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Goldprediction

Correction first and then rise during the day, TP3400Yesterday, gold hit the bottom near 3350 and then quickly rose to break the high. It fell back slightly in the evening and closed with volatility. The daily line closed with a long lower shadow bullish line. The short-term correction process has been completed, and there is still momentum for an upward impact. The overall structure is still a bullish trend. Focus on 3365-3355 below. As long as the bullish thinking above this level remains unchanged, any decline will provide an opportunity to enter the market. The target can be around yesterday's high of 3390. Once it breaks through 3390, the gold price is expected to reach 3405-3415. OANDA:XAUUSD
OANDA:XAUUSDLong
by HuntingWolves
Gold Bounces from PRZ — Is a Short-Term Rally Underway?Gold ( OANDA:XAUUSD ) started to rise from the Support zone($3,307-$3,275) as I expected in the previous idea . Gold is currently moving near the Support zone($3,350-$3,326) , Potential Reversal Zone(PRZ) , and $3,334 (Important price) . From the Elliott wave theory , it seems that Gold has completed its 5 impulsive waves and now we should wait for corrective waves . Corrective waves can complete at the Potential Reversal Zone(PRZ) . I expect Gold to rise to $3,383(at least) in the coming hours . Second Target: $3,396 Note: Stop Loss (SL) = $3,321 Gold Analyze (XAUUSD), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅ ' like ' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDLong
by pejman_zwin
30
The shot at the critical moment is the real trading opportunityGold bottomed out and rebounded yesterday, breaking the high slightly to touch 3390 before falling back. The daily line closed with a small bullish cross overnight, and the upward momentum has slowed down. Today it tends to fluctuate at a high level. In the 4H cycle, the Bollinger band is closing, and the overall bulls continue to run upward. The big positive line directly pulls up, which is relatively strong. The overall market is resistant to declines. Therefore, the big cycle does not expect a big drop for the time being, but the short-term trend fails to continue further. It is safe to maintain a pullback and go long. Pay attention to the support below 3365-3350. Go long after it stabilizes. First look at yesterday's high of 3390. If it breaks, there is a probability of going to 3400 or even around 3415, but be careful of a high rush and fall.
OANDA:XAUUSDLong
by Trade-Daniel
XAU/USD Intraday Plan | Support & Resistance to WatchGold is holding above the $3,369 level after rejecting from the $3,387 resistance zone. Price action remains bullish for now, with structure supported by the rising 50MA, which is acting as dynamic support. To extend higher, bulls need a clean break and hold above $3,387, which would open the path toward $3,422 next. If price fails to hold above $3,369, we could see a pullback into the $3,358–$3,344 zone, which remains the first key support. Below that, the next area of interest is the Pullback Zone at $3,329–$3,313 — a former resistance turned support, and a likely area for dip-buying interest. A break below that would shift focus to the Secondary Support Zone at $3,295–$3,281, where price last launched its breakout. 📌 Key Levels to Watch Resistance: ‣ $3,387 ‣ $3,422 Support: ‣ $3,369 ‣ $3,358‣ $3,344‣ $3,329–$3,313‣ $3,295–$3,281 🔎Fundamental Focus: No high-impact data today, but markets may remain reactive.
