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Gold Price Surges to $3,533: What’s Next?Gold (XAU/USD) has recently shown a strong bullish momentum on the TradingView 4-hour chart, climbing to $3,533.92. This move has caught the attention of traders worldwide as the precious metal approaches a key resistance level. In this article, we will analyze the current gold price action using technical indicators, discuss possible market scenarios, and share insights for traders. Current Gold Price Overview Current Price: $3,533.92 Resistance Level: $3,534 Support Level: $3,438 Timeframe: 4H Chart Gold has surged over $191 (+5.7%) from recent lows, reflecting strong bullish momentum driven by global market uncertainty and increasing demand for safe-haven assets. Trend Analysis The chart shows a strong uptrend, with the price trading above the moving average and forming higher highs and higher lows. The Zig Zag indicator (5,10) highlights the continuation of the bullish pattern. RSI Indicator The Relative Strength Index (RSI) is currently near the 70 level, indicating overbought conditions. This suggests a possible short-term correction or consolidation before the next bullish move. Volume Analysis Volume has increased significantly during this breakout, confirming strong buying interest from traders and institutions. Key Levels to Watch Immediate Resistance: $3,534 – If broken, gold may target $3,600 and then $3,700. Immediate Support: $3,438 – If price drops below this, a correction toward $3,350 is possible. Trading Strategy for XAU/USD 1. For Buyers (Bullish Traders): Wait for a confirmed breakout above $3,534 with strong volume before entering. Target $3,600 and $3,700 in the medium term. 2. For Sellers (Bearish Traders): Look for RSI overbought signals and bearish candlestick patterns near resistance for short-term pullback trades. Targets: $3,438 and $3,350. Why Use TradingView for Gold Analysis? TradingView is one of the best charting platforms for analyzing gold and other assets because it offers: Advanced technical indicators like RSI, Zig Zag, and Moving Averages. Real-time price updates for XAU/USD and other forex pairs. Interactive charts for better trade planning. Conclusion Gold is currently in a strong bullish trend, but traders should watch for resistance at $3,534 and monitor RSI levels for possible pullbacks. TradingView tools make it easier to analyze such setups and stay ahead in the market.
FXOPEN:XAUUSDShort
by forexinworld
GOLD: Where Will The Bulls Take Us Next?Why we should buy... (H4) Market structure is still bullish. Last strong BOS was through 3425, which confirms continuation. Demand Zone to watch:3428–3435 In case we get a deeper pullback, another zone to keep an eye on is 3405–3415. (H1) Gold closed the week strong, creating a clean FVG at 3430–3438 which aligns with H4 demand. As long as price holds above 3428, bulls remain in control. (M15) Intraday structure is bullish. Price is still creating higher highs and higher lows. Liquidity is sitting just above 3455–3460 which you could use for your first target. There is some internal liquidity also built up below 3435. This could be a perfect sweep area for a retest entry. Invalidation: A clean H4 close below 3420 would invalidate my bias and open further decline back into 3405–3415 area.
FOREXCOM:XAUUSDLong
by Dynamic-Dani
Gold (XAUUSD) – Symmetrical Triangle Breakout & Supply Zone ShorTVC:GOLD recently broke out of a symmetrical triangle on the upside. While this pattern is neutral, the breakout direction gives us momentum clues. 🔑 Key Zones: Central Zone (0.5 Fib retracement of last high) → currently acting as supply. If price rejects here → I expect reversal toward lower levels. If no reaction → next supply zone becomes my reversal area. 📉 My Plan: Entering a short position at Central Zone. Stop Loss: Above the last 4H candle close. Target: Previous imbalance/FVG and below. ⚙️ Methodology Used: Chart Patterns (Symmetrical Triangle breakout) MMC (Mirror Market Concept: market repeats behavior over time) Fibonacci Supply Zones 📌 Conclusion: Watching closely for rejection in the Central Zone. If confirmed, bearish momentum could bring strong downside. If not, I’ll wait for the upper supply zone to trigger reversal.
