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Bren Crude Oil important support at 6720Key Support and Resistance Levels Resistance Level 1: 7060 Resistance Level 2: 7170 Resistance Level 3: 7280 Support Level 1: 6720 Support Level 2: 6610 Support Level 3: 6520 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
TRADENATION:BRENT
by TradeNation
WTI Crude Oil lower ahead of US weekly inventoriesGeopolitics: The de-escalation between Israel and Iran removes near-term supply shock risks, reducing bullish pressure on oil. Monetary Policy: Powell’s hawkish tone implies tighter financial conditions for longer, which can dampen global growth expectations and, in turn, oil demand. Overall Bias for Traders: Near-term pullback in WTI is possible if geopolitical risk continues to fade. Upside may be capped unless new supply disruptions emerge or economic data justifies looser Fed policy. Watch for inventory data and fresh comments from Fed officials or Middle East developments as catalysts for direction. Trading Outlook: Neutral-to-Bearish near-term bias unless fresh geopolitical tension reignites risk premium. Key Support and Resistance Levels Resistance Level 1: 6925 Resistance Level 2: 7080 Resistance Level 3: 7230 Support Level 1: 6460 Support Level 2: 6300 Support Level 3: 6100 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
TRADENATION:WTI
by TradeNation
Gold Trading Strategy June 25The Daily Candle shows a strong selling force breaking out of the 3-day accumulation zone. Gold touches the support zone of 3296 and bounces back as analyzed yesterday. Today, it is difficult for the bullish force to return, there is a possibility of an increase in the Asian session and the European session, and the US session will return with the Selling force. The recovery from 3296 towards 3342, some selling force may appear around 3342, forming a strong bearish structure. The bearish wave structure will weaken if it breaks 3342. The 3363 area still has a reaction but the bearish wave structure is no longer strong. The market closed above 3363 confirming the downtrend break and heading towards the resistance zone of 3388. The bottom support of 3302 will help to temporarily stop the price decline before heading towards the target of 3278. Support: 3321-3302-3278 Resistance: 3342-3363-3388 Break out: 3342-3322 Recommended trading signal BUY GOLD 3302-3300 SL 3297 SELL GOLD 3363-3365 SL 3369
OANDA:XAUUSD
by VHT_Trader
Can Gold Regain Ground as Risk Factors Persist? Gold is holding steady and posting a modest rebound today after notable losses yesterday, though it continues to struggle to reclaim the $3,330 per ounce level. The precious metal’s ability to resume gains stems from continued market uncertainty surrounding both geopolitical and trade-related risks, which could sustain demand for safe-haven assets. On the geopolitical front, despite the optimism sparked by the surprise ceasefire agreement that ended the twelve-day war between Israel and Iran, the possibility of renewed escalation remains on the table. Media outlets have been abuzz with a leaked intelligence report to CNN that was about that the U.S. strike only managed to delay Iran’s nuclear program by a few months and did not eliminate its stockpile of enriched uranium. In other words, the war ended before achieving its core objective—let alone dismantling Iran’s ballistic missile capabilities. This could also complicate any future negotiations, as Israel may double down on its demands for a complete dismantling of Iran’s nuclear and missile programs, while Tehran may cling even more tightly to these programs following the recent conflict. On the other hand, New York Times columnist Thomas Friedman expressed hope that the political fallout for both sides might generate internal pressure strong enough to prevent another confrontation. In any case, should escalation resume, markets may enter a new cycle of geopolitical risk. However, such episodes are unlikely to last long unless the red line is crossed, namely, direct attacks on key oil and gas export infrastructure or on global shipping routes. This logic explains the fragile nature of the risk premiums that both oil and gold gained during earlier waves of escalation. Now that the latest round of conflict has ended, the market's attention could shift back to trade tensions, which remain unresolved. The suspension of U.S. tariffs on the European Union is set to expire in early July, with the deadline for China following in mid-August. This comes at a time when businesses still face considerable uncertainty over tariffs and inflationary pressures, as highlighted in recent S&P Global PMI surveys across the Eurozone and the United States . A return to tariffs or the collapse of trade negotiations could once again ignite fears of persistent inflation, which would likely keep interest rates elevated for longer in the U.S. This, in turn, poses a threat to economic growth. This is the dynamic that has historically been supportive for gold. Conversely, resolving these concerns may strip gold of one of its main drivers, making previous record highs harder to reach.