OANDA:XAUUSD
by azgoldtrader
Gold is waiting to break through near the dense pressure rangeGold (XAU/USD) prices fell slightly during Wednesday's Asian trading session, retreating to around $3,370, snapping a four-day winning streak. Previously, gold prices had hit a nearly two-week high on Tuesday. Gold's recent rally was driven by the Federal Reserve's policy outlook and safe-haven flows, but a recent shift in market sentiment toward optimism and a slight rebound in the US dollar index have put downward pressure on gold prices. Risk assets generally rose, including a rebound in Nasdaq futures, temporarily cooling demand for safe-haven assets. Furthermore, the dollar's slight rebound also put pressure on non-interest-bearing gold. Weak US data heightened economic concerns, supporting expectations of a rate cut this year. Last Friday's weaker-than-expected US non-farm payroll data, coupled with Tuesday's release of the July ISM Services PMI, which fell to a multi-month low of 50.1, have fueled market concerns about the US economic outlook. "Both the weak employment index and new orders suggest weakening momentum in the services sector, further strengthening the likelihood of a September rate cut by the Federal Reserve," analysts noted. The market currently expects the Federal Reserve to implement a 25 basis point interest rate cut at its September policy meeting, with the possibility of a total rate cut exceeding 50 basis points this year. While this expectation has dampened dollar bullish sentiment and provided support for gold, the optimistic stock market sentiment has weakened gold's appeal as a safe-haven asset. In trade-related news, the US President announced a new round of tariffs on imported semiconductors and pharmaceuticals, accelerating the pace of tariffs on areas such as automobiles, steel, and aluminum. This move has heightened market concerns about global supply chain risks, maintaining cautious investor sentiment and potentially providing safe-haven support for gold in the medium term. From a technical perspective, gold prices encountered clear resistance before reaching the $3,400 mark and failed to break through, shifting into a short-term consolidation pattern. The 4-hour chart shows that gold found support at the 100-period simple moving average (around $3,350) and rebounded, indicating that bulls are still trying to maintain the initiative. "Currently, hourly and daily oscillators remain positive, but if gold fails to hold above $3,400, it is likely to remain volatile in the short term," market participants noted. Upward resistance lies at the key resistance zones of $3,400 and $3,430, respectively. A break above this would open an upward trend, targeting the all-time high of $3,500 reached in April. Initial support lies at $3,350. A break below this would target the intermediate support of $3,322 and the $3,300 mark. A further break below this level could test the one-month low of $3,268. Although gold prices are currently under short-term pressure, they remain supported in the medium term amidst a slowing US economy, rising expectations of interest rate cuts, and ongoing potential trade frictions. In the short term, the price is expected to fluctuate around the $3,400 level. Focus on speeches by Federal Reserve officials and next week's US CPI data, which may provide new direction for gold. OANDA:XAUUSD VELOCITY:GOLD EIGHTCAP:XAUUSD CMCMARKETS:GOLD PYTH:XAUUSD ACTIVTRADES:GOLD FX:XAUUSD
OANDA:XAUUSD
by Charlie_Senior_Analyst
Gold surges! Gold prices rise for four consecutive days!Market News: Spot gold prices fluctuated narrowly in early Asian trading on Wednesday (August 6), currently trading around $3,380 per ounce. London gold prices continued their upward trend on Tuesday, with international gold prices continuing to rise, reaching a near two-week high. This marked four consecutive days of gains, demonstrating strong upward momentum. Amid rising market expectations for a Federal Reserve rate cut and Trump's upcoming announcement of key Fed appointments, gold's safe-haven and policy-sensitive properties have resurfaced, making it a prime target for capital inflows. The core logic behind gold's current rally remains centered around expectations of a shift in the Federal Reserve's monetary policy. Traders generally expect two rate cuts this year, with the first likely to occur in September. Several regional Federal Reserve chairmen have also signaled dovish sentiment, boosting gold prices. Furthermore, stable US Treasury yields and a weaker US dollar index have also bolstered gold's gains. Amidst weakening economic data, a shift in Federal Reserve policy, geopolitical tensions, and government intervention, gold has once again taken center stage in investors' attention. Whether it's short-term expectations of interest rate cuts, uncertainty surrounding the Fed's personnel, or the combined effects of medium- to long-term debt, policy, and global uncertainty, gold's dual attributes of "hedge and safe haven" continue to strengthen. Closely monitor expected changes in CPI data, progress in trade negotiations, and Fed appointments, and pay attention to speeches by Fed officials! Technical Analysis: Gold's technical outlook remains