GOLD (XAU/USD)
🔑 Key levels:
Resistance: $3,250 – $3,280
Strong Support: $3,150 – $3,120 | $3,050 (a breakdown could push lower)
🗓️ Important News:
FOMC Minutes (Wednesday, May 21) – market will react to tone regarding inflation and rate policy.
US Manufacturing & Services PMI (Thursday, May 22)
🎯 Strategy:
If gold dips to the $3,120–$3,150 zone, consider short-term buying, targeting a move back to $3,250.
A break below $3,100 may signal a sell opportunity, targeting $3,050 or lower.
A breakout above $3,280 → consider buying the breakout. Avoid trading in the chop zone ($3,200–$3,250) unless clear momentum.
💵 USD Index (DXY)
🔑 Key levels:
Resistance: 104.50 – 105.00
Key Support: 103.20 – 102.80
🗓️ Important News:
FOMC Minutes (high impact)
U.S. Housing data, PMI, Durable Goods Orders
🎯 Strategy:
DXY is showing weakness. A break below 103.20 would suggest further USD weakness → bullish for gold and EUR/USD.
If DXY bounces from 103.20 → short-term recovery likely → possible correction in risk assets.
EUR/USD setup: consider buying on a breakout above 1.1000 targeting 1.1200.
📈 U.S. Stock Indices (S&P 500, NASDAQ)
🔑 Key Levels (S&P 500):
Resistance: 5,300 – 5,350 (near all-time highs)
Support: 5,200 – 5,150
🗓️ Important News:
FOMC Minutes – could cause major volatility
Possible speech from Fed Chair Powell
ETF flows and any remaining earnings reports
🎯 Strategy:
If S&P holds above 5,200 → maintain buy on dips strategy.
A break below 5,150 → opens risk for a deeper pullback toward 5,000.
Maintain long positions as long as markets price in rate cuts in Q3.
✅ Weekly Strategy Summary:
Market Primary Strategy Key Levels to Watch
Gold Buy around $3,120–$3,150 Support $3,120 – Resistance $3,280
USD (DXY) Sell if it breaks below 103.20 Support 103.20 – Resistance 104.50
S&P 500 Buy on dips above 5,200 Support 5,150 – Resistance 5,300–5,350
🔑 Key levels:
Resistance: $3,250 – $3,280
Strong Support: $3,150 – $3,120 | $3,050 (a breakdown could push lower)
🗓️ Important News:
FOMC Minutes (Wednesday, May 21) – market will react to tone regarding inflation and rate policy.
US Manufacturing & Services PMI (Thursday, May 22)
🎯 Strategy:
If gold dips to the $3,120–$3,150 zone, consider short-term buying, targeting a move back to $3,250.
A break below $3,100 may signal a sell opportunity, targeting $3,050 or lower.
A breakout above $3,280 → consider buying the breakout. Avoid trading in the chop zone ($3,200–$3,250) unless clear momentum.
💵 USD Index (DXY)
🔑 Key levels:
Resistance: 104.50 – 105.00
Key Support: 103.20 – 102.80
🗓️ Important News:
FOMC Minutes (high impact)
U.S. Housing data, PMI, Durable Goods Orders
🎯 Strategy:
DXY is showing weakness. A break below 103.20 would suggest further USD weakness → bullish for gold and EUR/USD.
If DXY bounces from 103.20 → short-term recovery likely → possible correction in risk assets.
EUR/USD setup: consider buying on a breakout above 1.1000 targeting 1.1200.
📈 U.S. Stock Indices (S&P 500, NASDAQ)
🔑 Key Levels (S&P 500):
Resistance: 5,300 – 5,350 (near all-time highs)
Support: 5,200 – 5,150
🗓️ Important News:
FOMC Minutes – could cause major volatility
Possible speech from Fed Chair Powell
ETF flows and any remaining earnings reports
🎯 Strategy:
If S&P holds above 5,200 → maintain buy on dips strategy.
A break below 5,150 → opens risk for a deeper pullback toward 5,000.
Maintain long positions as long as markets price in rate cuts in Q3.
✅ Weekly Strategy Summary:
Market Primary Strategy Key Levels to Watch
Gold Buy around $3,120–$3,150 Support $3,120 – Resistance $3,280
USD (DXY) Sell if it breaks below 103.20 Support 103.20 – Resistance 104.50
S&P 500 Buy on dips above 5,200 Support 5,150 – Resistance 5,300–5,350
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.