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Xauusdtrend

Gold surges, what is the subsequent trend?Weekly chart analysis: From the weekly chart, gold has been pushed upward for five waves from the starting position of 1614. The current market is in the extended wave of wave 3. Gold has adjusted downward from the high point of 3500. The current market is divided into two situations. In the first case, assuming that the high point of 3500 has completed the 3rd wave, then 3500 will adjust downward for 4 waves. The three-wave ABC structure within the 4th wave regards 3500-3120 as wave A, 3120 upward as wave B, and there is another wave C decline after wave B to complete the 4th wave adjustment, and then the 5th wave will rise. Therefore, after the market rises, pay attention to the C wave decline at any time. In the second case, assuming that the 3rd wave has not been completed yet, 3500 is still in the internal adjustment of the extended wave of wave 3. At present, the three-wave ABC adjustment of 3500-3120 has ended, and a new round of upward rise from 3120 may complete the last wave of the 3rd wave. Therefore, after the market rises above 3500, it will face the 4th wave decline at any time. Hourly chart analysis: In the 1-hour chart, no matter how the market operates, the current market trend is in a state of shock. Affected by the increased risk aversion due to the weekend news, the market rose sharply after opening on Monday. So what will the trend be after the surge? I think that after the rise, try not to chase the rise, but look for high positions to short, and wait for the market to adjust downward before going long. Operation analysis: Currently, the upper resistance is 3385-3405, and the lower support is 3350-3330. Short-term operation suggestions: short at the high point area of ​​3385-3395, stop loss at 3410, profit range 3360-3350, and continue to look down at 3330-3320 if it breaks. It is recommended to continue to look above 3400 if 3350 is not broken.
OANDA:XAUUSD
by Quaid-1
Gold is rising strongly, waiting for a breakthrough.Gold prices soared after the Asian market opened, reaching an intraday high near 3363. However, today's market is also affected by many black swan events. Event summary: On the eve of the ceasefire negotiation between Russia and Ukraine, Ukraine attacked a Russian military base with a drone; the United States said it was unaware of the incident. Trump made a statement saying that China violated the relevant provisions on trade tariffs, and then the US Treasury Secretary said: The United States will never default. This news has worsened Sino-US trade relations. Due to the sudden black swan event, the sentiment for gold as a safe-haven asset has rapidly heated up, and the price of gold has skyrocketed in the Asian market. At present, due to the impact of international events, the price of gold has calmed down after the correction, and is currently consolidating around 3355. The 1-hour chart shows that the 5-day MA moving average is currently flat, but the 10-day and 30-day MA moving averages have turned sharply and are on an upward trend, so I think that the current rise in gold has not yet reached its peak. Market analysis: The support level in the Asian morning session is around 3300, and the gold price has successfully stood above 3330, and the lower support has also moved up to around 3330; the intraday gold price has a very small retracement, and it is still breaking through the upper side. It is currently trying to break through the cycle suppression level of 3365. After a strong breakthrough, it will reach the cycle high point of 3370. If it fails to break through strongly, the price will fall below 3365 and may touch the current support level of 3330. Operation strategy: Buy near 3345, stop loss 3335, target range 3360-3370.
OANDA:XAUUSDLong
by Quaid-1
1
Trade conflicts are re-emerging, will gold rise?Information summary: Gold prices rose slightly in early Asian trading on Monday, affected by the long-term uncertainty of tariffs and international geopolitical conflicts, which increased the demand for safe-haven assets. Trump made a statement earlier that China had violated the Sino-US trade negotiation regulations in a big way; then the US Treasury Secretary assured that the United States would never default. This has once again led to tensions in Sino-US trade relations, and investors are also cautious about this news. This news has undoubtedly disrupted the international market and supported the rise in gold prices. Traders need to pay attention to the May ISM manufacturing report to be released by the United States today, which may affect the new trend of gold. Trading analysis: I think the repeated emotions of the United States on tariffs will cause gold prices to rebound after a downward adjustment, and then fall slightly. If gold cannot break through the upward 3350 cycle pressure level strongly and stabilize above this position. Then the price will fall back below this position. Operation strategy: Long at 3340, stop loss at 3330, take profit at 3350. Short at 3350, stop loss at 3365, profit range is around the early support level of 3300-3390. If you want to trade steadily, you can continue to wait and see for some time, because there are too many black swan events in the Asian market today, and the market is full of uncertainty.
