Gold (XAU/USD) Quick Technical & Fundamental Overview 📊📉
📌 Technical Highlights:
Round Top Pattern on the 4H chart signals a potential short-term bearish correction.
Resistance: $3,009 🔴 (Upper trendline & supply zone).
Support Levels:
$2,807 🟢 (Intermediate support).
$2,732 🔵 (Stronger liquidity zone).
$2,623 🔵 (Critical support area).
📈 Bullish Scenario: A bounce from $2,732-$2,623 could push gold back toward $3,009+.
📉 Bearish Scenario: A break below $2,623 may trigger a deeper decline toward $2,478.
🌎 Fundamental Highlights:
Fed's Policy & USD Strength 💵: Hawkish stance could pressure gold; rate cuts may fuel a rally.
Geopolitical Uncertainty 🛡️: Safe-haven demand may support prices.
Inflation & Central Banks 📊: Higher inflation & central bank purchases provide underlying strength.
📢 Trading Plan:
🔹 Bullish above $2,807, targeting $3,009+.
🔹 Bearish below $2,732, watching for dips toward $2,623-$2,478.
📌 Final Tip: Trade smart, manage risk, and follow price action confirmations! 🎯
📌 Technical Highlights:
Round Top Pattern on the 4H chart signals a potential short-term bearish correction.
Resistance: $3,009 🔴 (Upper trendline & supply zone).
Support Levels:
$2,807 🟢 (Intermediate support).
$2,732 🔵 (Stronger liquidity zone).
$2,623 🔵 (Critical support area).
📈 Bullish Scenario: A bounce from $2,732-$2,623 could push gold back toward $3,009+.
📉 Bearish Scenario: A break below $2,623 may trigger a deeper decline toward $2,478.
🌎 Fundamental Highlights:
Fed's Policy & USD Strength 💵: Hawkish stance could pressure gold; rate cuts may fuel a rally.
Geopolitical Uncertainty 🛡️: Safe-haven demand may support prices.
Inflation & Central Banks 📊: Higher inflation & central bank purchases provide underlying strength.
📢 Trading Plan:
🔹 Bullish above $2,807, targeting $3,009+.
🔹 Bearish below $2,732, watching for dips toward $2,623-$2,478.
📌 Final Tip: Trade smart, manage risk, and follow price action confirmations! 🎯
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.