TVC:GOLD
by smarthashmi21
Gold Price At Record High: Will The Yellow Metal Hit New Highs? The precious metals market is experiencing unprecedented excitement as gold prices soar to fresh record highs, captivating investors and analysts worldwide. With escalating trade tensions and a weakening dollar serving as primary catalysts, the yellow metal has demonstrated remarkable resilience and strength, prompting widespread speculation about whether this bullish momentum can sustain itself into the future. The Current Gold Rush: Understanding the Record-Breaking Performance Gold's recent surge to new all-time highs represents more than just a temporary market fluctuation; it signals a fundamental shift in global economic sentiment. The precious metal, long considered a safe-haven asset during times of uncertainty, has once again proven its worth as investors seek refuge from mounting geopolitical tensions and currency devaluation concerns. The current rally builds upon decades of gold's historical performance as a store of value, but the velocity and magnitude of recent gains have surprised even seasoned market veterans. Trading volumes have reached extraordinary levels as both institutional and retail investors scramble to secure positions in what many perceive as an increasingly valuable hedge against economic instability. Market dynamics have shifted dramatically as traditional investment paradigms face unprecedented challenges. The convergence of multiple economic factors has created what analysts describe as a "perfect storm" for gold appreciation, with technical indicators suggesting that the current momentum may have significant staying power. Trade Tensions: The Geopolitical Engine Behind Gold's Ascent Escalating trade tensions between major global economies have emerged as one of the most significant drivers of gold's recent performance. As diplomatic relationships strain and tariff wars intensify, investors are increasingly turning to gold as protection against the economic fallout from deteriorating international trade relationships. The ripple effects of trade disputes extend far beyond immediate market reactions, creating long-term uncertainty that fundamentally alters investment strategies. Supply chain disruptions, shifting manufacturing bases, and retaliatory measures between trading partners have introduced volatility into traditional asset classes, making gold's stability increasingly attractive. Historical precedent supports the correlation between trade tensions and gold appreciation. During previous periods of international economic conflict, gold has consistently outperformed other asset classes, serving as a reliable indicator of market stress. The current environment mirrors many characteristics of past trade disputes, but the scale and scope of contemporary tensions suggest potentially more sustained pressure on global markets. Corporate earnings have begun reflecting the impact of trade uncertainties, with many multinational companies reporting decreased profitability due to increased operational costs and market access restrictions. This corporate stress translates directly into equity market volatility, further reinforcing gold's appeal as a portfolio diversification tool. Dollar Weakness: Currency Dynamics Fueling Gold's Rise The weakening dollar has provided substantial tailwinds for gold's recent rally, as the inverse relationship between the world's primary reserve currency and precious metals continues to hold true. Dollar depreciation makes gold more affordable for international buyers while simultaneously reducing the opportunity cost of holding non-yielding assets. Federal Reserve monetary policy decisions have played a crucial role in dollar weakness, with accommodative policies designed to support economic growth having unintended consequences for currency strength. Lower interest rates reduce the attractiveness of dollar-denominated investments, prompting capital flows toward alternative stores of value like gold. International central banks have been notable participants in this shift, with many diversifying their foreign exchange reserves away from dollars and toward gold. This institutional buying provides a substantial floor for gold prices while signaling long-term confidence in the metal's value proposition. Currency market volatility has reached levels not seen since major financial crises, creating an environment where traditional hedging strategies prove inadequate. Gold's role as a currency hedge becomes particularly valuable during periods of extreme volatility, as it maintains purchasing power across different monetary systems. Expert Analysis: Professional Perspectives on Gold's Future Leading precious metals analysts remain cautiously optimistic about gold's prospects, though opinions vary regarding the sustainability of current price levels. Many experts point to fundamental supply and demand imbalances that could support higher prices over the medium to long term. Mining industry challenges have contributed to supply constraints that may persist for years. New gold discoveries have declined significantly, while existing mines face increasing production costs due to deeper extraction requirements and stricter environmental regulations. These supply-side factors create a foundation for price appreciation independent of demand fluctuations. Investment demand patterns have evolved substantially, with younger demographics showing increased interest in gold exposure through exchange-traded funds and digital platforms. This demographic shift suggests potential for sustained demand growth as these investors mature and accumulate wealth. Technical analysis reveals strong chart patterns that many experts interpret as indicative of continued upward momentum. Key resistance levels have been decisively broken, and momentum indicators suggest that the current rally may have significant room to run before encountering meaningful technical obstacles. Market Structure and Institutional Participation The composition of gold market participants has undergone significant transformation in recent years, with institutional investors playing an increasingly prominent