Trade Idea: XAUUSD Long (BUY LIMIT)
Technical Analysis
1. Daily Chart (Macro View):
• Trend: Strong bullish trend, price at 2933.30, nearing overbought RSI (69.87) but not extreme.
• MACD: Strong bullish momentum (MACD 54.58 > Signal 56.73), indicating sustained buying pressure.
• Resistance Level: Around 2945, with room to test or break.
• Support Level: Around 2813.30.
2. 15-Min Chart (Mid-Term View):
• Trend: Pullback within the bullish structure.
• MACD: Flatlining around 0, signaling consolidation.
• RSI: 42.55, suggesting room for upward movement.
• Key Zone: Price hovering around 2933, consolidating before potential breakout.
3. 3-Min Chart (Entry Timing):
• Trend: Recent short-term pullback.
• MACD: Bearish crossover but flattening out.
• RSI: 32.63, nearing oversold levels, indicating possible short-term bounce.
Fundamental Analysis
• Gold Bullish Sentiment Drivers:
• Geopolitical Risks & Inflation Concerns continue to drive safe-haven demand.
• Dovish Fed Expectations: Market anticipating potential rate cuts later this year, weakening USD and supporting gold prices.
Given the strong bullish macro trend and short-term pullback nearing oversold levels on lower timeframes, a long position offers the highest probability setup.
• Entry: 2928.00 (slight pullback to minor support & oversold RSI on M3)
• Stop Loss (SL): 2918.00 (below recent lows & strong support zone)
• Take Profit (TP): 2948.00 (breakout above resistance and continuation of bullish trend)
This offers a 2:1 RRR.
XAUUSD
1. Daily Chart (Macro View):
• Trend: Strong bullish trend, price at 2933.30, nearing overbought RSI (69.87) but not extreme.
• MACD: Strong bullish momentum (MACD 54.58 > Signal 56.73), indicating sustained buying pressure.
• Resistance Level: Around 2945, with room to test or break.
• Support Level: Around 2813.30.
2. 15-Min Chart (Mid-Term View):
• Trend: Pullback within the bullish structure.
• MACD: Flatlining around 0, signaling consolidation.
• RSI: 42.55, suggesting room for upward movement.
• Key Zone: Price hovering around 2933, consolidating before potential breakout.
3. 3-Min Chart (Entry Timing):
• Trend: Recent short-term pullback.
• MACD: Bearish crossover but flattening out.
• RSI: 32.63, nearing oversold levels, indicating possible short-term bounce.
Fundamental Analysis
• Gold Bullish Sentiment Drivers:
• Geopolitical Risks & Inflation Concerns continue to drive safe-haven demand.
• Dovish Fed Expectations: Market anticipating potential rate cuts later this year, weakening USD and supporting gold prices.
Given the strong bullish macro trend and short-term pullback nearing oversold levels on lower timeframes, a long position offers the highest probability setup.
• Entry: 2928.00 (slight pullback to minor support & oversold RSI on M3)
• Stop Loss (SL): 2918.00 (below recent lows & strong support zone)
• Take Profit (TP): 2948.00 (breakout above resistance and continuation of bullish trend)
This offers a 2:1 RRR.
XAUUSD 
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.