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Market Analysis: Gold Pulls BackMarket Analysis: Gold Pulls Back Gold price started a fresh decline below $3,380. Important Takeaways for Gold Price Analysis Today - Gold price climbed higher toward the $3,410 zone before there was a sharp decline against the US Dollar. - A key bearish trend line is forming with resistance near $3,355 on the hourly chart of gold. Gold Price Technical Analysis On the hourly chart of Gold at FXOpen, the price climbed above the $3,380 resistance. The price even spiked above $3,400 before the bears appeared. A high was formed near $3,409 before there was a fresh decline. There was a move below the $3,380 pivot level. The bears even pushed the price below the $3,350 support and the 50-hour simple moving average. It tested the $3,330 zone. A low has formed near $3,331 and the price is now consolidating losses near the 23.6% Fib retracement level of the downward move from the $3,409 swing high to the $3,331 low. Immediate resistance on the upside is near a bearish trend line at $3,355 and the 50-hour simple moving average. The next major hurdle is near the 50% Fib retracement level. The main barrier for the bulls could be near the $3,380 level, above which the price could test the $3,400 zone. Any more gains might call for a move toward $3,410. An upside break above $3,410 could send Gold price toward $3,425. Initial support on the downside is near $3,330. The next key level is $3,320. If there is a downside break below $3,320, the price might decline further. In the stated case, the price might drop toward the $3,300 zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XAUUSD
by FXOpen
1
XAU/USD,1h Chart PatternBased on my chart, the two marked resistance zones (target points) for XAU/USD are: First target: around 3,375 – 3,380 (short-term resistance inside the Ichimoku cloud area). Second target: around 3,395 – 3,405 (previous swing high and top of the channel). Since price is trending upward along the ascending trendline and just broke into the Ichimoku cloud, the first target is more conservative, while the second is for a stronger bullish push if momentum continues.
OANDA:XAUUSDLong
by RSI_Trading_point
12
XAUUSD Delivered Excellent profits As I mentioned in yesterday’s commentary session: My strategy is buy from from Dips 3330-3340 Very happy with the profits so far, multiple trades at 3331–3340 📌 XAUUSD YESTERDAY TRADES💥 -----------12 - AUG -2025 ---------------- GOLD BUY 3340    40 PIPS BE HIT✳️ GOLD BUY  3344   130 PIPS TP HIT✳️ GOLD BUY  3340    50 PIPS SL HIT ❌️ GOLD BUY 3331    270 PIPS TP HIT✳️ -------------------------------------------------------------- NET PIPS : 390 PIPS Always follow your setup & your path with patience and discipline. My targets is achieved alhumdulillah. All I say thanks to those who followed us and made profits.
OANDA:XAUUSD
by Forexmaestro121
Gold Spot / U.S. Dollar (XAU/USD) 4-Hour Chart - OANDA4-hour chart from OANDA displays the price movement of Gold Spot (XAU/USD) from late July to mid-September 2025. The current price is $3,335.985, reflecting a decrease of $6.670 (-0.20%). Key levels include a sell price of $3,335.720 and a buy price of $3,336.270. The chart highlights recent price fluctuations, with a notable drop and a shaded support/resistance zone between approximately $3,340.000 and $3,360.000
OANDA:XAUUSDLong
by Alee_Gold_Trader
XAUUSD 4H Analysis – Bullish Reversal OpportunityGold is currently trading around $3,336, retesting a key demand zone near $3,334 – $3,340 (green box). This zone has acted as strong support in the past, aligning with a major horizontal level and previous breakout retests. 🔍 Key Levels: Support Zone: $3,334 – $3,340 (green box) Resistance 1: $3,361 Resistance 2: $3,394 Major Demand Zone Below: $3,223 📊 Technical Outlook: Price has pulled back into a strong demand area after failing to break above the $3,394 resistance. If bulls defend this green zone, we could see a bounce toward $3,361 and potentially $3,394. A clean break above $3,394 could open the door for a retest of the $3,420+ zone. However, if this demand zone breaks, sellers could push price lower toward $3,223. 💡 Trading Plan: Buy Entry: Around $3,334 – $3,340 (on bullish confirmation) Stop Loss: Below $3,323 Take Profit 1: $3,361 Take Profit 2: $3,394 ⚠ Disclaimer: This is not financial advice. Always conduct your own analysis and manage risk properly before trading. #XAUUSD #Gold #Forex #Trading #PriceAction #TechnicalAnalysis #SwingTrade #SmartMoneyConcepts #SupportAndResistance #CommodityTrading
OANDA:XAUUSDLong
by FrankFx14
2