role. Pension funds, endowments, and sovereign wealth funds have allocated substantial resources to gold exposure, providing stability and reducing volatility compared to retail-dominated markets. Derivatives markets have expanded dramatically, offering sophisticated investors numerous ways to gain gold exposure while managing risk. Options activity has reached record levels, with both speculative and hedging strategies contributing to increased market depth and liquidity. Exchange-traded funds focused on gold have experienced massive inflows, representing one of the most accessible ways for investors to participate in gold's appreciation. These vehicles have democratized gold investment while providing transparency and liquidity that traditional physical ownership cannot match. Central bank policies beyond the United States have also influenced gold markets, with European and Asian monetary authorities implementing strategies that indirectly support precious metals prices. Coordinated global monetary expansion has created conditions favorable to hard asset appreciation. Economic Fundamentals Supporting Gold Inflation expectations have begun rising in many developed economies, creating conditions historically favorable to gold appreciation. While inflation rates remain relatively subdued, forward-looking indicators suggest potential for significant price pressures in coming years. Debt levels across both public and private sectors have reached unprecedented heights, raising questions about long-term fiscal sustainability. Gold serves as a hedge against potential debt crises and currency devaluations that could result from unsustainable borrowing practices. Real interest rates, calculated as nominal rates minus inflation expectations, have turned negative in many jurisdictions. This environment reduces the opportunity cost of holding gold while making yield-bearing alternatives less attractive on an inflation-adjusted basis. Global economic growth concerns have intensified, with many indicators suggesting potential recession risks. Historical data demonstrates gold's tendency to outperform during economic downturns, making current positioning particularly attractive for risk-averse investors. Risks and Challenges Facing Gold's Bull Run Despite strong fundamentals supporting higher gold prices, several factors could potentially derail the current rally. Sudden improvements in trade relationships could reduce safe-haven demand, while unexpected dollar strength might pressure gold prices lower. Cryptocurrency adoption continues expanding, with some investors viewing digital assets as modern alternatives to traditional safe havens like gold. This technological disruption could potentially reduce gold's relevance for younger investors seeking portfolio diversification. Central bank policy reversals remain a constant threat to gold's momentum. Should major monetary authorities shift toward more hawkish policies, resulting interest rate increases could make yield-bearing assets more attractive relative to gold. Market positioning has become increasingly crowded, with speculative positions reaching levels that historically precede corrective pullbacks. While fundamentals remain supportive, technical factors suggest vulnerability to profit-taking activities. Looking Ahead: Future Prospects for Gold The convergence of multiple supportive factors suggests that gold's bull market may have significant longevity, though volatility should be expected along the way. Structural changes in global monetary systems, persistent geopolitical tensions, and evolving investor preferences all point toward sustained demand for precious metals exposure. Long-term demographic trends favor gold appreciation, as emerging market wealth accumulation traditionally includes substantial precious metals allocations. Growing middle classes in Asia and other developing regions represent vast potential demand that could support higher prices for decades. Environmental and social governance considerations are beginning to influence mining operations, potentially constraining future supply growth while supporting premium pricing for responsibly sourced gold. These factors add another dimension to gold's investment thesis beyond traditional monetary considerations. The yellow metal's record-breaking performance appears to reflect genuine fundamental changes rather than speculative excess, suggesting that new highs may indeed be achievable. While short-term volatility remains inevitable, the underlying conditions supporting gold's appreciation show little sign of abating, making a compelling case for continued strength in the precious metals complex. As global economic uncertainty persists and traditional investment paradigms face mounting challenges, gold's role as a portfolio cornerstone seems likely to expand rather than diminish, potentially driving prices to levels previously thought impossible.
OANDA:XAUUSDLong
by bryandowningqln
XAUUSD Gold Intraday Setup 02.09.2025Gold is currently trading at 3473, after hitting new ATH around 3508, now testing into a key demand zone. Price has shown a corrective move after the recent bullish impulse and is reacting from a consolidation order block. Key Levels: First buy zone: 3469–3473 → aligns with immediate demand and prior accumulation. Second buy zone (deeper retracement): 3449–3454 → lower demand zone + strong support base. Structure & Bias: Market structure remains bullish with higher highs and higher lows intact. Current pullback is corrective in nature, tapping into demand zones. Liquidity below minor lows (around 3470 and 3450) could be swept before a strong bullish continuation. Targets: First target: 3492 (recent high/intraday resistance). Second target: 3508 (swing high, liquidity pool). Trade Plan: Look for bullish confirmation (rejection wick, engulfing, or structure shift) in the 3469–3473 zone for a buy entry. If price breaks below decisively, next long entry should be considered from the 3449–3454 zone. Stop-loss ideally below 3460 for the first zone, and below 3435 for the second zone. 👉 In short: Bias is bullish; buy dips into 3469–73 or 3449–54, aiming for 3492 & 3508.