CAPITALCOM:GOLD
by SamerHa
Gold Price Analysis June 25The Daily Candle shows a strong selling force breaking out of the 3-day accumulation zone. Gold hits the support zone of 3296 and bounces towards the resistance zone of 3342. Today, there is unlikely to be a rebound, there is a possibility of an increase in the Asian session and the European session, and the US session will return to the Selling force. The recovery from 3296 towards 3342, some selling force may appear around 3342, forming a strong bearish structure. The Bearish Wave Structure will weaken if it breaks 3342. The 3363 area is still noteworthy for SELL signals. The market closed above 3363, confirming the break of the downtrend and heading towards the resistance zone of 3388. The bottom support of 3302 will help prevent a temporary decline before heading towards the target of 3278.
OANDA:XAUUSD
by TVS-Trader
Gold Price at Pressure Point.The market just retested a key rejection zone near 3328, but bulls are struggling to flip it. A quick bounce was seen, yet the structure remains weak — and sellers may step in hard again. Price is currently compressed below resistance, and momentum looks fragile. 📍 Break below 3320 opens doors to 3293 and 3255 📍 A strong break above 3336 may flip short-term bias This is a high-stakes zone — patience here is power. Let the market reveal its direction. No rush. No emotion. > Watch the structure — not the noise.
TVC:GOLDShort
by Curse_of_gold
Report - 25, June 2025Ceasefire Fragility and Unprecedented Presidential Posture President Donald Trump has publicly rebuked both Israel and Iran in an attempt to preserve a ceasefire brokered after 12 days of escalating conflict. His unfiltered criticism — including an unusually blunt quote characterizing both sides as having “fought so long... they don’t know what the fuck they’re doing” — signals rising frustration with maintaining stability in a region long considered a geopolitical powder keg. While initially celebrating the ceasefire and claiming victory over Iran’s nuclear capabilities, Trump’s stance shifted dramatically in response to renewed missile exchanges. Notably, after Iran fired three missiles post-ceasefire (causing no casualties), Israel retaliated by targeting an Iranian radar station, prompting a direct command from Trump via social media: “ISRAEL. DO NOT DROP THOSE BOMBS… BRING YOUR PILOTS HOME, NOW!” Despite ongoing minor violations, both sides have reportedly heeded Washington’s demands, with Israel claiming its military objectives were fulfilled. The ceasefire currently holds, but remains vulnerable to provocation or miscalculation. Strategic Realignment: U-Turn on Iran Sanctions and Oil Trade In a major policy reversal, Trump has authorized China to resume importing oil from Iran — effectively dismantling months of sanctions enforcement against Chinese refiners and shipping intermediaries. This shift is tied to two strategic aims: Stabilize energy markets post-conflict to mitigate inflationary spikes. Incentivize Iran's continued adherence to the ceasefire. However, this decision directly contradicts Trump’s earlier "maximum pressure" stance and introduces credibility risk for U.S. sanctions policy. Analysts remain cautious, noting that formal sanction relief has not been legislatively confirmed. If sustained, this move could: Provide Tehran with critical cash flow (~1.5M bpd exports) Reduce U.S. leverage in future nuclear negotiations Empower China in energy diplomacy as a balancing counterweight NATO Dynamics: Trump Demands 5% Defense Spending Trump’s NATO agenda has drawn both praise and backlash. In a leaked message, NATO Secretary-General Mark Rutte credited Trump with forcing European nations to commit to raising defense spending to 5% of GDP: “You will achieve something NO American president in decades could get done.” While major powers like Germany, France, and the UK are reportedly complying, Spain has refused — risking a public rift. Trump has cast doubt on Article 5 commitments by questioning its interpretation, though he reiterated support for allies “as friends.” This episode illustrates the dual nature of Trump’s strategy: A transactional, cost-focused defense model Willingness to weaponize public embarrassment for leverage Market Response: Relief Rally, Oil Retreats, and Risk-On Rotation Markets cheered the ceasefire with a strong rotation into risk assets and away from geopolitical hedges: Brent crude fell 5.8% to $67.37/barrel, reflecting de-escalation and confidence in uninterrupted Strait of Hormuz access. S&P 500 hit its highest level since February, rising 1.1%. Nasdaq jumped 1.4% on renewed tech appetite. Stoxx Europe 600 gained 1.1%, while FTSE 100 lagged (flat) due to energy exposure (BP –4.8%, Shell –3.7%). Currency and bond markets responded accordingly: USD Index –0.5% as safe-haven demand waned GBP surged to $1.365, highest since 2022 Gold fell 1.6% to $3,314/oz — its sharpest drop in a month US 10-year Treasury yields rose to 4.30%, on stronger economic sentiment and Powell’s congressional testimony
