Last week’s analysis played out perfectly, securing over 2,500+ pips as forecasted. This move was largely driven by a blend of technical setups and fundamental catalysts, particularly the ongoing U.S. China tariff war which increased gold’s safe haven appeal.
FUNDAMENTAL BACKDROP:
China’s tariff hike to 125% on U.S. goods has rattled global markets, weakening the U.S. dollar and pushing gold higher.
Continued macroeconomic uncertainty, rising inflation fears, and tensions over U.S. trade policy all favor a bullish long-term outlook for gold.
Upcoming Events to Watch:
U.S. Retail Sales and CPI data this week.
Any further developments in the U.S. China trade standoff.
Fed speeches that could impact dollar strength.
Weekly Timeframe:
Gold retested a key weekly break of structure and closed with a bullish engulfing candle, suggesting continued upside.
Daily Timeframe:
Three of the most aggressive bullish candles we've seen this year showing strong institutional momentum.
4-Hour Channel Breakout:
A clear bullish breakout from a tight 4H channel, showing potential for continued expansion.
Leading in to next week if we start to see a pull back before a continued rise we can look to buy gold at 3190 or 3077.
KEY LEVELS TO WATCH THIS WEEK:
Buy Zones:
3109 a shallow pullback before continuation.
3077 – a key golden zone level backed by multiple confluences:
0.618 Fibonacci Retracement
4 hr and daily order block
Daily candle meet
Friday saw us find resistance from a trend line and pivot point.
Firstly marking golds current low to high we will find these to numbers as golds golden zone. Along with the 4 hr 50 ma
A deeper correction to 3077 would be a stronger buy. As you know I ve covered the importance of this number and gold. Linked here
But also 3177 offers also has a gap to be filled from Fridays open.
Using 3077 as confluence for the contiune of the rise of gold. Using fib extention tool we can target 100% extention of 3352.
Gold remains fundamentally strong and technically bullish. Watch for either a shallow or deeper pullback into 3190 or 3077 to buy into continuation. With proper confirmation, we could see another leg targeting 3352+.
FUNDAMENTAL BACKDROP:
China’s tariff hike to 125% on U.S. goods has rattled global markets, weakening the U.S. dollar and pushing gold higher.
Continued macroeconomic uncertainty, rising inflation fears, and tensions over U.S. trade policy all favor a bullish long-term outlook for gold.
Upcoming Events to Watch:
U.S. Retail Sales and CPI data this week.
Any further developments in the U.S. China trade standoff.
Fed speeches that could impact dollar strength.
Weekly Timeframe:
Gold retested a key weekly break of structure and closed with a bullish engulfing candle, suggesting continued upside.
Daily Timeframe:
Three of the most aggressive bullish candles we've seen this year showing strong institutional momentum.
4-Hour Channel Breakout:
A clear bullish breakout from a tight 4H channel, showing potential for continued expansion.
Leading in to next week if we start to see a pull back before a continued rise we can look to buy gold at 3190 or 3077.
KEY LEVELS TO WATCH THIS WEEK:
Buy Zones:
3109 a shallow pullback before continuation.
3077 – a key golden zone level backed by multiple confluences:
0.618 Fibonacci Retracement
4 hr and daily order block
Daily candle meet
Friday saw us find resistance from a trend line and pivot point.
Firstly marking golds current low to high we will find these to numbers as golds golden zone. Along with the 4 hr 50 ma
A deeper correction to 3077 would be a stronger buy. As you know I ve covered the importance of this number and gold. Linked here
But also 3177 offers also has a gap to be filled from Fridays open.
Using 3077 as confluence for the contiune of the rise of gold. Using fib extention tool we can target 100% extention of 3352.
Gold remains fundamentally strong and technically bullish. Watch for either a shallow or deeper pullback into 3190 or 3077 to buy into continuation. With proper confirmation, we could see another leg targeting 3352+.
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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.