Technical Analysis:
1. Trend:
• All three timeframes (H1, M15, M3) show a clear downtrend.
• Price has broken key support levels and continues to make lower highs and lower lows.
2. Indicators:
• MACD: Bearish momentum is strong across all timeframes.
• RSI: All readings are below 40, signaling bearish momentum with room for further downside.
• OBV: Declining, suggesting distribution and strong selling pressure.
3. Key Levels:
• Support: 2868
• Resistance: 2900 (recent swing high)
⸻
Fundamental Analysis:
• US Dollar Strength:
• Higher probability of hawkish Fed rhetoric or strong NFP data leading to more downside in gold.
• Rising Treasury yields could put further pressure on gold prices.
• Risk Sentiment:
• Stronger risk appetite (equities rallying) often leads to gold weakness.
⸻
Trade Setup (Short Position):
• Entry: 2885
• Stop Loss (SL): 2905 (Above resistance)
• Take Profit (TP): 2845 (Next major support)
• Risk-Reward Ratio (RRR): 2:1
XAUUSD
1. Trend:
• All three timeframes (H1, M15, M3) show a clear downtrend.
• Price has broken key support levels and continues to make lower highs and lower lows.
2. Indicators:
• MACD: Bearish momentum is strong across all timeframes.
• RSI: All readings are below 40, signaling bearish momentum with room for further downside.
• OBV: Declining, suggesting distribution and strong selling pressure.
3. Key Levels:
• Support: 2868
• Resistance: 2900 (recent swing high)
⸻
Fundamental Analysis:
• US Dollar Strength:
• Higher probability of hawkish Fed rhetoric or strong NFP data leading to more downside in gold.
• Rising Treasury yields could put further pressure on gold prices.
• Risk Sentiment:
• Stronger risk appetite (equities rallying) often leads to gold weakness.
⸻
Trade Setup (Short Position):
• Entry: 2885
• Stop Loss (SL): 2905 (Above resistance)
• Take Profit (TP): 2845 (Next major support)
• Risk-Reward Ratio (RRR): 2:1
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.