positive on both the daily and weekly charts, with consecutive daily gains. The price is trading within the upper middle Bollinger Band, with the 10-day and 7-day moving averages forming a golden cross. The RSI is trading above its mid-axis, and the MACD momentum bar is showing strong volume above its zero axis. On the short-term four-hour and hourly charts, the price is trading within the upper middle Bollinger Band, with the moving averages forming a golden cross and the RSI pointing upwards. The trading strategy remains unchanged: buy low on pullbacks, with selling high as a secondary strategy. Gold fell before rising yesterday, breaking through the intraday high during the US trading session and rising as high as 3390, closing with a doji with upper and lower shadows. As expected in the early review, the current trend shows no change in the buying trend, with the moving averages in a buying pattern. However, the four-hour chart is approaching the acceleration line, creating downward pressure. Therefore, it is in a short-term buying risk zone, and buying at high levels is no longer advisable! The hourly chart is flat, closing below the upper line. Although it hasn't broken below the moving average, the indicator has turned. Today's forecast is a repeat of yesterday's, with a correction followed by an upward trend. Therefore, the overall outlook is for a correction followed by continued upward movement! Trading strategy: Short-term gold: Buy at 3357-3360, stop loss at 3349, target at 3380-3400; Short-term gold: Sell at 3390-3393, stop loss at 3402, target at 3360-3350; Key points: First support level: 3370, second support level: 3362, third support level: 3350 First resistance level: 3390, second resistance level: 3398, third resistance level: 3408
OANDA:XAUUSDLong
by NicolaZhu
XAU/USD(20250806) Today's AnalysisMarket News: The US non-manufacturing PMI fell to 50.1 in July from 50.8 in June, below the expected 51.5. The ISM New Orders Index fell to 50.3 in July from 51.3 in June, with export orders contracting for the fourth time in five months. Technical Analysis: Today's Buy/Sell Levels: 3373 Support and Resistance Levels: 3413 3398 3389 3358 3348 3333 Trading Strategy: If the market breaks above 3389, consider entering a buy position, with the first target at 3398. If the market breaks below 3373, consider entering a sell position, with the first target at 3358.
OANDA:XAUUSDLong
by NicolaZhu
Gold rebounded near the key support level of $3,350.Spot gold edged higher during the US trading session after finding strong support near $3,350, reversing an earlier pullback. During the European trading session, gold prices briefly dipped due to improved risk appetite and a slight rise in US Treasury yields, failing to extend Monday's rebound. However, buyers stepped in near the 50-day simple moving average (SMA), pushing prices back from the day's low. The continued weakness of the US dollar, fueled by market confidence in a September Federal Reserve rate cut, supported gold's rebound. Spot gold struggled to extend last week's rebound and is currently hovering around $3,350. Last week, gold broke below an ascending triangle pattern, briefly hitting a one-month low, before finding support above the 100-day simple moving average (SMA), suggesting continued bearishness. Currently, gold is trading slightly above the 50-day SMA, providing immediate support, followed by the 100-day SMA. Further declines could lead to targets near $3,275 and $3,200. The Relative Strength Index (RSI) on the daily chart is in neutral territory around 55, indicating a lack of clear momentum. Meanwhile, the MACD indicator shows a golden cross with the DIFF crossing the DEA, and the MACD-histogram is positive, indicating accumulating bullish momentum. However, the overall reading is low, and further upward momentum is needed. A sustained golden cross and a larger candlestick pattern would be bullish. On the upside, if bulls can reclaim the bottom of the broken triangle and decisively push above $3,380, the market could potentially move towards $3,450, or even revisit the all-time high. PEPPERSTONE:XAUUSD VELOCITY:GOLD FXOPEN:XAUUSD CMCMARKETS:GOLD VANTAGE:XAUUSD ACTIVTRADES:GOLD ACTIVTRADES:GOLD ICMARKETS:XAUUSD
OANDA:XAUUSD
by Charlie_Senior_Analyst
XAUUSD 4H – Massive Sell Setup: Gold Crash Incoming? Gold (XAUUSD) just tapped into a key liquidity zone near the 38.2% Fibonacci retracement at $3,364, followed by a sharp rejection. This aligns with the upper channel resistance and a bearish confluence from previous supply zones. Price has failed to break above the dynamic EMA cluster and is showing signs of exhaustion after a relief rally. If momentum follows through, this could mark the beginning of a deeper selloff targeting major downside levels. Short Setup Entry: Around $3,349–$3,364 (rejection zone) SL: Above $3,379 🚨Strong bearish engulfing candle confirms seller pressure 🎯 Take Profit Targets (Fibonacci): TP1: $3,305 (38.2%) TP2: $3,275 (61.8%) TP3: $3,241 (Full move – 100% Fibonacci extension) This setup offers high risk-reward if the rejection holds and price breaks below the mid-zone structure at $3,330. A drop below $3,305 could accelerate the move as liquidity gets swept.