GOLD DUMPS $50 – LIQUIDITY ZONE AHEAD | CPI IN FOCUS! GOLD DUMPS $50 – LIQUIDITY ZONE AHEAD | CPI IN FOCUS! 📌 MARKET RECAP Gold kicked off the week with a sharp $50 drop, breaking multiple key trendlines and nearby support levels in quick succession. Main drivers behind the move: Profit-taking after the recent strong rally. Stronger USD expectations ahead of CPI data (forecast +0.1% vs previous). Geopolitical factors – Ukraine–Russia ceasefire talks approaching their conclusion, adding to risk-off sentiment. 🧐 WHAT’S NEXT? If CPI comes in strong → USD strengthens → Gold could slide further into the 333x – 330x liquidity zone. If CPI disappoints → USD weakens → Gold may quickly bounce back toward the 337x key level (previous breakdown area) for a retest before deciding direction. 🎯 MMFLOW GAME PLAN 1️⃣ BUY SCALP 📌 Entry: 3331 – 3329 📌 SL: 3325 📌 TP: 3335 – 3340 – 3345 – 3350 – 3360 – 3370 – 3380 2️⃣ BUY ZONE 📌 Entry: 3310 – 3308 📌 SL: 3304 📌 TP: 3314 – 3318 – 3322 – 3326 – 3330 – 3335 – 3340 – 3350 – 3360 – ??? 3️⃣ SELL SCALP 📌 Entry: 3363 – 3365 📌 SL: 3370 📌 TP: 3360 – 3356 – 3352 – 3348 – 3344 – 3340 4️⃣ SELL ZONE 📌 Entry: 3376 – 3378 📌 SL: 3382 📌 TP: 3372 – 3368 – 3364 – 3360 – 3355 – 3350 – 3340 ⚠️ RISK NOTE CPI is a potential game-changer – even a small deviation from forecasts can trigger a massive one-way move. Always keep an eye on AD-marked Key Levels on the chart before pulling the trigger.
OANDA:XAUUSDShort
by MMFlowTrading
11
Elliott Wave Analysis – XAUUSD August 12, 2025 1. Momentum Analysis • D1 Timeframe: Momentum is declining → the downtrend remains intact. It may take another 2–3 daily candles for price to reach the oversold zone and potentially reverse. • H4 Timeframe: Momentum is rising → from now until the U.S. session, price may either retrace upwards or move sideways. • H1 Timeframe: Momentum is preparing to turn down → a minor pullback could occur in the short term, so this move should be monitored. ________________________________________ 2. Elliott Wave Structure • The green wave structure in the form of an ending diagonal may have been completed. This could mean that Wave 5 or Wave C (black) has formed. • Personally, I do not want to see the Green 5-Wave Structure end with an ending diagonal at this stage because: o If this is an impulsive uptrend structure, we are only at Wave 1 of the larger degree. o An ending diagonal in Wave 5 (black) indicates weak buying pressure, which is not ideal when price hasn’t broken the previous high to confirm a new trend → increasing the probability that this is a corrective wave. • Looking at the current downward wave structure, I tentatively label it as five black waves 1-2-3-4-5. The current slight rebound is expected to be Wave 4, which could take the form of either a Flat or Triangle. • Wave 4 targets: 1. 3358 2. 3364 • If price breaks 3381, the current 1-2-3-4-5 bearish count will be invalidated (Wave 4 would overlap Wave 1). In that case, the structure could turn into a corrective ABC or a new 5-wave advance. • With a Wave 4 target at 3364, the projected Wave 5 target would be 3323. ________________________________________ 3. Combining Momentum & Wave Structure • D1 downtrend → supports the scenario of another drop, forming Wave 5. • H4 rising + H1 declining → could indicate Wave 4 forming as a triangle, with the key signal being that the current drop does not break 3342. o If 3342 breaks, Wave 5 may already be in play, targeting 3323. • Since H4 momentum is still rising, there remains a chance that price breaks above 3381, which would require a full recount—possibly turning into an ABC correction or a 5-wave rally. ________________________________________ 4. Trading Plan • If Wave 4 forms as a triangle → the 3358 area is a good sell zone, or wait for a breakout below 3342. • Limit Sell Order: o Entry: 3364 – 3366 o SL: 3374 o TP1: 3342 o TP2: 3333 o TP3: 3323
OANDA:XAUUSDShort
by WavePoint_FX
XAUUSD Technical AnalysisGold is currently trading within a rising wedge pattern on the 1-hour chart. The price recently touched the upper trendline of the wedge and faced a strong rejection, indicating bearish pressure. If the price breaks below the lower boundary of the wedge, it will likely trigger a sharp bearish move. Key downside targets after a confirmed breakdown are: 3340 3300 3270 If Gold drops below 3270, the next significant support lies at 3250 on the daily chart. A daily close below 3250 will confirm a shift in the medium-term trend, opening the path toward the 3000 psychological level. OANDA:XAUUSD
OANDA:XAUUSDShort
by SaklainManzoor
