Excellent start of E.U. sessionAs discussed throughout my yesterday's session commentary: "My position: I am Highly satisfied with my Profit and will take early weekend break, not catching a Falling knife."
I have monitored the Price-action from sidelines throughout Friday's session as explained above however mid E.U. session I have engaged two #100 Lot Buying orders on #3,278.80 few moments ago and closed both of my Scalps on #3,285.80 with excellent Profit.
Quick update: No Swing orders today, only aggressive Scalps similar to Scalp orders I mentioned above from my key re-Buy points. If #3,300.80 is recovered, newly formed Bullish structure will push for #3,313.80 and #3,327.80 test. If #3,300.80 benchmark is preserved, I will still keep Buying (Scalp only however). I will have Gold's major move revealed after today's session.
XAUUSDG trade ideas
The rebound short-selling trend remains unchangedFrom the 4-hour analysis, the upper short-term resistance is around 3297-3301, and the pressure at 3315-3316 is paid attention to. The pressure at 3324 is focused on. In terms of operation, the rebound continues to be the main short and the trend is downward. The short-term support below is around 3250-3255. The overall main tone of high-altitude participation remains unchanged relying on this range.
Gold remains strong, and we continue to buy on pullbacks!ADP employment unexpectedly turned negative, and the probability of a rate cut increased again
The ADP employment report released on the same day showed that the number of private sector jobs in the United States decreased by 33,000 in June, the first net loss since March 2023, and the May data was also significantly revised down to +29,000. After the release of the ADP data, the probability of the Federal Reserve's interest rate cut in July quickly rose from 20% before the data was released to about 27.4%. The market's bet on a rate cut before September has almost been fully factored in, and federal funds futures also show that the possibility of a 50 basis point rate cut has risen to 22%.
This "frown-making" data released a strong signal of cooling in the labor market before Thursday's non-farm report. If today's non-farm continues to be weaker than expected, it may force the Federal Reserve to act faster.
Gold opened high and then retreated continuously. From the daily chart, gold is still in an upward trend in the long term. The previous market rebounded effectively after touching the downward trend line, and the rebound force was considerable. With the restart of the bullish force, the main idea can carry the trend and do more on dips. In addition, from the 4-hour chart, gold has broken through the previous downward trend line and has gone out of the V-shaped reversal pattern, which means that the previous short-term downward trend has ended. At present, a new trend is also opening up in the 4-hour chart. The rise of gold has also established an upward trend line. You can consider buying on dips based on the upward trend line 3332. However, due to insufficient bottoming time in the previous stage, it may still face the risk of decline, so you should set the stop loss with caution. From the 1-hour chart, gold fell after opening high, and the bullish trend remains unchanged. The points for long orders can consider 3334 and 3328.
Gold operation suggestions: Go long on gold near 3325-3335, with a target of 3350-3360.
Gold – Can It Recover From 3 Week LowsGold is back in focus this morning after it fell to a 3 week low at 3287 in early European trading.
Part of the reason for the fall may have been the on-going ceasefire agreement holding between Israel and Iran, which can reduce the need for Gold as a safe haven, or prices may have been influenced by comments from US Commerce Secretary Lutnick made to Bloomberg TV overnight which suggested that the Trump administration have plans to reach agreements with a set of 10 major trading partners ahead of the July 9th pause deadline to reinstate higher tariffs.
Of course, these potential Gold negatives need to be balanced against the potential positives of increased optimism in recent days that the Federal Reserve may cut interest rates by more than expected into the end of 2025 as the US economy stalls, and the US dollar printing a fresh 3 year low yesterday.
Looking forward, the release of the Fed’s preferred inflation gauge, the PCE Index at 1330 BST later today could hold the key to whether Gold falls below support to even lower levels (see technical section below) or moves back higher again into Friday’s close.
Whatever the outcome, its setting up for an interesting end of the week for Gold.
Technical Update:
With selling pressure developing in Gold again so far this morning, traders might well be searching for next support levels that may be successful in limiting current price declines, or if broken, could in turn lead to a more extended phase of weakness.
Much will depend on future price trends and market sentiment, but as the chart above shows, latest price activity is this morning posting new 3-week lows for Gold. This suggests traders might now be focused on 3245, equal to the last correction low in price posted on May 29th as the next possible support level.