OANDA:XAUUSDLong
by QuinnReed_Charts
2
XAUUSD Breakout Alert: Bullish Rally in Motion with 3700+ TargetGold (XAUUSD) has finally broken out of a prolonged consolidation phase and is now showing a strong bullish structure on the daily chart. After several weeks of coiling between the support and resistance boundaries, this breakout marks a significant shift in momentum, indicating the potential for a powerful uptrend ahead. Multi-Month Range Breakout: The Structure So Far Over the past few months, Gold had been trading within a rising channel pattern. The support and resistance zones were clearly respected, forming a structure of higher lows and consistent rejections at the upper band near the 3450–3475 resistance zone. This area acted as a tough ceiling for bulls for nearly 4 months. The breakout candle above the resistance was not only strong in body size but also supported by volume and follow-through. Price decisively crossed 3480, retested the resistance-turned-support zone, and continued upward momentum. Target Projection: 3700+ Based on Measured Move The projected target for this breakout is calculated using the height of the channel, which spans approximately 250 points from base to resistance. Adding this height to the breakout point (around 3450) gives a final projected target near 3700+, aligning with Fibonacci extension levels and previous price projections. Immediate upside targets: T1: 3550 T2: 3620 Final Projection: 3700+ Retest Opportunity: Ideal Entry on Dip While momentum is strong, price may offer a pullback or retest toward the 3450–3470 zone before the next leg up. This area now acts as major support, and any dip here could offer a low-risk, high-reward long entry opportunity. Traders who missed the initial breakout can wait for price action confirmation in this zone before entering, with a stop-loss below the previous swing low. Risk Management & Strategy Entry Zone: On breakout retest near 3450–3470 Stop-Loss: Below 3425 (swing low / invalidation zone) Targets: Partial booking at 3550 & 3620; hold remainder for 3700+ Risk: As always, avoid aggressive sizing and maintain risk-reward discipline. False breakouts can occur if momentum fades.
TRADENATION:XAUUSDLong
by TradZoo
XAUUSD Buys at 3476 Now Perfect entry📍 XAUUSD Buy Alert – Sept 2, 2025 Gold just broke out above key resistance at $3,476, confirming bullish momentum. With Fed rate cut expectations and strong central bank demand backing the move, this entry looks 🔥 for short-term upside. Bias: Strong Buy Entry: $3,476 Target: $3,514 / $3,545 Support: $3,430 Note: Holding above $3,476 could trigger a run toward $3,700 in coming weeks. Perfect timing for momentum traders—ride the wave while it lasts.
FXOPEN:XAUUSDLong
by TradingHub_FX_crypto
XAUUSD Monthly Technical OutlookMarket Structure Overview: • The chart reveals consistent Breaks of Structure (BOS) to the upside, confirming a strong bullish market trend. • Price has successfully reclaimed and retested the strong resistance zone (~3390–3400), which now acts as new support. • A series of higher highs and higher lows show clear bullish intent, supported by sustained bullish momentum after each correction. ⸻ 📈 Volume & Price Action: • The Volume Profile (VRVP) on the left shows strong historical accumulation near the current breakout zone. • After the breakout from resistance, the price retested this zone—validating it as support—and is expected to continue its bullish leg toward $3,500, the next psychological and technical target. ⸻ 📍 Key Levels: • Support Zone: $3,375 – $3,390 (previous resistance turned support) • Immediate Resistance: $3,425 • Target Level: $3,500 (Monthly High Projection) ⸻ 📘 Educational Note: • This setup aligns with classic market structure theory: BOS + Retest + Continuation. • The pullback into the breakout zone is a textbook bullish continuation signal often used in institutional trading strategies. • Traders watching this pattern should combine it with confirmation entries such as bullish engulfing candles, FVGs, or order block rejections for safer entries. ⸻ 🎯 Projection: • As long as the price holds above $3,375, the bullish scenario toward $3,500 remains valid. • Expect possible consolidation or minor pullbacks before continuation. ⸻ 📌 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research before entering the market.
