Hello Traders,
As we head into the final stretch of September, gold is approaching a critical technical juncture. With prices testing a key supply zone and momentum indicators running hot, traders are watching closely for signs of either continuation or reversal. This week could offer important clues about the broader trend heading into Q4. Let’s dive into the levels, catalysts, and scenarios that matter most.
🟡 Gold Summary (XAUUSD)
Current Price: ~3760 Bias: Bearish–Neutral Catalyst: NFP (Non-Farm Payrolls) this Friday
🔑 Key Levels
Resistance (Supply Zones):
* 3770–3835 → Current ceiling (weekly supply)
* 3895–3945 → Breakout confirmation zone
Support (Demand Zones):
* 3640–3600 → First major demand
* 3560–3510 → Secondary support
* 3480–3430 → Deeper shelf
* 3250–3200 → Long-term institutional demand
🔻 Bearish Scenario (Favored unless breakout occurs)
* Rejection at 3770–3835 → Targets: 3640 → 3560 → 3480
* RSI divergence + stretched EMAs support pullback
🔺 Bullish Scenario
* Break and hold above 3820–3835 → Targets: 3850 → 3895 → 3945
* Weekly close above 3820 = strong continuation signal , opens up possibility of price targeting $4K.
📉 Intraday (H1–H4)
* Structure: Bullish but weakening
* EMAs stretched, RSI diverging
* Tactical rejection at 3775–3795 opens downside
* Breakout above 3795–3820 needed for further upside
⚔️ Decision Point
3760–3785 = Key battle zone
* Rejection → Bearish retrace
* Breakout → Bullish continuation
✅ Strategy: Wait for confirmation. NFP will likely trigger the move.
As we head into the final stretch of September, gold is approaching a critical technical juncture. With prices testing a key supply zone and momentum indicators running hot, traders are watching closely for signs of either continuation or reversal. This week could offer important clues about the broader trend heading into Q4. Let’s dive into the levels, catalysts, and scenarios that matter most.
🟡 Gold Summary (XAUUSD)
Current Price: ~3760 Bias: Bearish–Neutral Catalyst: NFP (Non-Farm Payrolls) this Friday
🔑 Key Levels
Resistance (Supply Zones):
* 3770–3835 → Current ceiling (weekly supply)
* 3895–3945 → Breakout confirmation zone
Support (Demand Zones):
* 3640–3600 → First major demand
* 3560–3510 → Secondary support
* 3480–3430 → Deeper shelf
* 3250–3200 → Long-term institutional demand
🔻 Bearish Scenario (Favored unless breakout occurs)
* Rejection at 3770–3835 → Targets: 3640 → 3560 → 3480
* RSI divergence + stretched EMAs support pullback
🔺 Bullish Scenario
* Break and hold above 3820–3835 → Targets: 3850 → 3895 → 3945
* Weekly close above 3820 = strong continuation signal , opens up possibility of price targeting $4K.
📉 Intraday (H1–H4)
* Structure: Bullish but weakening
* EMAs stretched, RSI diverging
* Tactical rejection at 3775–3795 opens downside
* Breakout above 3795–3820 needed for further upside
⚔️ Decision Point
3760–3785 = Key battle zone
* Rejection → Bearish retrace
* Breakout → Bullish continuation
✅ Strategy: Wait for confirmation. NFP will likely trigger the move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.