XAUUSD (Gold/USD) – 1H Chart
📊 Technical Analysis:
Chart Pattern:
The chart shows a clear bearish market structure, with successive lower highs and lower lows forming.
A bear flag or corrective structure broke to the downside, confirming bearish continuation.
There's a clear liquidity sweep near the resistance zone (red area) followed by a rejection, indicating strong seller presence.
Key Levels:
Resistance Zone: 3330–3345 (highlighted in red) – previous support turned resistance (confirmed by blue arrows).
Support Zone: 3202–3223 (highlighted in green) – price is projected to test this demand zone again.
Price Action:
Sharp rejection from the resistance zone with bearish engulfing candles suggests continued selling pressure.
A lower high was recently formed, hinting at a possible final push down to the green zone.
Short-Term Bias: Bearish
Entry: Around 3330–3340
Target: 3220–3205 zone
Stop Loss: Above 3345 (last swing high)
🌍 Fundamental Analysis:
US Economic Data:
Strong recent US employment numbers or hawkish Fed commentary could be strengthening the USD, pressuring gold.
Expectations of higher-for-longer interest rates weigh on non-yielding assets like gold.
Geopolitical Landscape:
Any cooling in geopolitical tensions or a shift away from safe-haven assets can cause further gold weakness.
Inflation Trends:
If inflation shows signs of easing in the US, Fed rate hike expectations decline—currently not the case, maintaining bearish pressure on gold.
DXY Correlation:
The U.S. Dollar Index (DXY) likely remains strong, which inversely affects gold’s value.
📊 Technical Analysis:
Chart Pattern:
The chart shows a clear bearish market structure, with successive lower highs and lower lows forming.
A bear flag or corrective structure broke to the downside, confirming bearish continuation.
There's a clear liquidity sweep near the resistance zone (red area) followed by a rejection, indicating strong seller presence.
Key Levels:
Resistance Zone: 3330–3345 (highlighted in red) – previous support turned resistance (confirmed by blue arrows).
Support Zone: 3202–3223 (highlighted in green) – price is projected to test this demand zone again.
Price Action:
Sharp rejection from the resistance zone with bearish engulfing candles suggests continued selling pressure.
A lower high was recently formed, hinting at a possible final push down to the green zone.
Short-Term Bias: Bearish
Entry: Around 3330–3340
Target: 3220–3205 zone
Stop Loss: Above 3345 (last swing high)
🌍 Fundamental Analysis:
US Economic Data:
Strong recent US employment numbers or hawkish Fed commentary could be strengthening the USD, pressuring gold.
Expectations of higher-for-longer interest rates weigh on non-yielding assets like gold.
Geopolitical Landscape:
Any cooling in geopolitical tensions or a shift away from safe-haven assets can cause further gold weakness.
Inflation Trends:
If inflation shows signs of easing in the US, Fed rate hike expectations decline—currently not the case, maintaining bearish pressure on gold.
DXY Correlation:
The U.S. Dollar Index (DXY) likely remains strong, which inversely affects gold’s value.
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.