Early Week Pullback Ahead of Key Economic Releases

Gold Outlook – 14 July | Early Week Pullback Ahead of Key Economic Releases
🌍 Market Sentiment & Macro Overview
Gold has started the week with a sharp retracement after filling prior liquidity gaps (FVG) from the past two weeks.
This early weakness signals a risk-off tone as traders adopt a cautious stance ahead of a heavy macroeconomic calendar and geopolitical trade discussions.

This week’s high-impact events include:

📌 US CPI (Inflation Data)

📌 US PPI (Producer Prices)

📌 Unemployment Claims

📌 Retail Sales Figures

These data points will likely set the tone for price action through the second half of the week, with potential for sharp moves in gold.

📉 Technical Snapshot – M30 Chart Structure
Price swept minor liquidity above recent highs
Pulled back by more than $15 from the short-term top
Currently trading below the intraday VPOC (~3358), suggesting short-term bearish momentum

If the selling pressure holds, we may see a move toward:
⚠️ 333x zone — initial liquidity pool
❗ 332x zone — deeper liquidity grab before any bullish reversal

🧭 Trading Plan – Key Zones and Setup
📥 Buy Setup: 3331 – 3329 (Zone of Interest)
Stop Loss: 3325
Target Levels:
TP1: 3335
TP2: 3340
TP3: 3344
TP4: 3350
TP5: 3360 – 3370

✅ A highly reactive zone — ideal for intraday long setups if price sweeps into this area and shows bullish confirmation (e.g., volume spike or rejection wick).

📤 Sell Setup: 3393 – 3395 (Resistance Re-Test)
Stop Loss: 3399
Target Levels:
TP1: 3390
TP2: 3386
TP3: 3382
TP4: 3378
TP5: 3374 – 3370 – 3360

📉 Potential scalp zone if price retests resistance with signs of exhaustion. Monitor closely for bearish structure confirmation.

📊 Key Support & Resistance Levels
Resistance Zones:

3358

3368

3374

3394

Support Zones:

3349

3340

3331

3318

These zones remain relevant for both momentum trades and reversion setups.

⚠️ Strategy Considerations
At the time of writing, gold is trading indecisively around the M30 VPOC. No clear breakout has occurred yet.

⏳ Wait for volume confirmation during the London session

🚫 Avoid impulsive entries based on emotions or FOMO

✅ Stick to your risk parameters and let price come to your level

🧠 Summary & Bias
Gold is experiencing an early-week technical correction after recent strength.
The market is in "wait-and-see" mode, with macro drivers likely to dictate direction from mid-week onwards.

📍 Watch the 3331–3329 zone closely — it remains the most attractive level for long setups.
📍 The 3393–3395 zone is a key area to fade strength if price struggles at resistance.

Patience and precision are key this week. Let the market reveal its intention, and trade accordingly.