XAUUSD Gold M30 Chart Harmonic Overview

I will share the details.

Komen:

Fundamentals:

CNBC

The FED Chairman Jerome Powell failed to shed any new light on the pace of interest rate cuts later in the year.

Speaking at an event in New York, Powell struck a relatively neutral tone on the U.S. economy and monetary policy; he reiterated his outlook for slow but positive growth this year, despite rising crosscurrents in the global economy.

Federal Reserve Chairman Jerome Powell stresses the central bank’s “independence” in a speech.
His warning about policy caving to “short-term political interests” comes amid intense pressure from President Trump to cut interest rates.
He also stresses the importance of policies that will “sustain the expansion.”

“Since the beginning of the year, we had been taking a patient stance toward assessing the need for any policy change,” he said. “We now state that the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labour market and inflation near its symmetric 2 % objective.”

However, he emphasized that politics won’t be a consideration as the Fed is “grappling” with the idea of a rate cut.

Gold’s rally comes after Chairman Jerome Powell said last week the Federal Reserve would “act as appropriate” to keep the current economic expansion going, which upped the odds of the Fed cutting rates in July. Gold — seen as a global safe haven — also reacted positively to increasing geopolitical uncertainty after President Donald Trump signed new sanctions on Iran on Monday, days after Iran shot down a U.S. drone.

XAUUSD ended the day at 1.411 and continued to fall during Asia Session,

Technical Overview of H4 Chart:

Technical Indicators

RSI(14) 55.839 Buy
STOCH(9,6) 50.174 Neutral
STOCHRSI(14) 0.000 Oversold
MACD(12,26) 14.620 Buy
ADX(14) 55.862 Neutral
Williams %R -68.154 Sell
CCI(14) -48.3878 Neutral
ATR(14) 10.9679 Less Volatility
Highs/Lows(14) -3.0464 Sell
Ultimate Oscillator 45.065 Sell
ROC 0.564 Buy
Bull/Bear Power(13) -9.7119 Sell
Buy: 3 Sell: 4 Neutral: 3
Summary:SELL

Moving Averages:

SMA 20: 1409.87 / SELL

EMA 50: 1382 / BUY

SMA 100: 1353 / BUY

SMA 200: 1318 / BUY

The first Moving Average Resistance: 1421 SMA 5 H4

The first Moving Average Support: 1395 SMA 34 H4

Summary: Price is above all main Moving Averages but entering into negative territory in smaller chart timeframes. H1 Chart Bearish Golden Cut is developing.

Bollinger Bands Readings

Bollinger Bandwidth(20): 48.0078

Bollinger Bands %b(20:2): 26.860

Summary: Price is in the lower channel of the Bollinger Bands of negative territory. Headed North to test the lower BB.


Ichimoku Readings:

Senkou Span A: 1365

Senkou Span B: 1356

Tenkan-sen Kijun-sen: Neutral

Ichimoku Summary: Price is below Tenkan-Sen and above Kijun-Sen. Kijun-Sen Support 1398. Indecisive Area.


Murrey Math Calculations ( Support / Pivot / Resistance ):

Intraday Readings on H1 Chart

Upside Levels: 1414.06 MM 5/8 1421.88 5/8 Major Support-Reverse 1429 MM 6/8 Weak,Stall, Reverse

Downside Levels: 1405 MM 4/8 Major Support 1398.27 MM 3/8 Bottom of the Trading Range 1390.21 MM 2/8

Summary: Bearish Below 1414. H4 Closings below 1406 will send the price 1398 and 1390.

Divergence ( Regular / Hidden)

RSI: None

MACD: None

OSMA: Bearish Divergence 4 candles

STOCHASTICS: Bearish Divergence 3 candles

AWESOME: None

CCI: Bearish Divergence 3 candles


Candle Patterns ( Confirmed Only )

Nothing Confirmed

Komen:

Bearish Flag