While not a guarantee of further declines if broken, 3245 closing breaks could lead to further price weakness towards 3120, the May 15th downside extreme.
Of course, it is possible this 3245 low does continue to act as support to price weakness and may turn activity higher again. However, if this is to lead to a more sustained period of price strength, resistance might now stand at 3356.
Equal to the Bollinger mid-average, closing breaks might be required to suggest possibilities to resume price strength back towards the 3435/3452 May 6th and June 16th price failure highs.
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Gold Gains Strength as the Dollar Wobbles – What’s Next?Hello, my dear friends – let’s take a fresh look at gold after yesterday’s moves!
At the moment, gold is trading steadily around 3,345 USD as the market awaits tonight’s highly anticipated U.S. Nonfarm Payrolls report. Yesterday’s ADP data caused a mild shake in sentiment, showing the first drop in private sector employment in over two years. This immediately fueled expectations that the Federal Reserve could move to cut interest rates sooner than expected — putting pressure on the U.S. dollar and offering support to gold as a non-yielding safe haven.
Meanwhile, the DXY (U.S. Dollar Index) has slipped to its lowest level in nearly three years, making dollar-denominated assets like gold more attractive to international investors. On top of that, lingering geopolitical tensions and ongoing strong central bank buying continue to reinforce gold’s role as a long-term store of value.
From a technical perspective on the H4 timeframe, gold is showing a very tight structure after breaking out of a prolonged downtrend channel. Price is currently consolidating between 3,330 and 3,360 USD, with a clearly defined bullish formation: higher highs and higher lows — a strong signal that the uptrend is starting to take shape again.
The key level to watch now is 3,358 USD. If price breaks above this level with convincing buying momentum, I expect gold to enter a new bullish leg toward 3,390 – 3,407 USD, aligning with the Fibonacci 1.618 extension — often a magnet for price during strong trends. On the other hand, if there’s a short-term pullback, the support zone around 3,327 – 3,318 USD will be critical, offering a potential re-entry point for buyers looking to ride the next wave up.
This is not a phase for impulsive decisions — but it’s definitely not a moment to be passive either. The breakout could come fast, and only prepared traders will be ready to act.
Gold (XAU/USD) Bearish Trade Setup – June 27, 2025Entry Point: Around 3,300.98 USD
Stop Loss (SL): ~3,312.20 USD
Take Profit (TP): 3,229.33 USD
Current Price: 3,286.15 USD
Risk-Reward Ratio: ~1:6.3
(Potential reward ≈ 71.65 pts; risk ≈ 11.22 pts)
Technical Breakdown:
Trend:
The price is in a short-term downtrend, supported by:
Lower highs and lower lows.
Price trading below both 50 EMA (red) and 200 EMA (blue), confirming bearish momentum.
Bearish Breakout:
Price broke below a key support-turned-resistance zone near 3,300–3,302, triggering sell pressure.
Resistance Area:
Strong rejection at 3,302–3,312 zone, which is now acting as resistance.
SL is placed just above this zone to protect against false breakouts.
Target Zone:
TP set at 3,229.33, aligning with a previous support zone — a logical area for price to react.
Strategy Notes:
Bias: Bearish
Entry confirmation: Already triggered.
Risk Management: SL placement is tight and strategic; RR ratio is highly favorable.
Next support below TP: If 3,229 breaks, further downside could follow.
Summary:
This setup shows a well-defined bearish continuation with a clean break of support, a controlled SL above resistance, and a strong RR ratio. A suitable trade for trend-following strategies, but price must not retrace above 3,312 for this idea to remain valid.
MULTIPLE TIME FRAME ANALYSIS, gather data to make good decisionsAll the information you need to find a high probability trade are in front of you on the charts so build your trading decisions on 'the facts' of the chart NOT what you think or what you want to happen or even what you heard will happen. If you have enough facts telling you to trade in a certain direction and therefore enough confluence to take a trade, then this is how you will gain consistency in you trading and build confidence. Check out my trade idea!!
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Where will gold go?In 4 hours, it has fallen below the previous low of 3295, and will continue to fall. There are two supports below, namely 3280 and 3265. Don't expect a big rebound before going short in a negative market. If the rebound is large, it will not fall. This kind of negative decline is generally judged by the 15- and 30-minute patterns. When resistance appears in the big cycle, the market has actually fallen a lot.