XAU/USD Bullish Bounce from Demand Zone !Gold (XAU/USD) on the 4H chart is showing a potential bullish reversal setup. Price has pulled back into a Fair Value Gap (FVG) and high supply/demand zone near 3,329–3,315, aligning with the 0.382–0.5 Fibonacci retracement. Key Points: Support Zone: 3,329–3,315 (demand + FVG). Bullish Rejection Expected: Price may bounce from this zone, targeting upper resistance levels. Upside Targets: TP1: 3,356 TP2: 3,375 TP3: 3,440–3,459 (major resistance) Invalidation: A daily close below 3,315 could open room for deeper downside toward 3,278–3,245. Indicators: EMA(9) and Ichimoku showing potential for trend resumption if price closes above 3,362. Overall, the chart suggests a buy setup on bullish confirmation, aiming for the 3,375–3,459 zone.
OANDA:XAUUSDLong
by KingProTrader
GOLD (XAU/USD) – 2H Price Action & SMC Outlook# 🟡 GOLD (XAU/USD) – 2H Price Action & SMC Outlook **Date:** 2025/08/12 **Timeframe:** 2H (Heikin Ashi) **Style:** Smart Money Concept (SMC) + Fair Value Gap (FVG) --- ## 📊 Market Context Gold is currently testing the **FVG support area** around **3,349 – 3,350**, with a visible **CHOCH** structure forming on the chart. The reaction from this level will be critical in determining the next directional move. --- ## 📈 Bullish Scenario (Primary) 1. **Condition:** - Price respects the FVG zone (**3,349.9**) - CHOCH breaks to the upside - Clean break and close above **3,401.2** 2. **Expected Move:** - Retest of the breakout zone for liquidity grab - Extension towards **3,440** as the main target 3. **Targets:** - 🎯 TP1: **3,401.2** (break confirmation) - 🎯 TP2: **3,440** (major resistance & supply) 4. **Invalidation:** - A close below **3,345** would weaken the bullish case and expose lower demand. --- ## 📉 Bearish Scenario (Alternative) 1. **Condition:** - Price fails to break **3,401.2** - Strong rejection from the descending trendline 2. **Expected Move:** - Return to the FVG zone at **3,349.9** - If broken, possible continuation towards **3,320 – 3,325** --- ## ⚠️ Analysis Validity This analysis remains valid while **FVG support holds** and a **bullish CHOCH breakout** occurs. Failure to hold the FVG could trigger deeper retracements. --- #XAUUSD #GoldAnalysis #SMC #FVG #CHOCH #TradingView
FOREXCOM:GOLDLong
by mmozafari1357
CPI is about to be announced, 3342 life and death lineGold prices rebounded during the Asian and European trading hours on Tuesday (August 12), stalling their rebound. Spot gold briefly rose 0.4% to around $3,357/oz, but the rebound lacked momentum and has now retreated to around $3,346.82/oz, still near the previous day's one-week low. Market expectations are that the Federal Reserve will resume its rate cut cycle in September, but this expectation limits the dollar's potential for recovery, which in turn provides some support for gold, a non-interest-bearing asset. However, gold bulls appear reluctant to make large bets, opting instead to await the latest US inflation data. This key data will provide fresh clues about the Fed's rate cut path, in turn impacting dollar demand and providing a substantial boost to gold prices. Meanwhile, the extension of the US-China trade truce and optimistic expectations for a US-Russia summit aimed at ending the war in Ukraine could pose bearish factors for gold. Market Dynamics: Gold prices benefited from Fed rate cut bets, while US dollar demand remained subdued. Gold prices fell sharply on Monday as easing geopolitical tensions weighed on traditional safe-haven assets. Investors are pinning high hopes on Friday's US-Russia summit, believing it will increase the likelihood of an end to the long-running Russia-Ukraine conflict. Furthermore, continued buying of the US dollar contributed to a sharp drop of approximately 1.65% in precious metals overnight. Market participants are generally betting on a 25 basis point interest rate cut by the Federal Reserve in September, with at least two more by year-end. This expectation is bolstered by a recent string of disappointing US economic data, including the closely watched non-farm payroll report, which suggests the economy may be weakening. However, traders are likely to refrain from making large directional bets, opting to wait and see ahead of US inflation data, which could provide further clues about the interest rate outlook. The US Producer Price Index (PPI) will be released on Thursday, followed by US retail sales data and the Michigan Consumer Confidence Index on Friday. Furthermore, speeches by several key Federal Reserve (FOMC) officials will also influence the US dollar's short-term trajectory and provide significant support for gold prices. On the trade front, US President Trump signed an executive order on Monday extending the US-China trade truce for three months, easing market concerns about a trade war between the world's two largest economies. Trump previously stated in a social media post that gold would not be subject to tariffs, but provided no further details. Gold bears need to