FOREXCOM:XAUUSD
by Buranku
Oil Price Falls Below $69Oil Price Falls Below Pre-Escalation Levels of Middle East Conflict According to the XBR/USD chart: → Prior to Israel’s airstrikes on Iran on 13 June, the price of Brent crude was hovering around the $69.00 mark; → Following US bombings in Iran, the price spiked at the Monday market open, reaching a high of approximately $77.77 (as we reported on 23 June). However, after President Trump announced a ceasefire between Iran and Israel — later confirmed by statements from both sides — oil prices dropped sharply. This morning, Brent is trading around $68, which is even lower than the level seen before the initial strikes. Media outlets report that analysts broadly agree that fears have eased, even if the ceasefire appears fragile. Market participants seem to view the likelihood of the conflict escalating into a full-scale ground war — involving US troops and the closure of the Strait of Hormuz — as low. Shipping through the strait is reportedly returning to normal. Technical Analysis of the XBR/USD Chart Interestingly, the $69 level — from which prices surged on 13 June — acted as resistance yesterday (as indicated by the arrow on the chart). It can be assumed that the longer the ceasefire holds, the less relevant the fears that have served as bullish drivers. In that case, Brent crude prices may continue fluctuating within a downward channel, outlined in red, with the possibility of a short-term rise toward its upper boundary. Nevertheless, the key drivers for oil prices will remain the fundamental backdrop and official statements regarding the situation in the Middle East and other geopolitical factors. 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:XBRUSD
by FXOpen
1
XAU SHORT Bias: Bearish Entry Zone: 3,325–3,328 (Supply Zone) Confirmation: Price rejection from supply + break of ascending trendline Timeframe: 15m Technical Breakdown: Price entered a previously established supply zone around 3,325–3,328. A clean rejection from this zone occurred, followed by a break of the short-term ascending trendline. Liquidity sweep observed just above the recent highs before reversal, suggesting smart money manipulation before the drop. TP: 3,300.51 SL : ~3,329.50
FX:XAUUSDShort
by midzi556
Gold is showing potential signs of a bullish reversalGold is showing potential signs of a bullish reversal after a prolonged bearish trend. The price recently rejected strongly from a key resistance level, triggering a sharp internal liquidity sweep followed by a fast downside move. This indicates that smart money may have cleared out weak hands. Resistance zone 3335 / 3360 Support zone 3300 / 3285 Currently, the market appears to be compressing, forming a potential bullish structure. If this consolidation holds and breaks to the upside, it may confirm the beginning of a bullish leg. You may find more details in the chart Ps Support with like and comments for more analysis/
OANDA:XAUUSDLong
by MrMartin_11
1
Gold shorts point to 3245 Gold market analysis: Short-term dominant pattern established, rebound high-altitude main tone Market review and driving factors Spot gold fell sharply, with a single-day drop of more than 2%, hitting a low of $3295/ounce (a new low since June 9), and finally closed at around $3322. The decline was mainly driven by two factors: Geopolitical risks cool down: Iran and Israel reach a ceasefire agreement, and market risk aversion demand weakens; Fed hawkish expectations strengthen: Powell reiterates cautious interest rate cut stance, and the strengthening of the US dollar suppresses gold prices. Technical analysis: Short-term dominant, rebound under pressure 1. Daily level: Big Yin breaks, strong short momentum K-line pattern: The daily line closes with a real big Yin line, confirming the short-term short trend, and the price falls below the shock low of the previous two weeks. Key support: $3295 (yesterday's low) is the last line of defense for bulls. If it is lost, it may further explore the 3280-3270 area. Resistance level: 3340-3347 USD (top and bottom conversion position + hourly moving average suppression); 3370 USD (yesterday's high point, strong resistance). 2. 