Waiting for the Breakout: Consolidation or Trend Continuation?

XAUUSD – Waiting for the Breakout: Consolidation or Trend Continuation?

Gold (XAUUSD) is trading within a narrowing range, building momentum after rebounding from the 3.276 support area. Despite short-term uncertainties, the overall macroeconomic landscape continues to favor bullish scenarios — though key resistance levels must be cleared to confirm continuation.

🌍 MACRO & MARKET SENTIMENT

USD Weakness: The DXY continues to trade under pressure, increasing the appeal of non-yielding assets like gold.

US–China Trade Talks: Ongoing high-level negotiations in London could either ease geopolitical tensions or fuel safe-haven demand, depending on outcomes.

Global Risk Appetite: With US debt ceiling concerns still looming and the Fed showing hesitancy to cut rates soon, gold remains in focus as a hedge.

📈 TECHNICAL OUTLOOK (30M–H1)

The price has formed a descending wedge structure and is hovering near key EMAs (13–34–89–200).

A breakout above 3,334 could trigger a short-term bullish wave, while failure at this zone would likely lead to deeper correction toward 3,276 or lower.

📍 STRATEGIC KEY LEVELS

Resistance: 3,334 – 3,336 – 3,362 – 3,390

Support: 3,300 – 3,276 – 3,250

🧭 TRADING SCENARIOS

🔵 BUY ZONE: 3,276 – 3,274
SL: 3,270
TP: 3,280 → 3,284 → 3,288 → 3,292 → 3,296 → 3,300

🔻 SELL SCALP: 3,334 – 3,336
SL: 3,340
TP: 3,330 → 3,326 → 3,322 → 3,318 → 3,314 → 3,310

🔻 SELL ZONE: 3,362 – 3,364
SL: 3,368
TP: 3,358 → 3,354 → 3,350 → 3,346 → 3,340 → 3,335 → 3,330 → 3,320

✅ SUMMARY

Gold remains in a critical range, and traders should focus on well-defined zones to capitalize on volatility. Use confirmation-based entries and respect risk parameters — especially as macro headlines and technical patterns align for a potential breakout.