OANDA:XAUUSD
by Quaid-1
The international situation is turbulent, how is the trend of goInformation summary: On June 1, Russia and Ukraine continued to clash. Ukrainian drones attacked several Russian military airports, including military bases in eastern Siberia, more than 40 aircraft were damaged, and the loss was about 2 billion US dollars. This was the first time that a military base in Siberia was attacked by a drone. Murmansk Oblast was also attacked by a drone on the same day. However, on the same day, Russia and Ukraine planned to hold a second round of ceasefire negotiations in Istanbul on June 2. The United States said that it was not informed of the Ukrainian attack in advance. Russia and the US Foreign Minister discussed the negotiation plan by phone. The Hungarian Prime Minister revealed that the mediation in 2024 was unsuccessful, and the two sides had obvious differences on the timing of the ceasefire. The current situation is complicated, the prospects for peace talks are unclear, and market risk aversion and economic data (this week's employment report, central bank interest rate decision, etc.) have become new focuses. Gold trend analysis: From the daily chart, the current daily support position is around 3280. This position is the key to the gold band trend. Since the price has broken upward recently, it has stepped back many times and finally closed above the daily support, so the position of the daily support is still the key. Before falling below this support level, the price will most likely maintain a range of 3320-3280 US dollars. Operation strategy: Buy near 3280, stop loss 3270, profit position 3320.
OANDA:XAUUSD
by Quaid-1
The dollar is strong, will gold break through the consolidation?At the beginning of this week, the US dollar index fell to a one-month low due to Trump's sudden change in the direction of the EU policy. Subsequently, due to the contest between Trump and the US Trade Court ruling, the prices of gold and the US dollar fluctuated greatly. I think the US dollar will start to rise next week with the help of non-farm payrolls data. I am afraid that a new round of price fluctuations is coming. If the US dollar is to have a new upward trend in June, gold will also be affected. Judging from the current daily line of gold, the overall trend is also to be adjusted downward. The high point of gold in May was 3438, and the low point was 3120. I also drew the Fibonacci dividing line in the figure. The most critical position is 3317 at the 0.382 position and 3280 at the 0.5 position. Gold is still maintaining a consolidation of 3317-3280. Although there have been breakthroughs above and below, they are all within the daily range. Next week, as long as gold can close below 3280 on the daily line, it will start a correction trend step by step. The first target below is around 3250, and the second is 3180-3200. As long as the daily line of gold can close below 3180, then we will usher in a big bearish trend at the daily level. On the contrary, the daily line of gold cannot close above 3317 again. In a better situation, it may touch around 3340 again and then retreat again. The bad result is that it directly breaks through the pressure level and stands above the 3340 trend line. If this happens, the price of gold may move towards a new high.
OANDA:XAUUSD
by Quaid-1
Technical Analysis → Gold will remain stableThroughout May, the news backdrop, including international trade tariffs and geopolitical turmoil, led to a technical peak of around $3,430 and a low near $3,130 in gold. As of now, the price per ounce is stable at around $3,300, roughly the same level as at the beginning of the month. This shows that supply and demand forces are basically balanced, and prices are maintained between these two extremes. Gold technicals further confirm this and highlight the importance of the $3,300 level. Bearish perspective: The A→B→C→D→E sequence forms a peak high and a cycle low, which is a clear downtrend signal. The trajectory is marked in red, and the upper line constitutes resistance. Bullish perspective: Since the beginning of 2025, the price of gold has been in an upward trend, represented by the blue channel, and its lower boundary constitutes key support (marked with arrows). It is worth noting that these support and resistance lines are converging, forming a narrowing triangle. This shows that supply and demand are balancing and the market has reached a consensus around the $3,300 level, which is exactly the central axis of the triangle. Based on this, we can reasonably assume that the technical side of gold in June may continue to fluctuate within this triangle unless a special event occurs that causes a significant break in the current balance.
