Short-term Bullish with Key Resistance Ahead

Oct 1

📊 Market Overview
Gold is currently trading around $3,876.80/oz, after a strong rally in the previous session. Buying pressure remains stable as the USD shows signs of weakness, while safe-haven demand stays elevated. However, the market is cautious ahead of upcoming U.S. economic data releases.

📈 Technical Analysis
• Near-term Resistance: $3,885 – $3,895
• Strong Resistance: $3,915
• Near-term Support: $3,860 – $3,850
• Strong Support: $3,835
• EMA20 (H1): Price is holding above EMA20, indicating that the short-term uptrend remains intact.
• H1 Candlestick: Small-bodied candles suggest slowing bullish momentum, with potential for a technical pullback before resuming the trend.

📌 Outlook
Gold maintains a short-term bullish trend, but the $3,885–$3,895 zone will be a key challenge. A breakout above this level could drive price toward the psychological $3,900 mark and further to $3,915. Conversely, if profit-taking increases, price may retest the $3,860–$3,850 support zone.

🎯 Trading Strategy
🔺 BUY XAU/USD: $3,845 – $3,850
• 🎯 TP: 40 / 80 / 200 pips
• 🛑 SL: $3,840
🔻 SELL XAU/USD: $3,885 – $3,895
• 🎯 TP: 40 / 80 / 200 pips
• 🛑 SL: $3,900

Oct 1

Trade active

Gold is consolidating within the $3,853–$3,865 range, awaiting a breakout to define the next trend.

Oct 1

Trade closed: target reached

Gold hit a new high for the third consecutive day at $3,895, approaching the $3,900 level.