by shipping through a third country will also be subject to higher tariffs. Trump said companies that choose to build factories or manufacture products in the United States will not have to pay the tariffs. Additionally, if South Korea and Japan decide to increase tariffs on the United States, the United States will impose additional tariffs of the same size on top of the current 25% tariff. Official data released by the People's Bank of China on Monday showed that China's central bank increased its gold reserves in June, marking the eighth consecutive month of increase. Bank of America said that central banks around the world are buying gold to diversify their foreign exchange reserves, thereby reducing their dependence on the US dollar and protecting against inflation and economic instability, and the trend is expected to continue. Technical Outlook Analysis CAPITALCOM:GOLD On the daily chart, gold has recovered from a key technical confluence area, which is the closest support area to note for readers in the weekly publication. The area from $3,292 – $3,300 is the confluence of the 0.382% Fibonacci retracement with the lower edge of the long-term rising price channel. However, the temporary recovery is being limited by the EMA21, the current closest resistance, followed by the 0.236% Fibonacci retracement level. The recovery momentum is significant, but for gold to have enough technical bullish conditions, it needs to take price action above the EMA21, with a bullish breakout of the 0.236% Fibonacci retracement level then the prospect of a new bullish cycle will be opened. If gold breaks above the 0.236% Fibonacci retracement level it will have the next target at the raw price point of $3,400 followed by horizontal resistance at $3,430. During the day, the current gold price should still be assessed as a sideways accumulation trend, when the Relative Strength Index RSI sticks around 50, showing the market's hesitant sentiment. A strong enough fundamental impact to change the structure will give a more specific technical trend in the coming time, and the notable positions will be listed as follows. Support: 3,300 - 3,292 USD Resistance: 3,350 - 3,371 - 3,400 USD SELL XAUUSD PRICE 3366 - 3364⚡️ ↠↠ Stop Loss 3370 →Take Profit 1 3358 ↨ →Take Profit 2 3352 BUY XAUUSD PRICE 3294 - 3296⚡️ ↠↠ Stop Loss 3290 →Take Profit 1 3302 ↨ →Take Profit 2 3308
OANDA:XAUUSDLong
by Xayah_trading
1
Gold Long: Stop loss at 3305, TP at 3426Over in this video, I did a quick revision on the cycle level Elliott Wave counts for Gold before delving down to the lower timeframes. I discussed the alternate counts for Gold and explained how the latest 5-waves up made me retain what you see as the primary count. Essentially, what is important over here is that the stop loss is $3305 and the potential take profit is #3426. Remember to keep your risk tight and good luck in your trading!
TVC:GOLDLong
by yuchaosng