OANDA:XAUUSDShort
by VisionaryInsights
GOLD ROUTE MAP UPDATEHey Everyone, Another PIPTASTIC day on the charts!!! After completing our Bullish target 3370 yesterday, we stated that we are now waiting for ema5 lock to confirm gap to 3392. We got the ema5 lock above 3370 opening 3392. A nice drop into the lower zone just above our bearish gap allowed us to buy dips inline with our plans. We got the push up all the way into 3390 just short of 3392 gap, so this remains open. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 20 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. The swing range give bigger bounces then our weighted levels that's the difference between weighted levels and swing ranges. BULLISH TARGET 3370 - DONE EMA5 CROSS AND LOCK ABOVE 3370 WILL OPEN THE FOLLOWING BULLISH TARGETS 3392 EMA5 CROSS AND LOCK ABOVE 3392 WILL OPEN THE FOLLOWING BULLISH TARGET 3416 EMA5 CROSS AND LOCK ABOVE 3416 WILL OPEN THE FOLLOWING BULLISH TARGET 3429 EMA5 CROSS AND LOCK ABOVE 3429 WILL OPEN THE FOLLOWING BULLISH TARGET 3439 BEARISH TARGETS 3348 EMA5 CROSS AND LOCK BELOW 3348 WILL OPEN THE FOLLOWING BEARISH TARGET 3328 EMA5 CROSS AND LOCK BELOW 3328 WILL OPEN THE FOLLOWING BEARISH TARGET 3313 EMA5 CROSS AND LOCK BELOW 3313 WILL OPEN THE SWING RANGE 3296 3281 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
13
Next Stop 3420? Gold Bulls Push the LimitBecause the U.S. non-farm payroll report performed worse than expected, gold rebounded strongly last Friday and recovered half of its losses in one fell swoop. The bulls returned strongly. Today, after consolidating at a high level, gold continued to choose to break upward, reaching a high of around 3385. There is no doubt that bullish forces still hold the upper hand. From a fundamental perspective, the Federal Reserve is currently facing greater pressure to cut interest rates; and it can also be clearly seen from the candlestick chart that a significant "W"-shaped double bottom structure has been constructed near 3268 and 3280, which has limited the gold's retracement space while also playing a key structural support role in the rise of gold. With the combined effects of news and technical factors, gold still has the potential to continue its upward trend. And I think there is still a great possibility that gold will test the 3400 mark again. Once gold stabilizes at 3400, it will definitely hit the 3420-3430 area. As the center of gravity of gold gradually shifts upward, the lower support area also moves up. The current short-term support is obviously in the 3365-3355 area, while the relatively strong support is in the 3345-3335 area. According to the current pattern structure, the bulls may not allow gold to retreat to the 3345-3335 area. So in terms of short-term trading, we first consider the opportunity to enter long positions in the 3365-3355 area!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
2
Wait for a pullback and then test the previous high#XAUUSD The gold market closed positively on the daily chart, with strong support near 3345-3340 below. The market trend is still dominated by bulls,🐂 but the daily moving average support is too far from the high point. It is not ruled out that it may retreat to the moving average support near 3345-3340,📊 and then rise again.🚀 From the monthly chart, 🌙although the monthly chart closed positive, the market is generally converging at a high level. Upper resistance remains, and a breakout is unlikely without breaking through this resistance level (no further discussion will be given).📉 Judging from the weekly chart, the Bollinger Bands have shrunk, and the MACD indicator has formed a death cross with large volume, indicating weak fluctuations at the weekly level.😩 Judging from the daily chart, 📊the current technical indicators are tending to the zero axis, and the rapid upward correction of the smart indicator indicates that the price fluctuation tends to rebound. The current focus is on yesterday's high around 3385. It is expected to break through 3430. The lower support Bollinger band middle track and moving average tend to stick together around 3346-3340.🌈 Judging from the hourly chart and 4H chart, 📊the overall rhythm tends to fluctuate and fall. The short-term pressure from above is around 3375-3385, and a break above will definitely lead to an increase.📈 On the whole, pay attention to yesterday's NY starting point near 3365-3360, and the strong support below is 3346-3340. The hourly and 4H charts tend to fluctuate and fall, so for short-term trading we need to short on rallies. 📉 Intraday trading suggestions are as follows: 1. Consider going long currently around 3365-3360📈, targeting 3374-3380🎯. If it breaks through, look for 3400. 2. Go long if it retraces below 3355-3340, targeting 3375-3385. Wait for further adjustments.🐂 3. If the price first reaches the resistance level of 3375-3385 and holds, consider going short with a small position and anticipate a pullback towards 3365-3355.🐻