OANDA:XAUUSDLong
by Mentor_Michael03
3539, continue to increase in price⭐️GOLDEN INFORMATION: Gold (XAU/USD) extends its rally for a sixth straight session, hitting a new record high in Asia on Tuesday as expectations of a Fed rate cut, tariff uncertainty, and geopolitical tensions fuel safe-haven demand. However, the metal struggles to hold above the $3,500 mark amid a firmer Dollar and overbought conditions, with traders eyeing key U.S. data this week, including Friday’s Nonfarm Payrolls. ⭐️Personal comments NOVA: Gold price breaks old peak, market is fomo into next big price increase. Waiting for next ATH: 3539 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: 3539- 3541 SL 3546 TP1: $3530 TP2: $3520 TP3: $3510 🔥BUY GOLD zone: $3470-$3468 SL $3463 TP1: $3480 TP2: $3490 TP3: $3500 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account
OANDA:XAUUSDLong
by Nova-Scalper
1
The US Federal Reserve (FED) will cut interest rates in FUTUREThe decline in the value of the US dollar has created favorable conditions for gold prices to increase, as gold tends to move in the opposite direction to the US dollar. In addition, optimism that the Fed may ease monetary policy amid stable inflation has also contributed to the increase in gold prices. However, analysts warn that the gold market may face strong fluctuations in the next few days, when the US releases a series of important economic data, including: August Purchasing Managers' Index (PMI) from the Institute for Supply Management (ISM - US), August Employment Report and weekly unemployment claims data will be important indicators, directly affecting the Fed's interest rate policy decision. If the data shows weakness, gold prices may continue to increase sharply.
TVC:GOLDShort
by FalCol_TradingMaster
Interest rates will fall and gold prices will go up.Fed Chair Jerome Powell delivered a dovish speech at the Jackson Hole conference, saying he was no longer too tough on the 2% inflation target, but more concerned about the risk of a slowing economy and a weakening labor market. Economic data released over the weekend also reinforced this view. The US Commerce Department said the core PCE index, the Fed's preferred inflation gauge, rose 2.9% in the 12 months through July, in line with market expectations. “Gold is rising as the market starts to perceive the risk of high inflation coupled with weak growth,” In addition to economic factors, politics are also a significant catalyst for gold. Tensions between President Donald Trump and the Fed are undermining confidence in the USD.
OANDA:XAUUSDLong
by FalCol_TradingMaster
1
Gold Consolidates Below $3,500📊 Market Overview Gold trades near $3,487/oz, supported by Fed rate-cut bets and a weaker USD. Traders await this week’s NFP for clearer direction. 📉 Technical Analysis • Key resistance: $3,490–$3,500 • Nearest support: $3,465 • EMA 09: Price remains above EMA 09 → short-term uptrend still intact. • Momentum: High RSI, signaling risk of a short-term pullback. 📌 Outlook Gold remains in a short-term uptrend, but volatility around $3,490–3,500 will define the next move. 💡 Suggested Trading Strategy Base Scenario • 🔻 SELL XAU/USD at $3,490–$3,493 → TP $3,470, SL $3,496 • 🔺 BUY XAU/USD at $3,464–$3,467 → TP $3,485, SL $3,461
OANDA:XAUUSDLong
by Mian-FXSignals
Gold Reaches New High at 3,486 Amid Rising Rate-Cut Expectations📊 Market Overview: Gold surged to a new high at $3,486/oz, surpassing earlier levels around $3,470, driven by elevated expectations of a Fed interest rate cut this month. A weaker USD—amid dovish Fed comments and a court ruling limiting Trump-era tariffs—further underpinned gold’s appeal. 📉 Technical Analysis: • Key resistance: $3,490–$3,495 (psychological barrier before $3,500). • Nearest support: $3,460–$3,465 (EMA 09 + technical zone). • EMA 09: Gold is trading above EMA 09 → bullish momentum. • Candles / Volume / Momentum: Continuous rally with strong demand; however, a pullback is likely near resistance. 📌 Outlook: Gold may continue climbing in the short term if Fed cut expectations remain firm and USD stays weak. However, stronger US data (such as this week’s NFP) could dampen rate-cut bets and trigger a short-term correction. 💡 Suggested Trading Strategy 🔻 SELL XAU/USD : ~$3,492–$3,495 🎯 TP: 40/80/200 pips 🛑 SL: ~$3,498 🔺 BUY XAU/USD : ~$3,462–$3,465 🎯 TP: 40/80/200 pips 🛑 SL: ~$3,459