OANDA:XAUUSD
by Quaid-1
Gold price rebounded. Strategy is coming.Gold rose yesterday under the stimulus of risk aversion; gold did not continue the upward trend today, which means that the risk aversion sentiment of gold has been digested. The 4-hour moving average of gold formed a dead cross, and MACD also formed a dead cross. Then gold is likely to maintain the morning support position near 3290 for oscillation. I think we can continue to short after gold rebounds. After the opening of the US market, the rise of gold has been under pressure at the 3310 line and cannot break through. Gold rebounded under pressure at 3310 and continued to short on rallies. The market situation is changing all the time. We cannot always use the same trading strategy. If the price fails to rise, we will implement a short strategy; in line with the changes in the market, we can make profits faster. Operation strategy: Short near 3305, stop loss 3315, profit range 3270-3260.
OANDA:XAUUSDShort
by Quaid-1
Data is out. Gold is fluctuating.Information summary: On Wednesday, US time, the Trade Court ordered an immediate halt to tariffs; the next day, the Federal Court of Appeals immediately resumed the policy. At the same time, the Trade Court was required to respond by June 5, and the government by June 9. Tariff policies are back and forth, and it is difficult to figure out. In other words, don't expect the US government to come up with any good news. Today, the annual rate of the US core PCE price index in April was 2.6% in the previous value and 2.5% in the expected value. The expectation seen at the beginning of the week was 2.6%. Now the expectation is directly lowered. Is it to leave room for this announcement? If the increase is not higher than the previous value, it is not a significant increase, but it leaves room for interest rate cuts. For gold, the increase is not higher than the previous value, and the short position is limited. This mediocre data can directly provide a basis for speculation on the current economic situation in the United States. After yesterday's strong rise, with a very long lower shadow left on the middle track of the Bollinger Band, after stabilizing the middle track, the fast and slow lines further converged and flattened, indicating that the main funds are also hesitating. From this perspective, today's market may continue to fluctuate within the middle track. At the same time, the closing line is also the most critical, which is around 3285-90 near the middle track. Operation strategy: Today's trading needs to pay attention to the cycle suppression position of 3315-3330 on the upper side, and the cycle support level of 3385-3380 on the lower side. This range can be maintained for scalping trading. If the gold price breaks through strongly upward or downward, the new trend will be realized in a very short time, so traders need to make profits and stop losses in time.
OANDA:XAUUSD
by Quaid-1
XAU/USD Chart Analysis: Gold Price Stabilises Around $3,300XAU/USD Chart Analysis: Gold Price Stabilises Around $3,300 Throughout May, a turbulent news backdrop — involving both international trade tariffs and armed conflicts — led to the formation of a peak around $3,430 and a low near $3,130 on the XAU/USD chart. As of today, the price per ounce stands around $3,300 — roughly the same level as at the beginning of the month. This suggests that supply and demand forces are largely balanced, keeping the price contained between these extremes. The XAU/USD chart provides further confirmation, emphasising the significance of the $3,300 level. Technical Analysis of the XAU/USD Chart From a bearish perspective: The A→B→C→D→E sequence forms lower highs and lower lows — a clear sign of a downtrend. This trajectory is marked in red, with the upper line acting as resistance. From a bullish perspective: Since the beginning of 2025, the gold price has been moving in an uptrend,indicated by a blue channel, with its lower boundary serving as key support (highlighted with arrows). Notably, these support and resistance lines are converging, forming a narrowing triangle — an indication that supply and demand are balancing, finding consensus around the $3,300 level, where the axis of the triangle lies. Given this, it is reasonable to assume that in June, the gold price on the XAU/USD chart may continue to fluctuate within this triangle — unless an extraordinary event causes a significant shift in the current balance. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XAUUSD
by FXOpen
1
Monthly closing bet. Opening a falling gap?Information summary: At 8:30 a.m. on Friday, U.S. time, the U.S. Bureau of Economic Analysis will release the personal consumption expenditure (PCE) price index for April. As the most favored inflation indicator of the Federal Reserve, the year-on-year change in the core PCE price index has a greater impact on policymakers. If the data is released, the core PCE price index in April rises faster than expected, and the direct reaction of the market may lead investors to prefer the policy rate to remain unchanged in July. In this case, the U.S. dollar may gather strength, causing gold prices to fall before the weekend. Market analysis: Gold prices rose as high as 3322 in the early Asian session, and then fell without a dollar line. As of now, the lowest price has retreated to the 3290 U.S. dollar line. At present, it is not ruled out that gold will fluctuate widely; but the trend view is still biased towards the short side. The strength of the current rebound still depends on the strength of the European session. In the European session, the operation will focus on the vicinity of 3310 U.S. dollars first, and the pressure will still look down to 3280 U.S. dollars. However, if the European session falls directly below $3,285, there is still room for decline, and the support is around 3,250. In addition, today is the last day of the monthly line closing, and the range of fluctuations has not yet left, so you can continue the short strategy. Operation strategy: Short around $3,310, stop loss at $3,320, and profit range around $3,250.