OANDA:XAUUSDLong
by Halson_Winston
4
GOLD (XAU) SHORT - Double top 30minRisk/reward = 2.8 Entry price = 3382.5 Stop loss price = 3390.5 Take profit level 1 (50%) = 3361.7 Take profit level 2 (50%) = 3356 I am considering a short on gold. Still need some variables to fall into place before I enter the trade. There is nice RSI negative divergence showing declining momentum. Further confluence: - Potential head and shoulders on higher time frame - At area of previous diagonal support which could be turned into resistance if the 30min double top plays out
PEPPERSTONE:XAUUSDShort
by GTradingMethod
Gold Eyes QML Resistance: Ready for a PullbackHelloooo! Gold, after gapping up strongly, has now entered the green QML (Quasimodo Level) supply zone at roughly 3,380–3,390. This zone has acted as resistance before, so a reaction here makes perfect sense. What I see: Engulfed Level (3,315.66): Earlier support that got taken out. This is our logical pullback target once the QML zone does its job. Hurricane Move: The big up-spike looks exhausted now that it’s hit the QML. Bearish Reversal Odds: if sellers step in around current levels, expect a drop back toward 3,315. Plan: Watch for bearish candles or a failed rally inside the 3,380–3,390 area. If we see clear rejection, target a swift move down to 3,315, with a further slide possible to the 3,260 demand zone if momentum holds.
OANDA:XAUUSD
by melikatrader94
26
Gold Price ActionHello Traders, Hope you're all doing well. Here's the current setup I’m observing — and most importantly, remember to wait for the right moment. As marked, there’s a clear supply zone, and price action is expected to move towards it. For entering a long position, there are a few approaches you can take: Use the 50% level of the Fair Value Gap (FVG) Look for breaker blocks Identify order blocks The method you choose should depend on current market conditions and price movement. Once you spot the setup, aim for the top supply zone — that’s where the price is likely headed. Patience is key to catching the right entry. If you need assistance, my indicator can help pinpoint the move — but if you’re confident in your analysis, you may not need it. Wishing you all the best and happy trading!
PEPPERSTONE:XAUUSDLong
by SuvashishFx
Can technical factors boost gold? (Must-read for traders)After three consecutive days of strong rebounds, spot gold has entered a period of sideways trading, trading around $3,370 in the European session, with a short-term seesaw pattern. A slight rebound in the US dollar index has weighed on gold prices, but market expectations of a September Fed rate cut remain supportive. Furthermore, lingering global trade uncertainty has prevented a significant decline in safe-haven demand. Fundamentals: Gold's recent upward momentum has been driven by weak US economic data and rising expectations of rate cuts. Last week's non-farm payroll data showed a significant weakening in the labor market, reinforcing market bets that the Fed will begin another round of rate cuts in September. The CME FedWatch tool shows that the market's expectation of a September rate cut has exceeded 90%. Meanwhile, US factory orders plummeted 4.8% in June, further highlighting economic weakness. On the other hand, US President Trump signed an executive order last week raising tariffs on imports from dozens of countries, with the minimum tariff rate reaching 15% for countries with trade deficits with the US. With these measures about to take effect, this uncertainty continues to weigh on global market sentiment and supports gold's safe-haven properties. However, a slight rebound in the US dollar partially offset gold's upward momentum. Traders will be watching the upcoming US ISM Services PMI data to determine whether the economic slowdown has spread to the services sector. Technical Analysis: On the daily chart, gold prices have recently traded between the middle and upper Bollinger Bands (3343.59) and 3411.09, failing to break through key resistance. The overall trend remains within the medium-term range, with no clear trend emerging. The recent candlestick chart pattern forms a typical "sideways