GOLD - BREAKDOWN OF RISK ZONE 2880 MAY TRIGGER TREND CHANGE
Symbol - XAUUSD
Gold is deviating from its recent trend and is now testing the panic and risk zone at 2880 as part of a corrective phase. A retest of this level would increase the likelihood of a potential trend reversal.
The recent loss in gold's upward momentum can be attributed to the uncertainty surrounding President Trump's tariff plans and ongoing economic challenges in the United States. Conflicting statements from the president are providing support for the dollar, while rising bond yields are exerting downward pressure on gold prices.
Market participants are closely monitoring the upcoming US GDP data. Should the results fall short of the forecasted 2.3% there is potential for gold to appreciate. Additionally, speeches from Federal Reserve officials will be crucial, but the key factor remains President Trump's remarks, which could significantly influence market sentiment.
From a technical standpoint, the market structure is currently bearish, suggesting that a continuation of the decline is likely after a brief corrective phase.
Support levels: 2878, 2888
Resistance levels: 2890, 2907
A false breakdown of the aforementioned support levels, following a significant decline, could lead to a correction. Initially, the price may move toward the 0.5 Fibonacci retracement level, and after a brief pullback, the 0.7 Fibonacci level could be tested. However, market participants should closely observe the price action at these levels.
If gold continues its downward movement, attention will be focused on the 2880 level. Conversely, if the price struggles to move lower and begins testing resistance, there is a possibility that, amidst heightened risks, the market could shift back into a growth phase.
Gold is deviating from its recent trend and is now testing the panic and risk zone at 2880 as part of a corrective phase. A retest of this level would increase the likelihood of a potential trend reversal.
The recent loss in gold's upward momentum can be attributed to the uncertainty surrounding President Trump's tariff plans and ongoing economic challenges in the United States. Conflicting statements from the president are providing support for the dollar, while rising bond yields are exerting downward pressure on gold prices.
Market participants are closely monitoring the upcoming US GDP data. Should the results fall short of the forecasted 2.3% there is potential for gold to appreciate. Additionally, speeches from Federal Reserve officials will be crucial, but the key factor remains President Trump's remarks, which could significantly influence market sentiment.
From a technical standpoint, the market structure is currently bearish, suggesting that a continuation of the decline is likely after a brief corrective phase.
Support levels: 2878, 2888
Resistance levels: 2890, 2907
A false breakdown of the aforementioned support levels, following a significant decline, could lead to a correction. Initially, the price may move toward the 0.5 Fibonacci retracement level, and after a brief pullback, the 0.7 Fibonacci level could be tested. However, market participants should closely observe the price action at these levels.
If gold continues its downward movement, attention will be focused on the 2880 level. Conversely, if the price struggles to move lower and begins testing resistance, there is a possibility that, amidst heightened risks, the market could shift back into a growth phase.
交易結束：目標達成
Gold broke down below the 2880 risk area and subsequently retested the 2887 level, which acts as a resistance zone, before declining sharply to 2857
The 2858-2855 range represents a previous support zone and coincides with trendline support. Given that the bullish structure has now been broken, Gold is expected to move lower.
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