4-hour level: oscillating down, limited rebound Disk pattern: Yesterday showed an oscillating downward rhythm of "Asia session down → rebound → European session continued to fall → US session bottomed out and rebounded", which is in line with the technical correction expectations. Moving average system: MA5/MA10 dead cross downward, 3340-3347 area constitutes short-term rebound suppression. MACD indicator: Dead cross with large volume, but the fast and slow lines are close to the oversold area, so be alert to short-term rebound correction. Trading strategy: rebound high and empty Short order strategy (main idea): Entry range: 3342-3347 USD; Stop loss: 3355 USD (short order invalid if it breaks through); Target: 3310→3295 (if it breaks through, look at 3280). Logic: 3347 is the resistance level after the previous low is broken. Combined with the moving average pressure, the rebound to this point can be regarded as an ideal short-selling point. Long order strategy (short-term rebound): Prerequisite: If the Asian and European sessions first fall back to 3300-3295 without breaking, you can try long with a light position; Stop loss: 3288 US dollars; Target: 3320-3330 (quick in and out). Key risk reminder Upward risk: If Powell's speech unexpectedly turns dovish, or the geopolitical situation changes again, the gold price may break through 3355 and rebound to 3370. Downward risk: If 3295 is lost, it will accelerate the decline to the 3280-3270 support area, and even test the 3250 mark. Conclusion and operation suggestions Overall tone: Under the pressure of the big negative line on the daily line, rebound shorting is still the main strategy, focusing on the pressure near 3347. Asia-Europe session: If it rebounds above 3340 first, short orders can be arranged in batches; if it directly breaks below 3295, short orders can be followed. US session: Pay attention to Powell's speech and US economic data, and be alert to the intensification of market volatility.
FOREXCOM:XAUUSD
by Liz_Trading_gold
1
Powell's Softer Tone Hints at Gold's LiftoffXAUUSD: Powell's Softer Tone Hints at Gold's Liftoff – Ready for a July Rally? Hey everyone! Let's dive into XAUUSD today! We've got some sweet news from Fed Chair Jerome Powell that could be a game-changer for Gold. 🌍 Macro Edge: Gold Breathes Easier as Rate Pressures May Ease! Gold's recent climb is largely thanks to Powell's "soft-spoken" remarks. He's openly admitted that tariff-driven inflation is lower than expected, even subtly hinting at earlier rate cuts – perhaps as soon as July! Despite his "no need to rush" stance, the market's getting a clear message: if inflation keeps cooling down, the Fed will have room to loosen policy sooner. This is music to Gold's ears! Lower rates mean a reduced opportunity cost for holding Gold (which doesn't yield), making it far more attractive to investors. 🌐 Capital Flows: Gold vs. USD – Who's the Next Safe-Haven King? Market liquidity always dances to the tune of interest rates and risks. Gold and the USD typically share the safe-haven crown during volatile times. However, if Powell's "dovish tilt" holds, and the Fed cuts rates soon, prepare for a significant capital shift: USD might cool off: Lower US yields reduce the USD's appeal. Gold takes the spotlight: With lower holding costs and persistent global geopolitical uncertainties, Gold could see a surge in demand. The market's re-pricing of Fed policy is already bolstering Gold, signaling a potential upside move on the horizon! 📊 Technical Insight (H4/M30 Chart): Gold Breaking Free, Targeting Higher Peaks! Looking at our XAUUSD chart (H4/M30, based on your image): Channel Breakout: Gold has clearly broken out of its prior descending channel! This is a positive sign, indicating weakening selling pressure and a potential trend reversal. Price is consolidating, possibly forming a new accumulation pattern or a minor ascending channel. Key Levels to Watch: Potential SELL Zone (Resistance): Around 3352.383 - 3371.205. This is a major historical resistance cluster where Gold has previously met strong selling pressure. Watch for rejection here. Higher Resistance: 3391.750 - 3395.000. A decisive break above this level would signal a more robust long-term bullish trend. Current BUY Zone (Support): Around 3302.939 - 3311.214. This is a critical demand zone where strong buying interest is likely to emerge, aligning with recent lows. Next Key Support: 3286.257. This is the next line of defense if the current BUY zone breaks. 🎯 Trade Plan & Key Zones: BUY ZONE: 3286 - 3284 SL: 3280 TP: 3290 - 3294 - 3298 - 3302 - 3306 - 3310 - 3315 - 3320 BUY SCALP: 3302 - 3300 SL: 3295 TP: 3306 - 3310 - 3314 - 3318 - 3322 - 3326 - 3330 SELL ZONE: 3353 - 3355 SL: 3360 TP: 3350 - 3346 - 3340 - 3335 - 3330 - 3320 SELL ZONE: 3372 - 3374 SL: 3378 TP: 3370 - 3366 - 3362 - 3358 - 3354 - 3350 ⚠️ What Else to Watch For: More Fed Official Speeches: Any new comments on inflation or policy will keep the market buzzing. Geopolitical Developments: Ongoing global tensions can always boost Gold's safe-haven appeal. Let's trade smart and stay sharp! Wishing everyone a successful trading day!