OANDA:XAUUSDShort
by Quaid-1
Tariff policy reversed again? Be careful on Friday.Yesterday, Trump and the US Trade Court ruled that the US International Trade Court had stopped the tariff policy. Gold once fell to a low of 3245, while the US dollar rushed all the way to a high of 100.5. Then it reversed, and gold began to rectify and rise. As of now, it has once touched a high of 3330, close to a rebound of $85. Today, it reversed again. The US Court of Appeals allowed Trump's tariff policy to continue to take effect temporarily. And impose tariffs on most areas of the global economy, including allowing tariffs of up to 15% within 150 days to address trade imbalances with other countries. Compared with the tariff policy that was deemed illegal this week, this step is more legally defensible. Looking at the current gold, it is likely that gold will fall sharply today. After gold fell yesterday, everyone wanted to short gold, but gold rebounded all the way. So, today, Friday, is an opportunity for short-selling strategies. The short positions have been eliminated, so gold has every reason to fall, and it will fall sharply. Once it falls below 3280 in the downward trend, it will test the low point of yesterday near 3250. If it breaks through 3250 again, it will go directly to the low point near 3200. The current short-selling strategy has little to do with technical analysis, it is completely a test of human nature.
OANDA:XAUUSDShort
by Quaid-1
XAU/USD Awaits PCE Catalyst – Rejection or Breakout?Gold prices are trading around $3,297 after rejecting the $3,324 resistance zone. The market is currently showing signs of exhaustion near a minor resistance, and price action suggests a potential short-term pullback. Attention now shifts to today's U.S. Core PCE data, a key inflation metric for the Fed, which may dictate near-term direction and shape the monthly close. OANDA:XAUUSD TVC:GOLD Gold tested the $3,324 resistance area but failed to break higher, forming a lower high. A potential bearish setup is developing as price reacts to minor resistance around $3,310. If bears regain control, a drop toward the key support level at $3,240 is likely. A break below this level could open the door to further downside in the upcoming sessions. Conversely, if bulls manage to reclaim $3,324 and establish a strong daily close above, we could see a retest of $3,350 and higher. Key Event Today: At 8:30 PM GMT+8, the U.S. will release April's Core PCE Price Index – the Fed’s preferred inflation gauge: MoM: Expected at 0.1% YoY: Expected at 2.5% (Previous 2.6%) A softer-than-expected reading could increase rate cut expectations and offer bullish momentum to gold. Stronger data, however, may renew USD strength and pressure XAU/USD lower. Resistance: $3,310 , $3,324 Support: $3,240 , $3,207
FOREXCOM:XAUUSDShort
by ATFX_Global
Gold rebounded after hitting the bottom. Don't shortOn Wednesday, the New York International Trade Court of the United States stopped Trump's planned tariff policy; it ruled that Trump's act of imposing comprehensive tariffs on countries that export more to the United States than imports without the authorization of Congress was an overstep. This means that most of Trump's tariffs will be suspended. After the news came out, gold fell rapidly, hitting a low of $3,245. It has now adjusted back and maintained around 3,270 for consolidation. From the current point of view, most traders with short strategies have taken profits around 3,250. From the hourly chart, gold has started to pull back from $3,265 this week, and as of the current low of $3,245, it is a three-wave downward trend. The first wave fell to $3,225, and then rebounded to $3,350. The second wave fell from $3350 to $3285, and then rebounded to $3325. The third wave of decline has been completed. According to the early decline and then the rise, the current rebound from $3245 is likely to test around $3300. However, considering that $3285 is the previous low point, $3285 is also the upward pressure position this time. Therefore, we should pay close attention to the pressure range of $3285-3295. If it can stabilize below $3295, then we can rely on the $3295-3285 range for short operations. On the contrary, if the rebound is stabilized above 3300, it is necessary to stop loss in time.
