Technical Analysis:
1. Trend Analysis:
• H1 Chart: The price was in an uptrend but has started to weaken. The MACD is losing bullish momentum, and RSI is below 50, indicating bearish pressure.
• M15 Chart: The price has recently made lower highs and lower lows, signaling a short-term downtrend. RSI is below 50, and MACD is negative.
• M3 Chart: The price is breaking support levels and showing increased selling momentum. The MACD is bearish, and RSI is below 50.
2. Key Levels:
• Support: $2895 (near recent lows)
• Resistance: $2910 (previous structure level)
3. Momentum & Indicators:
• RSI is below 50 on all timeframes, confirming bearish momentum.
• MACD is negative on M15 and M3, indicating continued selling pressure.
Fundamental Analysis:
• US Dollar Strength: If recent economic data favors the USD (strong labor market, inflation concerns), gold could continue lower.
• Risk Sentiment: If markets are stable or risk appetite increases, gold may decline further.
• Interest Rates: If the Fed maintains a hawkish stance, gold could weaken due to higher real yields.
⸻
Trade Setup:
• Entry: $2906 (near current price)
• Stop Loss (SL): $2913 (above resistance)
• Take Profit (TP): $2892 (previous support level)
• Risk-Reward Ratio (RRR): 1:2
Execution Plan:
• Enter short at $2906.
• Stop-loss above resistance to avoid being stopped out by minor pullbacks.
• Take profit at $2892, ensuring a 2:1 RRR.
XAUUSD
1. Trend Analysis:
• H1 Chart: The price was in an uptrend but has started to weaken. The MACD is losing bullish momentum, and RSI is below 50, indicating bearish pressure.
• M15 Chart: The price has recently made lower highs and lower lows, signaling a short-term downtrend. RSI is below 50, and MACD is negative.
• M3 Chart: The price is breaking support levels and showing increased selling momentum. The MACD is bearish, and RSI is below 50.
2. Key Levels:
• Support: $2895 (near recent lows)
• Resistance: $2910 (previous structure level)
3. Momentum & Indicators:
• RSI is below 50 on all timeframes, confirming bearish momentum.
• MACD is negative on M15 and M3, indicating continued selling pressure.
Fundamental Analysis:
• US Dollar Strength: If recent economic data favors the USD (strong labor market, inflation concerns), gold could continue lower.
• Risk Sentiment: If markets are stable or risk appetite increases, gold may decline further.
• Interest Rates: If the Fed maintains a hawkish stance, gold could weaken due to higher real yields.
⸻
Trade Setup:
• Entry: $2906 (near current price)
• Stop Loss (SL): $2913 (above resistance)
• Take Profit (TP): $2892 (previous support level)
• Risk-Reward Ratio (RRR): 1:2
Execution Plan:
• Enter short at $2906.
• Stop-loss above resistance to avoid being stopped out by minor pullbacks.
• Take profit at $2892, ensuring 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.