fluctuation" pattern, indicating significant pressure near the previous high of 3438.80, while the lower Bollinger Band (3276.09) provides support, suggesting a short-term "box consolidation" pattern. On the MACD indicator, the fast and slow lines are near the zero axis, while the DIFF and DEA lines have formed a slight golden cross, but the angle is gentle. The red bar has limited momentum, indicating insufficient upward momentum and a lack of a strong rebound. The Relative Strength Index (RSI) remained at 54.81, within the neutral to strong range, indicating a lack of clear short-term price direction. Market sentiment remains cautious. Further attention will be paid to whether the price stabilizes above the middle Bollinger Band or retreats to test previous support levels. Market Sentiment Observation: Current gold market sentiment is cautiously optimistic. Traders are pricing in a high level of interest in the Federal Reserve's rate cut, driving a short-term rebound in gold prices. However, the dollar's resilience remains, limiting gold's upside potential. Indicators show a lack of significant inflows into gold ETFs, suggesting the market has not yet fully shifted to a defensive position. The technical chart shows a typical "consolidation platform," indicating that the market is awaiting clearer policy or data guidance. Investors remain interested in safe-haven assets, but their willingness to chase higher prices is weak. In the short term, market sentiment may continue to be constrained by fluctuations in external macroeconomic data and shifting policy expectations. Market Outlook: Bull Perspective: Analysts believe that if gold prices break through the upper Bollinger Band at 3411.09 and the MACD indicator expands, further upside potential is expected, with the previous high of $3450 in sight. If the Federal Reserve signals a clear interest rate cut or if the US economy continues to weaken, gold could see a mid-term trend reversal and resume its upward trend. Bear Perspective: Analysts believe that if gold prices remain constrained in the 3400-3411 range and fall below the middle Bollinger Band and moving average support, a short-term pullback could occur, testing the lower support band at $3276. If the ISM Services PMI exceeds expectations and the US dollar strengthens again, gold could return to bearish momentum. FOREXCOM:XAUUSD ACTIVTRADES:GOLD ICMARKETS:XAUUSD CMCMARKETS:GOLD PYTH:XAUUSD FOREXCOM:GOLD ICMARKETS:XAUUSD CMCMARKETS:GOLDZ2025 CMCMARKETS:GOLD
OANDA:XAUUSD
by Charlie_Senior_Analyst
XAU/USD) Bearish Trend Read The captionSMC Trading point update Technical analysis of Gold (XAU/USD) on the 1-hour timeframe, suggesting a potential short-term sell setup targeting a key support zone. --- Analysis Summary Asset: XAU/USD (Gold Spot) Timeframe: 1H Current Price: 3,371.56 Bias: Bearish pullback toward lower support --- Key Technical Insights 1. FVG (Fair Value Gap): Price tapped into a premium supply zone / FVG (highlighted in yellow at the top), showing rejection. This zone likely acted as a liquidity grab, triggering potential reversal. 2. Structure Shift (SS): Minor bullish market structure appears to be breaking down, signaling a shift in momentum. 3. Target Point: Price is expected to revisit the support zone at 3,330.77, where prior accumulation and a bullish order block exist. This also aligns with the 200 EMA around 3,340.48, adding confluence. 4. RSI (14): RSI is currently at 54.86, indicating neutral momentum with room for downside. --- Target Point Target Zone: 3,330.77 (Key support and potential long re-entry area) --- Trade Idea Direction Entry Zone Stop-Loss Target Sell 3,370–3,375 Above 3,390 3,330 Mr SMC Trading point --- Summary Gold is showing signs of short-term exhaustion after filling the FVG zone and is likely to pull back toward the 3,330 support area, making it a potential intraday short opportunity. The structure break, EMA, and RSI support this retracement. Please support boost 🚀 this analysis)
CAPITALCOM:GOLDShort
by SMC-Trading-Point