Today, I think the pressure is mainly in the 3300 and 3310 areas. 3310 can be considered as the pressure of the top and bottom conversion. Pay attention to 3280 and 3265 below. If you consider going long, these two positions are the main positions. For the time being, the general direction is mainly short.
The bearish trend is confirmed, it’s time to participate.Gold overnight short orders have been stopped at a loss, because it broke through the key pressure of 3325. However, we must grasp the trend of the market, adhere to the idea of technical analysis as the main and news as the auxiliary, and make a comprehensive judgment. Don't be at a loss about the market analysis because of the stop loss. There is nothing wrong with waiting for the market to step back and do more, but the market does not give opportunities, but forces you to chase the rise. Of course, from the perspective of risk ratio, high altitude is definitely more stable than chasing more.
From the current gold trend analysis, the focus on the upper side is the 3340-3350 line of pressure, the short-term support on the lower side is around 3310-3320, and the key support on the 3295-3301 line is focused. Relying on this range as a whole, the main tone of high-altitude and low-multiple participation remains unchanged. In the middle position, it is recommended to wait and see, chase orders cautiously, and wait patiently for key points to enter the market.
Operation strategy 1: Short gold near 3340-3350, target 3325-3315.
Operation strategy 2: Go long on gold around 3310-3320, target 3330-3340.
GOLD (XAU/USD) Breakdown Imminent: SK System Signals Further DowThe 4-hour chart for GOLD (XAU/USD) shows the price is currently testing a critical support zone around $3,224.18, which aligns with previous swing lows and a confluence of technical factors. The SK System, which combines price action, support/resistance levels, and momentum indicators, highlights the following key observations:
Support Zone: The price has reached a strong historical support level near $3,224.18, where buyers have previously stepped in. This zone is further reinforced by the nearby psychological level of $3,200.00.
Prediction:
Bearish Scenario: A decisive close below $3,224.18 with increasing volume may extend the downtrend toward $3,150.00 or lower.
XAU/USD) bearish Trand analysis Read The captionSMC trading point update
Technical analysis of (XAU/USD) on a short-term timeframe, incorporating several key tools and concepts:
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Overview of the Analysis
Price Level (Current): Around $3,273.40
EMA 200 (Blue Line): Around $3,337.95 (signaling broader trend)
Resistance Zone (Yellow Box): Between approximately $3,300–$3,320
Support/Target Zone: Around $3,231.11
RSI (Relative Strength Index): At 32.88, which is near oversold territory (below 30)
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Interpretation of Chart Structure
1. Descending Channel:
Price is moving within a downward-sloping channel.
Suggests a bearish trend is in play.
2. Resistance Level (Yellow Box):
Price is expected to retest this area and face resistance.
Confluence of a supply zone and upper trendline, reinforcing its strength.
3. Projected Price Action:
Price may climb back up into the resistance zone.
A rejection is anticipated, leading to another leg down.
The target is around $3,231.11, which matches previous measured moves.
4. Measured Moves (Blue Arrows):
Highlights historical price drops of ~79 points.
Repeating this pattern suggests symmetry and continuation.
5. RSI Indicator:
Currently at 32.88: nearing oversold, but not quite.
No clear bullish divergence, so price could drop further.
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Trade Idea Summary
Bias: Bearish
Entry Zone: Near $3,300–$3,320 (resistance)
Target: Around $3,231.11
Invalidation: If price breaks and holds above $3,337–$3,340 (EMA 200 and channel breakout)
Mr SMC Trading point
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Caution/Considerations
Watch for false breakouts above the resistance zone.
Monitor RSI for potential bullish divergence that could invalidate the downside.
Be cautious around the U.S. economic news event icon, which might cause volatility.
plesse support boost 🚀 this analysis)
H4 Outlook | XAUUSD Monday • June 30 • 2025Hey fam,
Fresh week on gold — clean structure, clean levels, clean execution ahead. Forget the noise. We trade price, we trust precision.
🔍 Market Flow & Bias
Gold remains bearish on the H4 timeframe.
Lower highs, lower lows, clean rejection from supply, and all EMAs (21/50/200) aligned down. RSI hovers near 30, showing heavy momentum — not exhaustion yet.
Price is coiled, not crushed. If structure holds, we follow the short flow into deeper zones.