OANDA:XAUUSD
by Quaid-1
Gold fluctuates upward. Waiting for a breakthrough?Since the trend of today's Asian session is a drop before an increase, and we are currently holding long orders near 3292, the trend is still looking upward. It is about to reach the resistance position near 3325 that I predicted. This is a strong and weak dividing point in the short term. Whether it can continue to break through and move upward depends on the situation in the European session. If you hold a long position, you can continue to hold it and wait for the price to break through. For those who have not entered the market yet, you can continue to wait and see if the upper resistance level can break through strongly. The market changes drastically. I hope everyone will make a profit today.
OANDA:XAUUSDLong
by Quaid-1
Mr. President repeatedly wavered, new trend?Last Friday, Trump threatened to escalate the trade war again, suggesting that a 50% tariff be imposed on the EU from June 1. The US dollar index continued to decline during the day, falling to a low of around 99. Due to increased risk aversion demand, spot gold once rose by more than 2%, reaching a daily high of $3,365. At the opening of this Monday, Trump issued a statement to postpone the imposition of tariffs on the EU, extending the deadline for the EU to face 50% tariffs to July 9. Gold was also affected, and it has continued to rectify its downward trend this week. Yesterday, the lowest point was near 3285. From the current daily chart, the trend support line here on the daily chart has been broken. So it is very likely that there will be a short-term correction trend on the daily line next. Once the lower 3250-3260 is broken, it will directly test the lower trend line of the daily line at 3160-3170. From the 4-hour chart: We can reverse the market. If we take the previous daily low of 3160 as the target, we can see that 3285 is exactly where it stopped and stabilized yesterday. So, it is normal for 3285 to rebound and consolidate. We can also see that the range of the 4-hour chart has been broken, so 3285 may fall directly and break through next. Then the next position to pay attention to is 3260-50. If it falls below this range, we can directly see the trend line support position of 3160-70 in this round of daily lines. Trading is risky, and I hope my analysis can help traders reduce the risk of trading.
OANDA:XAUUSDShort
by Quaid-1
1
Will the gold market usher in a new trend?The Trump administration postponed the imposition of a 50% tariff on the European Union and extended the implementation date to July 9. This unexpected decision became the fuse for the violent market fluctuations. The European Union responded positively, and the US-EU trade negotiations ushered in a buffer period, but the global market has been affected, and the gold market has fallen into a dilemma of long and short interweaving. On Tuesday, the overall gold price showed a downward trend. The price rose to $3,349.85 on the day, and the lowest price reached $3,285.21, closing at $3,300.4. After the opening of the US market, the price fluctuated upward in the short term, and the price ended in a big negative on the day. It is not suitable to be bearish at present before the price falls below the daily support. From the daily level, the current daily level support is around $3,275, and the price may fluctuate upward above this position. At the same time, from the four-hour level, yesterday's price fell below the four-hour support of $3,320, and then continued to fall below the important support position of $3,300 on the daily line; and the short-term pressure is relatively large, so it is necessary to pay attention to the 3275-3320 range for the time being; this fluctuation range is also the middle area between the 5-day MA moving average and the 10MA moving average, and the price will continue after breaking through the range. Operation strategy: Scalping transactions are carried out in the fluctuation range of $3,290-3,315. Quaid reminds all traders: You need to always pay attention to the direction of price trends, take profits in time, and avoid losses caused by unexpected events affecting price trends.
