Gold Likely to Extend Gains as USD Weakens, but Faces Resistance

3 天前

📊 Market Move:
Gold surged to a three-week high near $3,370/oz, driven by safe-haven demand amid renewed trade tensions between the U.S. and EU/Mexico and threats of a 100% tariff on Russian imports.
Investors are now focused on upcoming U.S. CPI data, which could trigger sharp moves if inflation comes in below expectations.

📉 Technical Analysis:
• Key Resistance: ~$3,365–$3,372; a breakout could open the way to $3,400–$3,440
• Nearest Support: ~$3,340 (S1), then ~$3,326 (SMA50), and deeper at $3,300–$3,320 (Fibonacci zone)
• EMA: Price remains above short-term EMAs (20/50/100), suggesting a continuing bullish bias
• Candlesticks / Volume / Momentum:
• RSI is neutral-to-bullish around 54; MACD shows strengthening bullish momentum
• Bollinger Bands are narrowing, signaling potential for a breakout

📌 Outlook:
Gold may continue edging higher or consolidate around the $3,365–$3,372 resistance zone if no new geopolitical shocks occur. However, if U.S. CPI comes in below expectations or if USD/Yields weaken, gold could rally further toward $3,400–$3,440.
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💡 Suggested Trading Strategy
🔻 SELL XAU/USD at: $3,370–3,373
🎯 TP: 40/80/200 pips
❌ SL: $3,376

🔺 BUY XAU/USD at: $3,340–3,337
🎯 TP: 40/80/200 pips
❌ SL: $3,334

3 天前

交易進行

Gold is moving sideways around 3365, in line with the previous analysis.
The market is waiting for a fresh catalyst from U.S. CPI data, with buyers and sellers locked in a tug-of-war near resistance.

3 天前

交易結束：目標達成

+110 pips from Buy entry : 3337$