Break out 3360 and short term downtrend, but be careful

🔔🔔🔔Gold news:

➡️ Gold extended its previous day's pullback, dropping nearly 1% to $3,323 on Thursday as improved risk sentiment weighed on the safe-haven asset. The shift in mood came ahead of an expected announcement by President Donald Trump regarding a trade deal with the UK, scheduled for a 14:00 GMT press conference in Washington, according to sources familiar with the matter.

➡️ Additional overnight momentum came from the Fed's rate decision and comments by Fed Chair Jerome Powell, who highlighted signs of recovery in the U.S. economy.

Personal opinion:
➡️ A US-UK trade deal is the beginning of positive negotiations with other countries. However, the two main characters of the US and China are not yet guaranteed. Therefore, the price of gold may fall because of positive information from tariffs, but that is not all. In addition, the Middle East war and India-Pakistan are still the driving force that keeps gold from falling too much.

➡️ Analysis based on important resistance - support zones and Fibonacci combined with EMA to come up with a suitable strategy

Plan:
🔆Price Zone Setup:

👉Sell Gold 3355 - 3357
❌SL: 3362 | ✅TP: 3351 - 3346 – 3340

👉Buy Gold 3305 - 3307
❌SL: 3300 | ✅TP: 3311 - 3316 – 3322

FM wishes you a successful trading day 💰💰💰

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