Gold(
XAUUSD) moved as I expected in my previous post and attacked the Support zone($3,282-$3,245) and Support lines for the second time. The question is, can Gold break the Support zone($3,282-$3,245) and Support lines or not!?
Please stay with me.
Gold is moving between Support zone($3,282-$3,245) and Resistance zone($3,386-$3,357) again. In fact, it can be said that Gold has been moving in a range for the past 5-6 days.
From a Classical Technical Analysis perspective, Gold appears to be forming a Symmetrical Triangle Pattern. A break of either line could indicate the next direction for Gold, but since the Symmetrical Triangle Pattern is a Continuation Pattern, the lower line is more likely to break.
In terms of Elliott Wave Theory analysis, it seems that we still have to wait for the next five downwaves.
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Today, important U.S. data — JOLTS Job Openings and CB Consumer Confidence — will be released.
Let’s quickly review their potential impact on Gold:
JOLTS Job Openings:
If the number comes lower than expected, it signals a weakening labor market, increasing the chances of a dovish Fed → Bullish for Gold.
If the number is stronger than expected, it indicates a robust labor market, pushing the Fed to stay hawkish → Bearish for Gold.
CB Consumer Confidence:
A drop in consumer confidence reflects economic worries, driving demand for safe-haven assets like Gold → Bullish.
A rise in consumer confidence shows economic strength, reducing the appeal of Gold → Bearish.
Historical Impact:
Both indices have caused strong intraday moves in Gold recently, especially if the figures surprise the market.
Summary:
Weak JOLTS and low Confidence → Gold bullish
Strong JOLTS and high Confidence → Gold bearish
Be prepared for high volatility during the releases. Always manage your risk carefully!
------------------------------------------
I expect Gold to attack the Support zone($3,282-$3,245) and Support lines for at least the third time, and if it breaks, the next target could be $3,223.
Note: If Gold can move above $3,393, we can expect more pumps and maybe make a new All-Time High(ATH).
Gold Analyze ( XAUUSD ), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
XAUUSD) moved as I expected in my previous post and attacked the Support zone($3,282-$3,245) and Support lines for the second time. The question is, can Gold break the Support zone($3,282-$3,245) and Support lines or not!? Please stay with me.
Gold is moving between Support zone($3,282-$3,245) and Resistance zone($3,386-$3,357) again. In fact, it can be said that Gold has been moving in a range for the past 5-6 days.
From a Classical Technical Analysis perspective, Gold appears to be forming a Symmetrical Triangle Pattern. A break of either line could indicate the next direction for Gold, but since the Symmetrical Triangle Pattern is a Continuation Pattern, the lower line is more likely to break.
In terms of Elliott Wave Theory analysis, it seems that we still have to wait for the next five downwaves.
------------------------------------------
Today, important U.S. data — JOLTS Job Openings and CB Consumer Confidence — will be released.
Let’s quickly review their potential impact on Gold:
JOLTS Job Openings:
If the number comes lower than expected, it signals a weakening labor market, increasing the chances of a dovish Fed → Bullish for Gold.
If the number is stronger than expected, it indicates a robust labor market, pushing the Fed to stay hawkish → Bearish for Gold.
CB Consumer Confidence:
A drop in consumer confidence reflects economic worries, driving demand for safe-haven assets like Gold → Bullish.
A rise in consumer confidence shows economic strength, reducing the appeal of Gold → Bearish.
Historical Impact:
Both indices have caused strong intraday moves in Gold recently, especially if the figures surprise the market.
Summary:
Weak JOLTS and low Confidence → Gold bullish
Strong JOLTS and high Confidence → Gold bearish
Be prepared for high volatility during the releases. Always manage your risk carefully!
------------------------------------------
I expect Gold to attack the Support zone($3,282-$3,245) and Support lines for at least the third time, and if it breaks, the next target could be $3,223.
Note: If Gold can move above $3,393, we can expect more pumps and maybe make a new All-Time High(ATH).
Gold Analyze ( XAUUSD ), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Trade was activated = $3,321Trade closed: target reached
Full Target Done
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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.
🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Related publications
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.