Gold 1h Analysis - What to expect from Gold today

🌅 XAU/USD London Session Outlook – May 22, 2025

Market Bias: 🔼 Bullish (with minor pullback)
Current Price: $3,329.27
Timeframe: 1H chart with 5 & 21 EMA

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📊 Price Action Overview:
• Gold is holding above $3,321.87 after yesterday’s breakout rally stalled near $3,348.89.
• The market has pulled back modestly into the 21 EMA — still healthy structure with no breakdown.
• Trend remains bullish with higher highs and higher lows since May 17.
• Today’s price action so far is showing early signs of basing above $3,321.87 for a potential continuation.

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🔍 Key Levels:
• Support: $3,321.87 → intraday pivot zone
• Key Bullish Continuation Level: $3,348.89
• Further Targets: $3,378.81 and $3,409.74
• Breakdown Zone: $3,294.41 (if broken with momentum, could retest $3,269.07)

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📅 Key News Today (CET):
• 20:00 CET – FOMC Meeting Minutes 🔥
Expect volatility late in NY if there’s any change in tone about rate path

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🌍 Global Drivers:
• Fed sentiment still cautiously dovish after last week’s soft PPI/retail data
• Geopolitical landscape stable — gold reacting more to technicals and rate expectations
• Dollar stable — no fresh strength or weakness giving a clear lead

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📌 What to Expect Today:
• Consolidation or slight dip during London is likely before NY takes over with the FOMC minutes
• As long as price holds $3,321, buyers are in control
• If we reclaim $3,348, expect a push toward $3,378
• A break below $3,294 would open room for deeper pullback into the $3,269–$3,241 zone