📌 Bias: Bearish below 3325. Pullbacks into supply = opportunity.
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🧱 Zones of Interest (Clean & Confluent)
🔺 Zone 1 – 3380–3405 | Extreme Supply
Top OB zone with resting liquidity above. If price sweeps this level and fails, expect a sharp reversal. Only valid with reaction (CHoCH or bearish engulfing).
🔺 Zone 2 – 3325–3350 | Main Supply
Strong H4 breaker block. Origin of the last major selloff. Already defended once — if it holds again, look for sniper shorts from within.
🔺 Zone 3 – 3285–3305 | Frontline Supply
First inducement zone. Clean micro-OB that could give early fade trades. If bulls break through, Zone 2 becomes magnet.
⚖️ Zone 4 – 3260–3240 | Flip Shelf
Range base. If price holds, bulls might step in short-term. But a clean break below shifts momentum fully toward lower demand.
🟢 Zone 5 – 3215–3195 | Main Demand
Unmitigated OB with imbalance. If gold drops here with momentum and forms rejection wicks or CHoCH on LTF → long opportunity for bounce.
🟢 Zone 6 – 3150–3120 | Extreme Demand
Macro swing demand. Deepest discount level on the chart. Valid only if market flushes — this is the “last stand” for buyers.
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🎯 Key Levels Zone Cheat-Sheet
Above
• 3380–3405 → Extreme Supply (trap zone)
• 3325–3350 → Main Supply block
• 3285–3305 → Micro OB inducement
Below
• 3260–3240 → Flip shelf (structural pivot)
• 3215–3195 → Main buy zone
• 3150–3120 → Deep macro demand
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⚔️ Execution Plan
We sell from reaction zones, not assumptions.
We buy from confluence, not hope.
Every zone above comes with condition: no confirmation, no entry.
—
📣 Found this useful?
Drop a ⚔️ in the comments, tag your bias, 🚀and follow GoldFxMinds for sniper-level execution.
This isn’t guessing. This is structure. This is clarity.
GOLD drops sharply to 3300 and found important support areaThe recent bearish momentum on GOLD has met a good support zone and at present we started to see early signs of bullish interest returning, right after we got a beautiful rejection from the zone.
Currently I’m expecting for the price to bounce to the target near 3,390 . If this bullish push continues with strong volume and momentum, I’ll be locking in that bias and planning my entry accordingly. I could get involved right here for a more aggressive entry. It’s a bit riskier, but if the structure confirms, I’m more than happy to take the shot, as sometimes the best trades come when you trust your setup.
This is not financial advice.
GOLD GOES 'PREPARING FOR SCORCHING-HOT JULY'. UPSHOT OF 1H 2025Gold market shines bright in first half of 2025, with nearly 25 percent year-to-date gain, which becomes one of the best start of the year in history ever following 1H 2016 (became a launching pad for Gold to more than Triple in price over next decade) and 1H 1973 (where Gold bugs sharply skyrocketed to infinity and beyond, printed more than 10x over next decade).
The gold spot market in July 2025 is shaped by both fundamental and technical factors supporting a cautiously bullish outlook.
Fundamental perspectives
Were you ready or not, Gold prices have surged significantly in 2025, driven by persistent global uncertainties including geopolitical conflicts (e.g., Middle East tensions), trade disputes, and inflation concerns.
Central banks, notably the Federal Reserve, are expected to cut interest rates later in 2025, reducing the opportunity cost of holding gold, a non-yielding asset. This monetary easing alongside continued inflation worries and safe-haven demand underpins strong gold fundamentals.
Major financial institutions like J.P. Morgan and UBS forecast gold prices averaging around $3,500–$3,675 per ounce in late 2025, with potential to reach $4,000/oz by mid-2026.
Central bank gold purchases and diversification away from US dollar assets also support demand.
Technical perspectives
Technically, gold has experienced volatile but mostly sideways trading in a roughly $300 range around $3,200–$3,500 since mid-2025, reflecting consolidation after a strong rally earlier in the year.
Key support lies near $3,000 and $3,200 levels (125-Day, or 6-Month SMA), with resistance around $3,500 to $3,800. Indicators such as moving averages and RSI suggest an upward trend with possible short-term corrections.
A breakout above $3,500 could trigger further gains toward $3,800, while a drop below $3,200 may lead to testing $3,000 support.