OANDA:XAUUSDLong
by MMFlowTrading
XAUUSD 1H – TCB Strategy Setup🔁 XAUUSD 1H – TCB Strategy Setup Clean TCB formation in play: 🔹 Trend: Bullish reversal from 3280 demand zone after liquidity sweep. 🔹 Countertrend: Bearish channel structure broken with momentum. 🔹 Breakout: Price retesting 3310–3315 as new demand zone. 📌 Bias: Bullish 🎯 TP1: 3380 🎯 TP2: 3430 ❌ Invalidation below: 3275 ✅ Checklist Score: 95% Following the TCB model for high-probability continuation. Let’s see how price reacts around NY session. #XAUUSD #GoldAnalysis #TCBstrategy #SmartMoney #PriceAction #ForexTrading #MarketStructure
OANDA:XAUUSDLong
by J1000PIPSfx
#3,300.80 tested as expectedAs discussed throughout my yesterday's session commentary: "My position: I will Sell every High’s on Gold especially if #3,352.80 benchmark is not recovered waiting for #3,300.80 benchmark test." I have announced #3,300.80 test throughout yesterday's session commentary with engaging excellent Selling orders (mostly aggressive Scalps) until #3,300.80 benchmark isn't achieved. Technical analysis: Strong rejection from late yesterday's session local High’s on increased Volume indicating that Sellers are strongly positioned at that mark, which is Technically the Support fractal on the neckline of former Bullish structure / pattern over Neutral High’s / Low’s. However a strong Support presence is seen at current #3,292.80 - #3,302.80 levels where Gold rebounded on an Hourly 4 chart’s Doji Star Bullish reversal candle many times in near past. This decline is temporarily confusing the patterns but with a new Higher Low’s and as long as the Lower Low’s Upper zone stays intact, I will regardless remain Bearish awaiting retracement to test #3,300.80 psychological benchmark once again. One must be fast to adapt on market changes which are the case lately in order not to hold worthless positions. Bond Yields however climbed to fresh Annual High’s above (# +4.5%) while DX is following the sequence on parabolic downtrend delivering #3-session Selling spree on Gold. Price-action remains contained near Hourly 1 chart's #3,327.80 as my main point of interest. My position: I assume no new orders as I will await where Gold will turn next / reveal major move. Either #3,327.80 - #3,332.80 break-out towards #3,352.80 benchmark or big Sell towards #3,300.80 benchmark first, then if #3,292.80 gives away, #3,252.80 benchmark. Trade accordingly.
OANDA:XAUUSDShort
by goldenBear88
Next Opportunity- Recent set-up was successScenario: Waiting for price reaction at FVG zone Entry Plan: Buy Limit @ 3310–3307 (FVG zone) SL: Below 3300 TP1: 3330 TP2: 3345 (Retest of Strong Resistance) Bias: Intraday Bullish Rebound 🧠 Technical Analysis & Sentiment Bias: Bullish (Short-Term) 🟢 6.5/10 Reasons: Price entering demand zone + FVG imbalance Potential NY session reversal pattern 4H forming a falling wedge (bullish potential) 🗝️ Chart Key Notes “Clean drop to FVG — watching for bullish reaction” “Possible reversal to 3330–3345 if 3307 holds” “NY liquidity could flip direction – monitor DXY & yields”
OANDA:XAUUSDLong
by FaithdrivenTrades
#3,300.80 tested as expectedAs discussed throughout my yesterday's session commentary: "My position: I will Sell every High’s on Gold especially if #3,352.80 benchmark is not recovered waiting for #3,300.80 benchmark test." I have announced #3,300.80 test throughout yesterday's session commentary with engaging excellent Selling orders (mostly aggressive Scalps) until #3,300.80 benchmark isn't achieved. Technical analysis: Strong rejection from late yesterday's session local High’s on increased Volume indicating that Sellers are strongly positioned at that mark, which is Technically the Support fractal on the neckline of former Bullish structure / pattern over Neutral High’s / Low’s. However a strong Support presence is seen at current #3,292.80 - #3,302.80 levels where Gold rebounded on an Hourly 4 chart’s Doji Star Bullish reversal candle many times in near past. This decline is temporarily confusing the patterns but with a new Higher Low’s and as long as the Lower Low’s Upper zone stays intact, I will regardless remain Bearish awaiting retracement to test #3,300.80 psychological benchmark once again. One must be fast to adapt on market changes which are the case lately in order not to hold worthless positions. Bond Yields however climbed to fresh Annual High’s above (# +4.5%) while DX is following the sequence on parabolic downtrend delivering #3-session Selling spree on Gold. Price-action remains contained near Hourly 1 chart's #3,327.80 as my main point of interest. My position: I assume no new orders as I will await where Gold will turn next / reveal major move. Either #3,327.80 - #3,332.80 break-out towards #3,352.80 benchmark or big Sell towards #3,300.80 benchmark first, then if #3,292.80 gives away, #3,252.80 benchmark. Trade accordingly.
