📊 Market Overview:
Gold (XAU/USD) slightly retreated to around $3,325/oz during the May 26 session, after reaching a two-week high of $3,365. The main reason was the increased investor risk appetite after U.S. President Donald Trump postponed a plan to impose 50% tariffs on EU goods, reducing safe-haven demand for gold.
However, the long-term bullish trend remains supported by a weakening U.S. dollar and expectations of interest rate cuts from major central banks.
📉 Technical Analysis:
• Key Resistance: $3,350 – $3,365
• Nearest Support: $3,325 – $3,285
• EMA: Price remains above the EMA50, indicating a sustained uptrend.
• RSI Indicator: Near 50, giving a neutral signal.
• MACD: Slight bullish signal.
• ADX: 36.998, indicating a strong upward trend.
• Price Pattern: Price is fluctuating within the $3,200 – $3,500 range, with the EMA50 at $3,200 acting as strong support.
📌 Outlook:
Gold may continue to experience a slight short-term correction if market risk appetite remains elevated. However, the long-term uptrend is still supported by a weak USD and expectations of rate cuts.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: $3,350 – $3,365
🎯 TP: $3,300
❌ SL: $3,380
Gold (XAU/USD) slightly retreated to around $3,325/oz during the May 26 session, after reaching a two-week high of $3,365. The main reason was the increased investor risk appetite after U.S. President Donald Trump postponed a plan to impose 50% tariffs on EU goods, reducing safe-haven demand for gold.
However, the long-term bullish trend remains supported by a weakening U.S. dollar and expectations of interest rate cuts from major central banks.
📉 Technical Analysis:
• Key Resistance: $3,350 – $3,365
• Nearest Support: $3,325 – $3,285
• EMA: Price remains above the EMA50, indicating a sustained uptrend.
• RSI Indicator: Near 50, giving a neutral signal.
• MACD: Slight bullish signal.
• ADX: 36.998, indicating a strong upward trend.
• Price Pattern: Price is fluctuating within the $3,200 – $3,500 range, with the EMA50 at $3,200 acting as strong support.
📌 Outlook:
Gold may continue to experience a slight short-term correction if market risk appetite remains elevated. However, the long-term uptrend is still supported by a weak USD and expectations of rate cuts.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD at: $3,350 – $3,365
🎯 TP: $3,300
❌ SL: $3,380
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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.
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.