Gold May See Minor Pullback After Testing $3400

6 hari lalu

📊 Market Development:

Gold surged to approach the $3,400 mark after U.S. Unemployment Claims came in higher than expected. The weak labor data increased speculation of an earlier rate cut by the Fed, pressuring the USD and bond yields, which in turn supported gold prices.

📉 Technical Analysis:

• Key Resistance: $3,400
• Nearest Support: $3,365
• EMA: Price remains above EMA 09 → bullish bias intact
• Candle/Volume/Momentum: Long upper wick on H1 suggests profit-taking near $3,400; declining volume may signal weakening momentum.

📌 Outlook:

Gold may experience a short-term pullback if it fails to break above $3,400 and the USD strengthens in the New York session.

💡 Suggested Trade Setup:

🔻 SELL XAU/USD at: $3,395–$3,400
🎯 TP: $3,375
❌ SL: $3,406

🔺 BUY XAU/USD at: $3,365–$3,370
🎯 TP: $3,390
❌ SL: $3,355

5 hari lalu

Dagangan aktif

Gold prices unexpectedly surged to 3444 earlier than previously anticipated, driven by a combination of escalating geopolitical tensions in the Middle East, growing expectations that the U.S. Federal Reserve will soon cut interest rates following weak economic data, and a weakening U.S. dollar, which boosted safe-haven demand for gold.

Here are the suggested trade signals:

🔻 SELL XAU/USD
Entry: 3440 – 3444
 
🎯 TP: 3400 / 3360 / 3240
 
🛑 SL: 3455
 

🔺 BUY XAU/USD
Entry: 3385 – 3390
 
🎯 TP: 3430 / 3460 / 3500
 
🛑 SL: 3370