TVC:GOLDShort
by goldenBear88
GOLD recovers from 2-week low, short-term neutral biasOANDA:XAUUSD hit a two-week low in yesterday's trading session before recovering, currently trading around $3,330/oz, up slightly by about 0.14% on the day. The main reason was the ceasefire between Iran and Israel, which curbed demand for safe-haven gold. In addition, Federal Reserve Chairman Powell made hawkish comments, which also affected the gold price trend. Israel and Iran reach ceasefire agreement A ceasefire came into effect on Tuesday under pressure from US President Donald Trump, raising optimism that the biggest military conflict between the two arch-rivals in the Middle East may be coming to an end. The easing of tensions in the Middle East has been a major factor in the pressure on gold. Risk sentiment has weakened and the market has entered risk-on mode. US President Trump announced on Monday evening that Israel and Iran had reached an agreement on a “complete and total ceasefire”. Iran’s state TV officially announced on Tuesday that Iran had ceased fire with Israel. Israeli Defense Minister Israel Katz announced earlier Tuesday that the Israeli military would launch a new wave of strikes on targets in Tehran in retaliation for Iran's missile launch and "blatant violation" of the ceasefire. The Israeli government said that Israel would hold off on further strikes on Iran after Prime Minister Benjamin Netanyahu spoke with US President Trump. Powell sends important signal Federal Reserve Chairman Powell will testify before the House Financial Services Committee on Tuesday and deliver a report on the Fed’s monetary policy. Powell will also testify before the Senate Banking Committee today (Wednesday). In congressional testimony on Tuesday, Powell said the Fed needs more time to see whether tariffs are causing inflation to rise further before considering cutting interest rates. In congressional testimony, Powell said he and most Fed officials expect inflation to rise soon and that the Fed is in no rush to cut rates before then. “We are now in a very good position to wait and see what the likely path of the economy is before considering whether to adjust the policy stance,” Powell said. Markets generally believe that the July 29-30 meeting is unlikely to result in a rate cut, with the first rate cut expected in September. Technical Outlook Analysis OANDA:XAUUSD With the current technical position, gold has not yet had a complete short-term trend as the price action is still around the EMA21 moving average, and the RSI is operating around the 50 level. With the current price action showing that the market is still hesitant, gold may enter a sideways accumulation phase. However, in terms of the long-term trend, gold is still in a long-term uptrend channel with the case for a complete downtrend to occur is the condition that the price action is taken below the raw price point of 3,300 USD. Then the downside target is the 0.50% Fibonacci retracement level in the short term. During the day, the trend of gold is neutral with the expected operating range between 3,350 – 3,300 USD. Notable positions will also be listed as follows. Support: 3,320 – 3,300 USD Resistance: 3,350 – 3,371 USD SELL XAUUSD PRICE 3349 - 3347⚡️ ↠↠ Stop Loss 3353 →Take Profit 1 3341 ↨ →Take Profit 2 3335 BUY XAUUSD PRICE 3301 - 3303⚡️ ↠↠ Stop Loss 3297 →Take Profit 1 3309 ↨ →Take Profit 2 3315
OANDA:XAUUSD
by Xayah_trading