wait for a break below the key support level near $3342. Technically, gold has successfully held the key support level of the 200-period SMA on the 4-hour chart, currently located in the $3344-3342 range. Given that oscillators on the chart are showing downward momentum, a break below this support level could drag gold towards the intermediate support level of $3315 and, subsequently, the $3300 mark. Any subsequent selling would be seen as a new trigger for short traders and pave the way for further declines in gold prices. Conversely, a rebound above the $3358-3360 area could face strong resistance near $3380. A sustained break above this resistance level would allow gold to make another attempt to conquer the $3400 mark. A further break above last week's swing high of $3409-3410 would reverse the current bearish outlook and push gold prices towards testing the next key resistance level of $3422-3423. Upward momentum could extend to the strong horizontal resistance level of $3434-3435. A clear break above this resistance could challenge the historical peak of $3500 reached in April. Overall, the gold market is currently caught in a tug-of-war between expectations of monetary policy easing and easing geopolitical risks, with technical indicators showing signs of consolidation and volatility. Investors are advised to closely monitor this week's inflation data and exercise caution until key levels are breached. PEPPERSTONE:XAUUSD VELOCITY:GOLD PEPPERSTONE:XAUUSD ACTIVTRADES:GOLD VANTAGE:XAUUSD CMCMARKETS:GOLD
TVC:GOLD
by Charlie_Senior_Analyst
Reasons for gold price plunge in today's trading session 11/8Gold prices fell 1% on Monday as markets focused on upcoming talks between the United States and Russia over the Ukraine conflict, along with July data that could bring more concerns about the Federal Reserve's interest rate outlook. Gold was trading at $3,363.31 an ounce at 0703 GMT, having hit its highest since July 23 on Friday. US gold futures for December delivery fell 2% to $3,423.10 an ounce. "Easing geopolitical tensions over the Ukraine war sent gold prices lower, following Friday's announcement that US President Donald Trump will meet Russian President Vladimir Putin on US soil" Meanwhile, US consumer price data is due on Tuesday, with recent tariffs expected to push the core index up 0.3%, taking the annual rate of growth to 3%, above the Federal Reserve’s 2% target. “If inflation is high, the US dollar could strengthen and make it difficult for gold to rise. However, I think gold prices will still be supported as investors buy on dips.” The recent weaker-than-expected US jobs report has increased expectations that the Fed will cut interest rates in September. Markets are pricing in about a 90% chance of easing in September and at least one more cut before the end of the year.
OANDA:XAUUSDShort
by FalCol_TradingMaster
1
Grasp the key opportunities in gold tradingBefore and after the European session, gold fell back and adjusted again; in the U.S. session, it stabilized and rebounded above 3340 as expected, and continuous low-long layouts achieved steady profits. From the hourly chart structure, the gold trend was highly consistent with the prediction, which not only continued the downward adjustment rhythm, but also released the profit space of rebound long orders, showing the fierce game between the long and short forces in the market. The 1-hour moving average has begun to turn downward, significantly strengthening bearish momentum. During the US trading session, gold failed to break through the key resistance zone of 3365-3380. This area remains a key defense for bears in the short term.As long as gold fails to effectively break through and hold 3380, the bearish trend will continue to dominate the market, and rebounds will provide favorable opportunities for short positions. The continuous breaking of new lows indicates that bears have a stronger advantage, and bulls are unlikely to achieve a sustained reversal. During trading, it is recommended to strictly implement risk management, reasonably control positions, and position accordingly, seizing every rebound short opportunity. Subsequently, monitor the performance of the key support level of 3340-3330. If this support level fails, bearish momentum will further intensify. Otherwise, there will be limited room for short-term adjustments. Overall, gold is still in a bear-led, volatile downward phase. The main strategy is to short on rebounds, supplemented by buying on pullbacks, and respond flexibly to market changes. Gold operation suggestion: short gold when it rebounds around 3365-3380, target 3350-3340. If gold falls back to 3340-3330 and stabilizes, consider going long with the target at 3355-3360.