Gold Consolidates at the Top, Bearish Reversal Ahead?On the 15-minute chart, XAUUSD is showing signs of exhaustion after a strong bullish impulse. Price is currently consolidating around the 3,370–3,375 resistance area, failing to make a clean breakout. Volume is fading, suggesting buyer momentum is weakening. Technical Breakdown: 1. Market Structure: Since late July, the market has formed a clear uptrend with higher highs and higher lows. However, recent price action is showing indecision at the top, with multiple rejection wicks – indicating a potential short-term distribution phase. 2. Price Action & Supply-Demand Zones: Demand Zone 1: Around 3,310–3,320 acted as the launchpad for the strong bullish breakout on August 2. Demand Zone 2: Around 3,345–3,350 provided support for the next leg up. Current Supply Zone: Between 3,375–3,380 – multiple rejections have been observed here. 3. Indicators Overview: EMA20 & EMA50 (not shown but inferred): Upward sloping, but starting to flatten – signaling potential consolidation or bearish divergence. RSI (likely above 70 earlier): Now showing signs of bearish divergence, supporting a possible short-term correction. 4. Fibonacci Retracement Analysis: From the recent bullish swing (3,310 → 3,375), key retracement levels are: 0.382 → ~3,350 0.5 → ~3,342 0.618 → ~3,334 This confluence around the 3,334–3,342 range makes it a critical zone for a potential bullish bounce. Suggested Trading Strategies Scenario 1 – Scalping the Rejection (Counter-trend short): Entry: SELL limit at 3,375–3,380 Stop Loss: 3,386 Take Profits: TP1: 3,350 (Fibonacci 0.382) TP2: 3,335 (Fibonacci 0.618 + previous support) Scenario 2 – Trend Confirmation (Breakdown Play): Setup: Sell if price breaks below 3,350 with volume confirmation. Target Zones: Initial target: 3,310 (prior demand zone) Extended target: 3,280–3,265 (possible Wyckoff distribution breakdown) Key Levels to Watch: Significance: 3,380 - Resistance - Short-term supply zone 3,350: Support - Key Fibonacci 0.382 level 3,334: Support - Strong confluence zone (Fibo + demand) 3,310: Support - Bullish breakout base Conclusion: Gold is currently in a vulnerable position with signs of bullish exhaustion. Traders should stay patient and wait for confirmation before entering. Watch the 3,350–3,334 zone for reaction – it will likely decide the next directional move. If you found this analysis helpful, make sure to follow for more updated strategies and save this post for future reference.
FX:XAUUSD
by Henrybillion
1
Gold rises for three consecutive days! Buy the dip or hold on?Market News: Spot gold prices fluctuated at high levels in early Asian trading on Tuesday (August 5), currently trading around $3,380 per ounce. Driven by weak US economic data, rising expectations of a Federal Reserve rate cut, and intensifying global trade tensions, international gold prices continued their upward trend from last Friday, marking their third consecutive day of gains. Driven by expectations of a Fed rate cut, geopolitical risks, and a weakening US dollar, gold maintains strong upward momentum in the short term. From a medium- to long-term perspective, gold's investment value remains significant. Global economic uncertainty, ongoing trade conflicts, and the potential resurgence of inflationary pressures all provide solid support for gold. Investors should pay close attention to the US June trade balance and July ISM non-manufacturing PMI data, which will be released this trading day. Technical Analysis: Last week, gold closed with a long lower shadow, a bullish candlestick pattern. This is a clear sign of stabilization, and the price remains firmly within the middle band. This week, the upward trend may continue, with repeated attempts to test the resistance point derived from the lower band of the previous upward trend. This maintains a bullish outlook for the medium- to long-term trend, and represents a period of strength within this bullish trend. The daily short-term trend also remains bullish. The recent three-month consolidation period is a correction, with the lows gradually moving higher. The longer the sideways trend, the stronger the potential for a bull market continuation, both in terms of strength and timing, once it breaks higher. Last Friday, a strong bullish candlestick pattern formed at the bottom, stabilizing the 5-day moving average and returning to the converging triangle channel. This suggests a continued bullish outlook today. A pullback confirms support at the lower band of the converging triangle, approximately 3345-48, also the 10-day moving average. After testing support in today's Asian session, support is indeed present. Focus on the upper band around 3410. Trading strategy: Short-term gold: Buy at 3362-3365, stop loss at 3354, target at 3380-3400; Short-term gold: Sell at 3407-3410, stop loss at 3419, target at 3370-3350; Key points: First support level: 3370, second support level: 3363, third support level: 3350 First resistance level: 3397, second resistance level: 3410, third resistance level: 3422
OANDA:XAUUSDLong
by NicolaZhu