Gold prices surged after the U.S. President announced a 50% tariff on EU imports, triggering safe-haven demand. However, analysts warn that this may be a short-term FOMO reaction rather than the start of a sustainable rally.
📰 Key Drivers:
- The tariff announcement spooked markets, boosting gold temporarily.
- The U.S. dollar dipped slightly, but bond yields remain high – a bearish sign for gold.
- No immediate EU retaliation weakens the long-term bullish case.
🔍 Technical Outlook:
- Resistance: $3350 – being tested but not yet clearly broken.
- Support: $3310 – may be revisited if upward momentum fades.
- EMA 09: Price remains above, but fading volume and long upper wick suggest weakening strength.
- Price Action: Sharp move looks emotion-driven; correction likely if no follow-up catalyst appears.
📉 Short-Term View:
Despite the surge, gold’s rise may be temporary. If no escalation occurs, a short-term pullback is likely as markets reassess the impact.
💡 Suggested Trade Setup (Short-Term Bearish):
SELL XAU/USD at 3345 – 3350
🎯 TP: 3330
❌ SL: 3355
BUY XAU/USD at 3310 – 3312
🎯 TP: 3325 – 3327
❌ SL: 3305
📰 Key Drivers:
- The tariff announcement spooked markets, boosting gold temporarily.
- The U.S. dollar dipped slightly, but bond yields remain high – a bearish sign for gold.
- No immediate EU retaliation weakens the long-term bullish case.
🔍 Technical Outlook:
- Resistance: $3350 – being tested but not yet clearly broken.
- Support: $3310 – may be revisited if upward momentum fades.
- EMA 09: Price remains above, but fading volume and long upper wick suggest weakening strength.
- Price Action: Sharp move looks emotion-driven; correction likely if no follow-up catalyst appears.
📉 Short-Term View:
Despite the surge, gold’s rise may be temporary. If no escalation occurs, a short-term pullback is likely as markets reassess the impact.
💡 Suggested Trade Setup (Short-Term Bearish):
SELL XAU/USD at 3345 – 3350
🎯 TP: 3330
❌ SL: 3355
BUY XAU/USD at 3310 – 3312
🎯 TP: 3325 – 3327
❌ SL: 3305
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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.