OANDA:XAUUSDLong
by Mian-FXSignals
Gold XAUUSD Intraday Analysis 01.09.2025Structure: Gold has broken upward impulsively, forming a higher-high structure, suggesting continuation toward 3500 and possibly 3525. The immediate support zones (3469–3472 and 3452–3455) are valid demand areas aligning with recent consolidation and order blocks. If price retraces into 3469–3472, a bullish rejection candle or structure shift on lower timeframes (5m/15m) would validate buys. If liquidity is swept below 3469, the deeper demand zone 3452–3455 offers a safer long entry with reduced downside risk. Upside targets remain: 3500 (first liquidity pool / round number resistance) 3525.00 (next extension target) Invalidation: A sustained close below 3450 would weaken the bullish setup and open room for further downside. Buying Idea 1: Entry: 3469–3472 Stop: Below 3460 Target 1: 3500 Target 2: 3525 Buying Idea 2 (safer but deeper): Entry: 3452–3455 Stop: Below 3440 Target 1: 3500 Target 2: 3525 Aggressive Continuation Buy: If gold breaks above 3490 with strong momentum and volume, consider chasing continuation toward 3500, but with tighter risk management.
OANDA:XAUUSDLong
by QuinnReed_Charts
Gold 01/09: FVG Retracement – Buy the Dip, Short 3515SMC Analysis for 01/09 Gold continues to maintain a bullish order flow after clear BOS and ChoCH confirmations. Price has created an FVG (Fair Value Gap) around 3463 and is currently moving toward the 3515 supply zone. ✅ BUY Scenarios • Buy Zone 1: 3418 – 3422 o Demand zone aligned with trendline + liquidity sweep. o SL 3410 o TP: 3430 – 3445 – 3455 – 3460+. • Buy Scalp Zone: 3352 – 3350 o Deep liquidity grab area for quick scalp. o SL 3344 o TP: 3360 – 3380 – 3400. 👉 All buy zones follow the dominant bullish structure. The best strategy is to wait for retracements to enter long. ❌ SELL Scenario • Sell Zone: 3515 – 3517 o H1 supply zone overlapping resistance. o SL 3522 o TP: 3500 – 3485 – 3475 – 3465 – 3450. 👉 Short trades are only for quick pullbacks. Larger bias remains bullish unless a strong bearish ChoCH develops. ________________________________________ 📌 Conclusion: • Main bias: Buy the dip at 3415–3422, 3442–3447, and scalp at 3352–3350. • Secondary play: Sell 3515–3520 back to demand. • Keep an eye on FVG 3463 as the key reaction level.
OANDA:XAUUSDLong
by Ryan_TitanTrader
Go long after gold fluctuates and pulls back#XAUUSD Against the backdrop of the "de-dollarization" trend, gold's position as the preferred safe-haven asset has gradually become more prominent.🌈 Influenced again by news this morning, gold retreated slightly before continuing its short-term bullish trend.📈 The current gold price is consolidating around 3375, with bulls dominating the day.📊 All short-term technical indicators are overbought, and there is a need for a technical correction. The short-term upward pressure is focused on the 3490-3500 range.🥅 However, it is worth noting that the U.S. market is closed today and there is a lack of sufficient capital flow during the NY session. ⚖️If the upper resistance cannot be effectively broken through in the Asian and European sessions, there is a possibility of a shock correction during the day.📉 It encountered resistance and pressure on the upper 3490-3500 level for the first time during the day. 📉You can consider shorting with a light position and wait for a pullback.🐻 Focus on the effectiveness of the support level of 3355-3345 below. You can go long if it retraces but does not break through.🐂 This week's data is relatively concentrated, and interest rate cuts may trigger unilateral market trends at any time. Independent traders must trade with caution, strictly follow the plan, and avoid the uncontrollable risks brought about by frequent trading.📰
OANDA:XAUUSDLong
by TP-Halson