OANDA:XAUUSDShort
by Trade-Daniel
Gold long and short two-way layout ideasI write every article hoping to connect with those I'm connected with. I hope to help investors in need. Regardless of initial impressions, I should give them a chance to understand me. I believe that the fact you've read all this is fate, and investing is largely about fate. If you believe in fate and believe I can do something for you, you might want to talk to me. Gold has been falling steadily today. Technically, the hourly moving average is turning upwards from its highs. This suggests a potential short-term rebound for gold bulls, and they may need significant news to stimulate their decline. Otherwise, they may struggle to achieve significant gains in the short term. With this hourly decline, there's little chance of a major rebound. The key level for gold remains around 3365-3380. After all, previous support levels have become resistance levels. If your current trading isn't ideal, I hope I can help you avoid investment setbacks. Feel free to discuss your options. From the perspective of the 4-hour cycle structure, the lower support is focused on the 3340-3330 area, which is an effective support zone that has been verified many times; the upper resistance is focused on the 3365-3380 area, which may form a key suppression level in the short term. In terms of operation ideas, we should maintain a two-way strategy of shorting on rebounds and going long on pullbacks. According to the changes in the shape and momentum of prices touching key positions, we should flexibly adjust the entry direction, specific execution points and risk control plans. I will remind you as soon as the market touches key areas, so please pay attention in time. Gold Trading Strategy: 1. Short gold in batches when it rebounds around 3365-3380, targeting 3350-3340. 2. Go long on gold when it falls back to around 3340-3330, with the target at 3355-3360.
OANDA:XAUUSDShort
by Trade-Daniel
Bearish trend dominates, gold awaits direction decisionGold's 1-hour moving average has begun to turn around from a high point. For gold bulls, this may mean that if they want to reverse their decline in the short term, they may need major news to stimulate the market. Otherwise, in the short term, gold bulls may find it difficult to make any significant progress. Gold's 1-hour moving average has fallen at this rate, and there has been basically no major rebound. This rebound also provides a second opportunity for shorting. The key level of gold is still in the 3365-3380 area. If the US market is under pressure at the 3365-3380 area, then gold will continue to be shorted on highs. The market is changing rapidly. We never become rigid longs or shorts. Trading is about following the wind. We go where the wind blows, otherwise we will eventually fail against the wind. Gold bears are now clearly becoming stronger, so we should continue to ride on the tailwind of the gold bears.
OANDA:XAUUSDShort
by Trade-Daniel
Will We See a Break Down or a Sharp Rebound to Key Resistance?XAUUSD – Will We See a Break Down or a Sharp Rebound to Key Resistance? | MMFlow Trading 🔥 Market Overview Gold dropped sharply at the start of the week as profit-taking hit the market and late-week FOMO buyers from last week were stopped out. Buy-side momentum has clearly slowed, and sellers are waiting for a confirmed breakdown from the rising channel to target lower liquidity zones around 335x and 333x. At present, price is reacting around the 336x – 337x key support with an H1 long-wick candle showing buying pressure. Trading Outlook We need a clear breakdown confirmation (candle close with volume) before executing a short entry. If price holds and fails to break, we could see a rebound back towards major resistance zones 339x – 340x – 342x. This week is loaded with high-impact USD data – CPI & PPI – both strong inflation indicators that could put short-term pressure on gold if data comes out USD-positive. 📌 Trading Plan BUY SCALP Entry: 3353 – 3351 Stop Loss: 3345 Targets: 3358 → 3362 → 3366 → 3370 → 3375 → 3380 BUY ZONE Entry: 3332 – 3330 Stop Loss: 3325 Targets: 3336 → 3340 → 3345 → 3350 → 3360 → 3370 → 3380 SELL SCALP Entry: 3394 – 3396 Stop Loss: 3400 Targets: 3390 → 3385 → 3380 → 3370 → 3360 SELL ZONE Entry: 3425 – 3427 Stop Loss: 3430 Targets: 3420 → 3415 → 3410 → 3405 → 3400 → 3390 → 3380 ⚠ Risk Management Notes This is a high-impact news week – expect false breakouts before and after CPI/PPI releases. Avoid oversized positions into news; keep risk tight. If price breaks above 3430 with strong volume, the current sell setup is invalid → wait for a new market structure before re-entering.
