GOLD LOCAL BULLISH BIAS|LONG|
✅GOLD is set to retest a
Strong key support level below at 3000$
After trading in a local downtrend from some time
Which makes a bullish rebound a likely scenario
With the target being a local resistance above at 3024$
LONG🚀
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J-XAU
Could the price drop from here?The Gold (XAU/USD) has reacted off the pivot and could drop to the pullback support.
Pivot: 3,052.78
1st Support: 3,020.46
1st Resistance: 3,059.37
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GOLD in coming days...The price, as we expected, grew to the (ab=cd) extent after breaking out of this cup-and-handle pattern, and now, technically speaking, it needs some correction, which depends on the level of tensions.
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Why gold may—or may not—reach $3,060 next Gold is now up 15.57% in 2025 after gaining 27.2% in 2024.
If the current momentum continues, traders may target the upper parallel trendline near $3,060 and rising.
Safe-haven demand is a key driver of this rally, but what could disrupt it?
For one, U.S. President Donald Trump and Russian President Vladimir Putin spoke for 90 minutes today, agreeing on steps toward a peace deal in Ukraine, including a pause on attacks on energy infrastructure. However, Putin declined to accept a broader 30-day ceasefire proposed by U.S. and Ukrainian officials.
Gold's Battle for $3,000Gold is currently trading at $2,996 per ounce, sitting in a phase of consolidation after recently touching the big $3,000 level. Over the last few sessions, the price has been bouncing between $2,985 and $3,005, showing that traders aren’t quite sure which way it’ll go next. This comes after an impressive rally where gold broke past $3,000 for the first time ever, fueled by trade tensions and talk of U.S. interest rate cuts making it a go-to safe-haven asset. But since it couldn’t hold above that milestone, the market seems to be taking a breather, waiting for something new, like economic news or global events, to push it one way or the other.
Technical Levels and Indicators
Looking at the 1-hour chart, gold is testing the upper edge of a descending channel, a pattern where the price has been making lower highs since its recent peak. Right now, it’s just below a key resistance at $3,000, which has been tough to crack, while $2,980 acts as a solid support level where buyers have stepped in before. The Relative Strength Index (RSI) is around 55, meaning momentum is neutral, not too hot or too cold. Meanwhile, the Moving Average Convergence Divergence (MACD) is showing a slight bullish signal, hinting that an upward move could be on the cards. Keep an eye out: a strong break above $3,005 could spark more buying, but a dip below $2,980 might mean a pullback is coming.
Market Sentiment and Fundamentals
Traders seem split on gold right now. Some are optimistic, pointing to ongoing global risks and central banks leaning toward looser policies, which could lift prices higher. Others are cautious after gold failed to stay above $3,000, with chatter on platforms suggesting a possible drop to $2,950 or even a bounce around $2,993 where big orders might be sitting. On the fundamental side, gold’s strength as a safe-haven shines when the economy feels shaky or inflation worries heat up. But watch out, a stronger U.S. dollar or hints of rising interest rates could put the brakes on gains. The next big economic report or geopolitical headline could be the trigger that decides gold’s next move.
Head & Shoulders Pattern Forming? 📊 GOLD (XAU/USD) 1H Timeframe Analysis – Head & Shoulders Pattern Forming? 🚀
📉 Gold is forming a possible Head & Shoulders pattern on the 1-hour chart.
🔄 Key Levels & Scenarios:
✅ Bearish Scenario: If the price breaks below the blue support zone, the next targets will be at the green line levels.
✅ Invalidation: If the price moves above the right shoulder, the bearish structure is invalidated, and we could see a bullish continuation.
📌 Watch for a confirmed breakout before taking a position!
Bullish continuation?XAU/USD is falling towards the support level which is a pullback support that is slightly below the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 2,952.19
Why we like it:
There rise a pullback support level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 2,925.66
Why we like it:
There is a pullback support level that lines up with the 61.8% Fibonacci retracement.
Take profit: 3,000.05
Why we like it:
There is a pullback resistance level.
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XAUUSD GOLD Market Analysis & ForecastCurrent Market Condition
Gold (XAU/USD) is currently in a consolidation phase, trading within a range between $2930 and $2891. At present, the price stands at $2909.50, indicating that the market is indecisive and awaiting a breakout.
On the Daily (D1) timeframe, XAU/USD has broken the previous uptrend, signaling a potential shift in momentum. The current price action suggests that the market is undergoing a retracement phase, and a deeper correction may be expected.
Bearish Scenario: Downside Breakout Expected
The $2930 resistance level has been tested multiple times, with strong rejection, confirming the presence of strong sellers in the market.
If XAU/USD fails to regain strength above $2930, it is likely to break the key support level at $2891 and continue its downward move.
Once $2891 is broken, further downside targets are:
Target 01: $2859
Target 02: $2834
These levels align with historical support zones and Fibonacci retracement levels, further supporting the bearish outlook.