Overall, July is expected to see continued range-bound trading amid new external uncertainties, with bullish momentum intact.
In summary, gold’s fundamentals remain robust due to macroeconomic and geopolitical drivers, while technicals point to consolidation with potential for renewed upward moves in the July 2025 spot market.
--
Best #GODL wishes,
@PandorraResearch Team 😎
The bears will take the 3290-3280 area stronglyGold started to fall from 3342 during the day and fell below 3300 at one point. Gold is in an obvious short position, and during the London market, gold continued its downward momentum without any decent rebound. Gold is in an extremely weak state. In the absence of a rebound in the London market, I think New York is very likely to continue to fall.
According to the current structure, gold is facing technical suppression of the head and shoulders in the short term, which greatly limits the rebound space of gold and suppresses the rebound limit within 3335. As the center of gravity of gold moves down, the resistance in the short term moves down to the 3315-3325 area. After breaking through 3330, the downward space has been opened up to a certain extent. So don’t be fooled by the false bullish candle that appear near 3330. Gold will inevitably continue to fall to the 3290-3280 area.
The 3290-3280 area is bound to be won, so shorting gold is still the first choice for short-term trading. You can consider shorting gold with the 3315-3325-3335 area as resistance, and look to the target area: 3295-3285-3275.
XAU/USD 15M CHART PATTERNHere's a breakdown of your XAUUSD (Gold vs USD) Buy trade setup:
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🟢 Trade Type: Buy (Long)
Entry Price: 3321
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🎯 Take Profit Levels:
1. TP1: 3330 (9 pips gain)
2. TP2: 3340 (19 pips gain)
3. TP3: 3350 (29 pips gain)
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🔴 Stop Loss:
SL: 3305 (16 pips risk)
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📊 Risk-Reward Ratios:
TP1: ~1:0.56
TP2: ~1:1.19
TP3: ~1:1.81
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✅ Analysis:
The setup shows a moderate risk with potential for compounding gains.
Ensure there's enough momentum or support confirmation at or around 3321.
Your stop loss is fairly tight (16 pips) — consider volatility during news hours (like NFP or Fed announcements).
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Would you like a chart analysis, help with position sizing, or automating this setup (e.g., for MetaTrader/TradingView)?
GOLD ROUTE MAP UPDATEHey Everyone,
Another smashing day on the charts with our levels being respected perfectly inline with our plans to buy dips.
After completing our bearish 3348 and bullish 3376 target we had the cross and lock above 3376 leaving a gap to 3395, which fell short just by few pips.
We then had the cross and lock below 3348 opening the swing range, which was also hit perfectly. We got the perfect bounce, just like we analysed allowing us to buy dips and now seeing the swing range carry out the move. We will see if this is completed for the full swing range 3348.
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
3376 - DONE
EMA5 CROSS AND LOCK ABOVE 3376 WILL OPEN THE FOLLOWING BULLISH TARGETS
3395
EMA5 CROSS AND LOCK ABOVE 3395 WILL OPEN THE FOLLOWING BULLISH TARGET
3419
EMA5 CROSS AND LOCK ABOVE 3419 WILL OPEN THE FOLLOWING BULLISH TARGET
3440
BEARISH TARGETS
3348 - DONE
EMA5 CROSS AND LOCK BELOW 3348 WILL OPEN THE SWING RANGE
3330 - DONE
3306 - DONE
EMA5 CROSS AND LOCK BELOW 3306 WILL OPEN THE SECONDARY SWING RANGE
3288
3271
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
GOLD DAILY OUTLOOK | BEAR MARKET STRUCTURE CONFIRMED 📉 Trend Reversal Underway – Prepare for Lower Levels
The daily structure on Gold (XAUUSD) confirms a shift from accumulation to distribution.
Here's what stands out:
🔻 Key Breakdown Factors:
Failure at O_FIB Rejection Zone
The price failed to sustain above the upper Fib extension and supply zone (marked in red). Multiple attempts at reclaiming this level have resulted in sharp rejections, signaling exhaustion of buyers.
Break of Mid-Range Structure
We've decisively closed below the range midpoint, with strong bearish daily candles. This confirms loss of control by bulls and opens the door for a move toward deeper retracement zones.