OANDA:XAUUSD
by Quaid-1
Gold Falls as Expected — Bearish Structure HoldsAfter today’s market open, gold entered the 3346–3358 resistance zone, but failed to maintain upward momentum. As expected from yesterday’s analysis, the bearish pattern remained intact, and price turned lower. 🔔 Congrats to those who followed the plan — another profitable move locked in! 🔍 Current Market Outlook: ✅ Trend remains bearish, technicals do not currently support a bullish case; ✅ Key support zones: First support: near 3306 Major zone: 3290–3280 Extended support: around 3260 📌 We’ll continue to focus on short setups as long as the bearish structure holds. ⚠️ Key Reminders: The market won’t fall in a straight line — watch for temporary rebounds; During rebounds, pay attention to support/resistance flips; Be ready to adjust your strategy if the trend shifts! 📍 Important resistance levels: 3346–3338 3324–3318 (This has been highlighted multiple times — don’t ignore it.) ✅ Stick to the plan, adapt to the trend, and manage risk like a pro — that’s the key to consistent profits.
OANDA:XAUUSDShort
by Arthur3017
Gold retracement adjustment. Pay attention to the timing.Gold prices continued to fall today, hitting a low of $3,285, and are currently recovering briefly. I think there is room for profit in the long strategy, but the hourly line is only a single positive rise. Overall, the probability of volatility correction is still high. Compared with the short-term resistance position of 3,320, the correction is still within the normal range. From the 4-hour chart, the 60-day MA of $3,320 has a certain suppression position on the upward trend, followed by the 90-day MA of $3,285, which provides strong short-term support. Today's price drop also failed to break through this support position; so this week will continue to fluctuate sharply, and the large fluctuations up and down are to accumulate momentum for the next wave of rise. The basic operation strategy of the bulls has not changed, but just a halftime break. Operation strategy: Buy near $3,295, stop loss at $3,285, and the profit range is $3,320-3,330.
OANDA:XAUUSDLong
by Quaid-1
1
Economic data released. Start of a new trend?The international gold market suffered a sharp sell-off, and the spot gold price once fell below the key psychological mark of $3,300/ounce, reaching a low of $3,392.59, as the US dollar index rebounded from a low of more than a month and concerns about the international trade situation cooled down. The gold price is currently in a short-term recovery phase, and the downside risk is temporarily lifted. In the long run, the expansion of the US fiscal deficit may support the gold price; but in the short term, according to the latest data released by the United States, it is conducive to the long operation of gold, and the gold price will rise briefly. Gold is strong in the short term, but traders need to take profits in time to avoid unexpected events that cause trend changes. Overall, the short-term trend of gold prices is still subject to the US dollar, interest rate expectations and economic data, and the competition for the $3,300 mark will become the key. The US economic data is within the expected range, and gold has a short upward trend. Operation strategy: Buy near $3290, stop loss at $3280, profit range at $3320-3330.
OANDA:XAUUSDLong
by Quaid-1
1
Gold price pullback. How to trade?Information summary: On Monday, due to Trump's policy changes, high tariffs on the EU were suspended. The market's risk aversion sentiment has declined, and spot gold fell at the opening, but recovered some of its losses in the US market, maintaining a consolidation range of 3320-3355. When the US market opens, there must be large fluctuations. Gold recovered all the gains on Friday due to the increase in tariffs on the EU on Monday. Then, when the US market opens, it is very likely to rise sharply, and also recover the losses on Friday. And from the current gold 1-hour chart: The current trend line of gold has fallen below, and the early trading has also completed the retracement. Therefore, gold may go down next. There is a high probability that it will test the bottom support position of 3310-3300. From the daily chart: You can see that the daily chart is currently an important support position near 3300. Once it falls below 3300, it can be officially confirmed that the correction trend is coming. And the trend after the US market opens is critical. Operation strategy: Short immediately, stop loss 3335, profit range 3310-3300.
