📊 Market Overview:
Gold is currently trading around $3,314/oz, slightly down after testing resistance near $3,350. The market faces pressure from a strengthening USD and inflation concerns. Investors are closely monitoring signals from the Federal Reserve regarding future monetary policy.
📉 Technical Analysis:
• Key Resistance: $3,350
• Nearest Support: $3,200
• EMA: Current price is near the 50-day EMA, indicating a potential trend reversal if resistance holds.
📌 Outlook:
Gold may decline in the short term if it fails to break above the $3,350 resistance and the USD continues to strengthen.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3330
o 🎯 TP: $3,310
o ❌ SL: $3,340
BUY XAU/USD at: $3,230
o 🎯 TP: $3,250
o ❌ SL: $3,220
Gold is currently trading around $3,314/oz, slightly down after testing resistance near $3,350. The market faces pressure from a strengthening USD and inflation concerns. Investors are closely monitoring signals from the Federal Reserve regarding future monetary policy.
📉 Technical Analysis:
• Key Resistance: $3,350
• Nearest Support: $3,200
• EMA: Current price is near the 50-day EMA, indicating a potential trend reversal if resistance holds.
📌 Outlook:
Gold may decline in the short term if it fails to break above the $3,350 resistance and the USD continues to strengthen.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3330
o 🎯 TP: $3,310
o ❌ SL: $3,340
BUY XAU/USD at: $3,230
o 🎯 TP: $3,250
o ❌ SL: $3,220
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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.