Last week’s analysis played out perfectly, securing over 2,500+ pips as forecasted. This move was largely driven by a blend of technical setups and fundamental catalysts, particularly the ongoing U.S. China tariff war which increased gold’s safe haven appeal.
FUNDAMENTAL BACKDROP:
China’s tariff hike to 125% on U.S. goods has rattled global markets, weakening the U.S. dollar and pushing gold higher.
Continued macroeconomic uncertainty, rising inflation fears, and tensions over U.S. trade policy all favor a bullish long-term outlook for gold.
Upcoming Events to Watch:
U.S. Retail Sales and CPI data this week.
Any further developments in the U.S. China trade standoff.
Fed speeches that could impact dollar strength.
Weekly Timeframe:
Gold retested a key weekly break of structure and closed with a bullish engulfing candle, suggesting continued upside.
Daily Timeframe:
Three of the most aggressive bullish candles we've seen this year showing strong institutional momentum.
4-Hour Channel Breakout:
A clear bullish breakout from a tight 4H channel, showing potential for continued expansion.
Leading in to next week if we start to see a pull back before a continued rise we can look to buy gold at 3190 or 3077.
KEY LEVELS TO WATCH THIS WEEK:
Buy Zones:
3109 a shallow pullback before continuation.
3077 – a key golden zone level backed by multiple confluences:
0.618 Fibonacci Retracement
4 hr and daily order block
Daily candle meet
Friday saw us find resistance from a trend line and pivot point.
Firstly marking golds current low to high we will find these to numbers as golds golden zone. Along with the 4 hr 50 ma
A deeper correction to 3077 would be a stronger buy. As you know I ve covered the importance of this number and gold. Linked here
But also 3177 offers also has a gap to be filled from Fridays open.
Using 3077 as confluence for the contiune of the rise of gold. Using fib extention tool we can target 100% extention of 3352.
Gold remains fundamentally strong and technically bullish. Watch for either a shallow or deeper pullback into 3190 or 3077 to buy into continuation. With proper confirmation, we could see another leg targeting 3352+.
FUNDAMENTAL BACKDROP:
China’s tariff hike to 125% on U.S. goods has rattled global markets, weakening the U.S. dollar and pushing gold higher.
Continued macroeconomic uncertainty, rising inflation fears, and tensions over U.S. trade policy all favor a bullish long-term outlook for gold.
Upcoming Events to Watch:
U.S. Retail Sales and CPI data this week.
Any further developments in the U.S. China trade standoff.
Fed speeches that could impact dollar strength.
Weekly Timeframe:
Gold retested a key weekly break of structure and closed with a bullish engulfing candle, suggesting continued upside.
Daily Timeframe:
Three of the most aggressive bullish candles we've seen this year showing strong institutional momentum.
4-Hour Channel Breakout:
A clear bullish breakout from a tight 4H channel, showing potential for continued expansion.
Leading in to next week if we start to see a pull back before a continued rise we can look to buy gold at 3190 or 3077.
KEY LEVELS TO WATCH THIS WEEK:
Buy Zones:
3109 a shallow pullback before continuation.
3077 – a key golden zone level backed by multiple confluences:
0.618 Fibonacci Retracement
4 hr and daily order block
Daily candle meet
Friday saw us find resistance from a trend line and pivot point.
Firstly marking golds current low to high we will find these to numbers as golds golden zone. Along with the 4 hr 50 ma
A deeper correction to 3077 would be a stronger buy. As you know I ve covered the importance of this number and gold. Linked here
But also 3177 offers also has a gap to be filled from Fridays open.
Using 3077 as confluence for the contiune of the rise of gold. Using fib extention tool we can target 100% extention of 3352.
Gold remains fundamentally strong and technically bullish. Watch for either a shallow or deeper pullback into 3190 or 3077 to buy into continuation. With proper confirmation, we could see another leg targeting 3352+.
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