Support Zones Exposed
The 0.618 FIB & 100 MA area around ~3160 is now a primary target. This zone held previously, but repeated touches weaken structure.
The 1.0 FIB & 200 MA zone around ~2960 is the macro support target. If sentiment continues to deteriorate, this will be the magnet.
EMA Crosses Rolling Over
Price has decisively lost the 9/21 EMA zone. Until a daily close reclaims this zone (~3335+), bearish momentum remains valid.
📉 Bearish RSI Momentum
While not a primary signal, RSI confirms momentum divergence and bear control below the midline. No sign of reversal.
🎯 Bearish Bias Until Reclaim of 3335 Zone
📌 Next Target = 3160, then 2960
🛑 Invalidation = Daily close above 3340 with strong volume and reclaim structure
This is not a short-term pullback — it's the beginning of a deeper correction. Gold is no longer in the “safe-haven” trade. Be patient, position with structure, and let the trend do the work.
Focus will be on fading the traps on pullbacks into structure.
Gold Weekly Recap – Week 27 (30 Jun – 04 Jul)🟡 XAUUSD | MJTrading
Overview
Gold (XAUUSD) staged a significant recovery this week after retesting a critical support zone. Price action reflected strong buying interest at lower levels, followed by consolidation near mid-range resistance.
🔹 Key Levels:
Strong Support Zone: 3,246 – 3,250
Weekly Low: 3,246.35 (30 June)
Weekly High: 3,365.77 (3 July)
Closing Price: ~3,343
🔹 Price Action Summary:
✅ Early Week Retest & Reversal
After the prior week’s decline, gold opened the week near the major support area around 3,246. This zone acted as a strong demand pocket, triggering a swift rejection and initiating a bullish reversal.
✅ Sustained Rally to Resistance
Price climbed steadily, riding the 15-period EMA to reach the weekly high of 3,365.77 on 3 July. This move represented a nearly 4% recovery off the lows, fueled by renewed safe-haven flows and short covering.
✅ Midweek Consolidation
Following the rally, gold entered a sideways consolidation phase between 3,340 and 3,365. EMA flattening reflected a pause in momentum as traders assessed the next directional catalyst.
✅ Late-Week Pullback
Toward the end of the week, price tested the 3,310–3,320 area before modestly bouncing into the Friday close. Overall, the market maintained a cautiously bullish tone while holding above the prior support.
🔹 Technical Perspective:
🔸 Bias: Cautiously Bullish
Price defended the strong support and printed a higher low structure.
Sustained closes above 3,300 maintain the bullish outlook.
🔸 Near-Term Resistance:
3,365–3,390 remains the immediate supply zone to monitor for breakout attempts.
🔸 Key Support:
The 3,246–3,250 area continues to be the primary downside line in the sand.
🔹 Special Note – 4th July US Bank Holiday
Trading volumes were notably lighter on Thursday, 4th July, due to the US Independence Day holiday. This contributed to reduced liquidity and muted volatility, with many traders and institutions off desks. The thinner market conditions likely influenced the late-week pullback and consolidation, as participation was limited heading into the weekend.
🔹 Sentiment & Outlook
The decisive rebound from support suggests that buyers are defending value zones aggressively. However, failure to close the week above 3,365 leaves gold vulnerable to another retest of mid-range levels if fresh catalysts don’t emerge.
Traders should watch for:
A clean breakout above 3,365 to confirm continuation higher.
Any sustained weakness below 3,300 as a signal of fading bullish momentum.
🧭 Next Week’s Focus:
Monitoring whether the consolidation evolves into accumulation or distribution.
Watching for a breakout or deeper pullback
Reactions to upcoming economic data
EMA alignment: If the 15 EMA continues to track above the 60 EMA, it supports a bullish bias.
Chart Notes:
The main chart highlights this week’s action, while the inset provides a fortnight overview of the broader decline and recovery for context.
Thank you for your time and your support...
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Gold Under Pressure As Dollar StrengthenGold remains under pressure after a false breakout at $3,350, as the dollar's sudden strength dominates the market. Despite Powell's slightly dovish tone, Tuesday's PMI and JOLTs job data favored the dollar, keeping the market in limbo. Technically, gold has established a new range between $3,350 and $3,300. A drop to the lower end of this range could spark short-term buying opportunities. With the ADP numbers on the horizon, the market awaits further cues.