🔍 Technical Summary
1. Daily Chart:
• Trend: Strong long-term uptrend, recent retracement.
• MACD: Still above zero but showing a decline in momentum—suggesting a pullback within a bullish structure.
• RSI (14): Neutral at ~50, signaling consolidation, not overbought or oversold.
• Price: Holding above major moving average, bullish structure intact.
2. 15-Minute Chart:
• Trend: Consolidation after downtrend, forming higher lows.
• MACD: Positive crossover forming, upward momentum building.
• RSI: ~60, showing moderate bullish momentum.
• Price Action: Consolidation potentially forming a base at support near 3240.
3. 3-Minute Chart:
• Trend: Clear short-term bullish breakout structure.
• MACD: Bullish crossover active.
• RSI: Trending upward but not overbought (~60), indicating room for upside.
• Price Action: Small breakout underway above short-term resistance.
⸻
🧠 Fundamental Backdrop (Gold):
• Inflation & Rate Cut Expectations: Potential for Fed rate cuts continues to support gold.
• Geopolitical Risk: Any flare-ups (e.g., Middle East or economic instability) tend to favor gold.
• USD Weakness: If the USD weakens due to dovish Fed tone, it benefits XAUUSD.
⸻
🏁 Trade Plan
✅ Trade Idea: LONG XAUUSD
• Entry: 3250.00
• Enter slightly below current price for a minor pullback.
• Stop Loss (SL): 3225.00
• Below recent local support and consolidation zone.
• Take Profit (TP): 3300.00
• Just below recent swing highs for a conservative but strong target.
XAUUSD
1. Daily Chart:
• Trend: Strong long-term uptrend, recent retracement.
• MACD: Still above zero but showing a decline in momentum—suggesting a pullback within a bullish structure.
• RSI (14): Neutral at ~50, signaling consolidation, not overbought or oversold.
• Price: Holding above major moving average, bullish structure intact.
2. 15-Minute Chart:
• Trend: Consolidation after downtrend, forming higher lows.
• MACD: Positive crossover forming, upward momentum building.
• RSI: ~60, showing moderate bullish momentum.
• Price Action: Consolidation potentially forming a base at support near 3240.
3. 3-Minute Chart:
• Trend: Clear short-term bullish breakout structure.
• MACD: Bullish crossover active.
• RSI: Trending upward but not overbought (~60), indicating room for upside.
• Price Action: Small breakout underway above short-term resistance.
⸻
🧠 Fundamental Backdrop (Gold):
• Inflation & Rate Cut Expectations: Potential for Fed rate cuts continues to support gold.
• Geopolitical Risk: Any flare-ups (e.g., Middle East or economic instability) tend to favor gold.
• USD Weakness: If the USD weakens due to dovish Fed tone, it benefits XAUUSD.
⸻
🏁 Trade Plan
✅ Trade Idea: LONG XAUUSD
• Entry: 3250.00
• Enter slightly below current price for a minor pullback.
• Stop Loss (SL): 3225.00
• Below recent local support and consolidation zone.
• Take Profit (TP): 3300.00
• Just below recent swing highs for a conservative but strong target.
XAUUSD Trade closed: stop reached
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.