OANDA:XAUUSDShort
by MMFlowTrading
2
The daily trend has not changed, go long on pullback#XAUUSD Good morning, and a wonderful day. Last night we expected that if the 3390-3380 level below is effective, then gold will still have room to rise. After the morning opening, gold began to fall and adjust, reaching a low of around 3367, and the overall trend fell into a wide range of fluctuations. From a technical perspective, the daily moving average tends to converge upward, with the middle track located near 3357. Before it effectively falls below, the daily bullish trend remains unchanged. Paying attention to the 4H technical indicators, we find that the MACD indicator death cross with large volume tends to fluctuate and fall. In the short term, we should focus on 3380-3390 above. At present, we should focus on the support at 3350. If it fails to break through effectively, gold will rebound again. On the whole, it is recommended to go long when the price retreats to around 3360-3350 during the day, with the target at 3375-3385. 🚀 BUY 3360-3350 🚀 TP 3375-3385
OANDA:XAUUSDLong
by Halson_Winston
XAUUSD - Trading scenariosTechnical market condition The price holds above $3,370, demonstrating sustainable bullish potential. Tariff tensions and inflation data expectations are keeping interest in gold as a safe haven asset. However, gold is trying to break through the barrier at $3,400 again: until the breakout is confirmed, quotes will remain under pressure. Counteraction to the decline: data on the reduction of geopolitical risks (for example, in Ukraine) and the strengthening of the dollar are exerting pressure - a possible decline to the support level of $3,314-$3,342. Support and resistance levels Key resistance levels: ~$3,400 - a psychological barrier, repeatedly confirmed by sales. With a confident breakout, an attack on $3,435 is possible and then - to $3,500-$3,600, as Citi analysts predict against the backdrop of a weak US macroeconomy. Main support levels: ~$3,370 — current support. If broken — potential for a drop to $3,314–$3,342
ICMARKETS:XAUUSDShort
by Trade_Hive_Signals
Gold's decline does not mean a bearish trendGold opened high and closed low today, gradually declining from 3405 and then widening its losses, hitting a low of 3354 in the European session. The intraday short-term trend was clearly weak, with the price still unable to break through 3400 and stabilize. In last week's analysis, I emphasized that if this uptrend fails to stabilize above 3400, a downward turn is possible at any time. However, in the medium and long term, the bullish outlook remains unchanged. Although 3400 hasn't been broken, after a deep correction, it will likely break again; it's just a matter of time. It also requires the right opportunity, namely, news stimulus to drive the market. Focus on CPI data. Don't turn bearish based on today's decline; it could potentially rebound tomorrow. Therefore, we recommend avoiding short positions. Even if you do go short, wait for a rebound and use a stop-loss to maintain risk management. Gold is currently trading sideways around 3360. If it rebounds before the US market opens and reaches the 3378-3380 level, short it with a stop-loss at 3390, targeting 3360-3350. If there's no rebound before the US market opens and the decline continues, then consider a bullish trend around 3345. This was last week's starting point and coincides with the 50% retracement support level. A rebound could be expected if it reaches the watershed level of 3334, with a target around 3380. OANDA:XAUUSD VELOCITY:GOLD VANTAGE:XAUUSD CMCMARKETS:GOLD PYTH:XAUUSD FOREXCOM:GOLD EIGHTCAP:XAUUSD
OANDA:XAUUSD
by Charlie_Senior_Analyst
Gold weakness confirmed, short selling may accelerateAfter short-term sideways consolidation, gold continued its downward trend in the European session. It is expected to break the previous wide sweeping pattern today. In the 4H cycle, the price effectively fell below the middle Bollinger band under the pressure of continuous negative lines, showing the momentum of continued decline; after the short-term support of 3360 was lost, the lower Bollinger band space was further opened, and the weak pattern was confirmed. Strategically, the European and American sessions were adjusted to maintain a downward trend. The upper pressure focused on the 3365-3380 area. The operation was mainly rebound shorting. If 3350 was further broken below, the target could be extended to the 3340-3330 area. Gold operation suggestion: short gold when it rebounds around 3365-3380, target 3350-3340-3330.
OANDA:XAUUSDShort
by Trade-Daniel