OANDA:XAUUSDShort
by Quaid-1
1
Gold continues to fluctuate. Interval analysis.Market analysis: Gold opened slightly lower on Monday and fell to around 3331 before rebounding. After being blocked near 3357, it began to fluctuate and fall. The lowest point in the European session fell to around 3324, and then the market stopped falling and fluctuated and rose. The US session continued to rise, and the daily line closed with a small negative line with a lower shadow. Gold showed a big positive trend last Friday, and closed negative on Monday for adjustment. The current 5-day moving average and the 10-day moving average form a golden cross and continue upward. This moving average pattern shows a certain bullish momentum. In the short term, focus on the support of the 5-day moving average, which is currently around 3330. When the price is above this moving average, the market fluctuates mainly on the strong side. The upper resistance level first looks at around 3365, which is the high point of last Friday. Before the price does not break through this resistance level strongly, the volatile market will remain. On the whole, today's focus will be on the support of the 3330-3326 area below, and the focus will be on the resistance near 3365 above. Operation strategy: Short at rebound near 3365, stop loss at 3375, profit range 3345-3330 Long at retracement near 3326, stop loss at 3316, profit range 3350-3370
OANDA:XAUUSD
by Quaid-1
Gold plunges. Downside meets?Spot gold fluctuates at high levels during the Asian session and is currently trading around $3,330. I think spot gold is expected to fall below the immediate support level of $3,330 per ounce and fall towards $3,284. Completion occurs near the key resistance level of $3,366, which is reinforced by similar resistance established by the descending trend line. Working together with these obstacles is another obstacle, namely $3,355, which is the retracement level of the downtrend from $3,501 to $3,120. The bearish divergence of the hourly RSI confirms that the rally has been exhausted and a sharp correction is imminent. Based on the changes in the Asian market today, an analysis was conducted. I hope my analysis can help you turn losses into profits in the trading market. Operation strategy: Short at $3,340, stop loss at $3,355, and profit range of $3,310-3,300.
OANDA:XAUUSDShort
by Quaid-1
Trump's tariff measures trigger market shocks 📌 Driving events Last Friday, as Trump threatened to raise tariffs on the European Union to 50%, and also pointed the finger at smartphone manufacturers such as Apple and Samsung, the market's risk aversion sentiment suddenly heated up, and spot gold closed up nearly 2% on the day. On Sunday local time, US President Trump announced after a call with European Commission President von der Leyen that he would extend the deadline for the European Union to face 50% tariffs to July 9. Trump told reporters on his way back to Washington on Sunday: "We had a very pleasant call, and I agree to postpone the deadline." Bloomberg analysis said that there are signs that US President Trump may relax his radical stance on EU trade, which will affect gold's safe-haven status. At the geopolitical level, the conflict between Israel and Iran is imminent. The Israeli army's shooting of a diplomatic delegation has triggered international condemnation. Netanyahu has maintained a tough stance in the Israeli-Kazakh conflict; Trump's mediation of a ceasefire between Russia and Ukraine has been frustrated. The Wall Street Journal revealed that when he spoke with the European side, he said that Putin believed that the Russian army was "winning", which contradicted his public statement. This week, the market focus shifted to the Fed's policy minutes, the Bank of Japan's rate hike expectations, European and American economic data, and OPEC+'s production increase plan. The interweaving of trade frictions, debt risks and geopolitical conflicts has kept the uncertainty of the global pattern high. 📊Comment Analysis The first support level for gold prices may be in the range of $3290-3300/ounce. If it falls below the above support, the next support for gold prices will be $3250/ounce and $3200/ounce (50-day moving average). On the upside, the first resistance for gold prices is $3370/ounce. If this obstacle is overcome, the next resistance for gold prices will be $3430/ounce and $3500/ounce (historical high). Labaron will digest a series of economic data to be released by the United States this week, such as durable goods and home sales, as well as the consumer confidence index. The U.S. stock market will be closed on Monday due to the Memorial Day holiday. 💰Strategy Package ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone : 3388- 3390 SL 3395 TP1: $3376 TP2: $3363 TP3: $3350 🔥BUY GOLD zone: $3301- $3299 SL $3294 TP1: $3312 TP2: $3325 TP3: $3338 ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds - Profit is 4-7% of the capital account - Stop loss is 1-3% of the capital account
OANDA:XAUUSDLong
by Labaron
1