📊 Market Overview:
On June 4, 2025, gold prices (XAU/USD) hovered around $3,370/oz after rebounding from the $3,333 level. However, selling pressure emerged as prices approached the strong resistance zone near $3,392–$3,400. Ongoing uncertainties regarding U.S.–China trade policies and expectations of a Federal Reserve rate cut continue to support safe-haven demand for gold.
📉 Technical Analysis:
• Key Resistance: $3,392 – $3,400
• Nearest Support: $3,333 – $3,320
• EMA 09: Price is currently above the 09 EMA, indicating a short-term uptrend.
• Candlestick Patterns / Volume / Momentum: The RSI on the H1 timeframe is at 59, suggesting bullish momentum remains but is approaching overbought territory.
📌 Outlook:
Gold may experience a short-term pullback if it fails to break above the $3,400 resistance level and profit-taking intensifies.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,392 – $3,400
o 🎯 TP: $3,372
o ❌ SL: $3,410
BUY XAU/USD at: $3,320 – $3,333
o 🎯 TP: $3,352
o ❌ SL: $3,310
On June 4, 2025, gold prices (XAU/USD) hovered around $3,370/oz after rebounding from the $3,333 level. However, selling pressure emerged as prices approached the strong resistance zone near $3,392–$3,400. Ongoing uncertainties regarding U.S.–China trade policies and expectations of a Federal Reserve rate cut continue to support safe-haven demand for gold.
📉 Technical Analysis:
• Key Resistance: $3,392 – $3,400
• Nearest Support: $3,333 – $3,320
• EMA 09: Price is currently above the 09 EMA, indicating a short-term uptrend.
• Candlestick Patterns / Volume / Momentum: The RSI on the H1 timeframe is at 59, suggesting bullish momentum remains but is approaching overbought territory.
📌 Outlook:
Gold may experience a short-term pullback if it fails to break above the $3,400 resistance level and profit-taking intensifies.
💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,392 – $3,400
o 🎯 TP: $3,372
o ❌ SL: $3,410
BUY XAU/USD at: $3,320 – $3,333
o 🎯 TP: $3,352
o ❌ SL: $3,310
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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.