Bullish Scenario: Breakout Above $2930
If XAU/USD gains bullish momentum and breaks above the $2930 level, buyers will take control, and the price may rally further.
The immediate upside targets in this scenario are:
Target 01: $2956
Target 02: $2980
Additionally, market sentiment remains highly bullish in the long term, with expectations that gold could test its all-time high of $3000.
Market Sentiment & Conclusion
The current sentiment in XAU/USD suggests a higher probability of downside movement, as long as the price remains below $2930. However, a breakout above this level will shift the momentum in favor of buyers, targeting new highs. Traders should monitor key levels closely and watch for confirmation before entering trades.
📌 Key Levels to Watch:
🔻 Support: $2891, $2859, $2834
🔺 Resistance: $2930, $2956, $2980, $3000
BTC & GOLD (XAU) CorrelationWith this idea I am not trying to prove anything.
Recently I bumped into the idea about Bitcoin and Precious metals correlation and BTC/GOLD looks interesting.
Topic is open for discussions, what you think ? Do we still have a room for further price surge in terms of Bitcoin ?
Please share your ideas in comments.
Good Luck everyone on this choppy market.
Bearish drop?The Gold (XAU/USD) is reacting off the pivot and could drop to the 1st support which is a pullback support.
Pivot: 2,990.27
1st Support: 2,955.64
1st Resistance: 3,004.91
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Gold surges, just $17 away from $3,000 Gold is sprinting to new all-time highs and approaching the $3000 level. The price has just reached $2983 at the time of writing, just $17 away from the key $3000 level.
Alex Ebkarian from Allegiance Gold forecasts “prices to trade between $3,000 and $3,200 this year,”.
Momentum is currently being driven by uncertainty around Trump tariffs and stalled ceasefire talks with Vladimir Putin, who has outlined sweeping conditions for any potential truce.
The upcoming Federal Reserve meeting next Wednesday could also be influencing prices. While the central bank is expected to keep its rate at 4.25%-4.50% until at least June, with the current economic environment, a change in guidance from the Fed might be warranted. A delay in the anticipated June rate cut wouldn't be helpful for the gold price
GOLD Strong Bullish Breakout! Buy!
Hello,Traders!
GOLD is trading in a strong
Uptrend and the price
Made a bullish breakout
Of the key horizontal level
Of 2949$ and the breakout
Is confirmed so we are
Bullish biased and we will
Be expecting a further move
Up after the potential pullback
Sell!
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GOLD RESISTANCE AHEAD|SHORT|
✅GOLD is going up now
But a strong resistance level is ahead at 2956$
Thus I am expecting a pullback
And a move down towards the target at 2938$
SHORT🔥
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GOLD Bullish Breakout! Buy!
Hello,Traders!
GOLD is going up now
And made a strong bullish
Breakout of the key
Horizontal level of 2923$
So we are bullish
Biased now therefore
We will be expecting a
Further bullish move up
Buy!
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Rounding Top Formation & Key Support📊 TVC:GOLD (XAU/USD) Market Update – Rounding Top Formation & Key Support Test
📉 Gold is currently forming a rounding top pattern, indicating potential weakness in momentum.
🔄 Current Scenario:
If the price returns to the green support zone, it could act as a strong support level.
Buyers may step in at this zone, leading to a potential bounce and renewed bullish momentum.
📌 Traders should watch for confirmation signals at the green zone to assess whether buyers regain control.
Bearish drop?XAU/USD is rising towards the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 2,925.63
Why we like it:
There is a pullback resistance level.
Stop loss: 2,953.39
Why we like it:
There is a pullback resistance level.
Take profit: 2,876.15
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Could the Gold drop from here?The price is reacting off the pivot which is a pullback resistance and could drop to the pullback support.
Pivot: 2,900.98
1st Support: 2,863.32
1st Resistance: 2,926.83
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GOLD, massive rise awaits here... Seed at 2880 level, 3k next.TRADE SEED Signal:
BUY GOLD / XAUUSD.
After our successful trade on GOLD short yesterday registering a whopping 300 pips gain, we are now looking to be on the other side -- as initial shift in behavior has been spotted.
We are now at a higher pre basing zone area. Expect some weighty rise from here on target ATH levels anew with a possible break/
LONG at 2880
Target 3000.
TAYOR.
Trade safely.
GOLD Risky Short! Sell!
Hello,Traders!
GOLD made a bearish
Breakout of the key
Horizontal level of 2900$
And the breakout is confirmed
So we are locally bearish
Biased and we will be
Expecting a further move down
Sell!
Comment and subscribe to help us grow!
Check out other forecasts below too!
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
XAU/USD (Gold) Trendline Breakout (10.03.2025)The XAU/USD Pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Trendline Breakout Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position around Trendline Of The Pattern.
Target Levels:
1st Support – 2877
2nd Support – 2860
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