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Gold Hits New ATH – Is a Bearish Crab Reversal Next?Gold ( OANDA:XAUUSD ) started to rise today after the release of the ISM Manufacturing PMI index formed a new All-Time High(ATH) . The question is what price range could the new ATH price range for gold be in? Gold is currently moving near the Potential Reversal Zone(PRZ)($3,557-$3,531) . From a pattern analysis perspective , it looks like Gold is completing a Bearish Crab Harmonic Pattern . In fact, if we find a trigger at point D of the Bearish Crab Harmonic Pattern , we can confirm this pattern. From an Elliott wave theory perspective , it looks like Gold is completing wave 5 . This wave 5 could act as the end of the main wave 3 . I expect Gold to drop to at least $3,501 in the coming hours . Second Target: $3,481 Third Target: Support zone($3,474-$3,466) Stop Loss (SL) = $3,559(Worst) Gold Analyze (XAUUSD), 15-minute 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:XAUUSDShort
by pejman_zwin
89
GOLD Overview: Rose sharply and broke important resistanceIf we zoom out and take a look at how the price moved on GOLD, we can see the following: The price repeatedly tested the area of resistance while setting consecutively higher lows. The highs around the resistance price formed a horizontal line. Then, it recently broke it with strength. This forms a confirmed ascending triangle. Ascending triangles form due to accumulation in an uptrend. There isn’t enough bullish momentum to break through the area of resistance, but bulls are buying up on each dip. But this important resistance just got broken. This recent bullish breakout above the resistance area, meant the completion of a bigger ascending triangle pattern. Now this is good news. Why? Because if we measure the distance between the resistance area and the lowest low at the start of the pattern and add that to the resistance zone, to calculate the profit target, it means that we can see quite a move to the upside. So we could look for a break-and-retest right here. BUT, when a breakout like this one fails, either initiating a reversal or more sideways move, then we can see a correction and caution is advised.
OANDA:XAUUSD
by TrendDiva
58
Gold in Focus: Pullback Sets Stage for Next MoveGOLD has been moving within a rising parallel channel. And recently price just pulled back sharply from the channel’s top and touched the lower boundary, where it was strongly rejected. That rejection wick indicates that buyers stepped in already. If momentum picks up again, the channel top could even break and extend the rally further. I would target the top of the channel, taking into account the market context, it's achievable. The risk, however, comes if price closes strongly below the channel’s lower boundary. In that case, the bullish structure breaks and the move could start downwards short term.
PEPPERSTONE:XAUUSDLong
by TrendDiva
50
Gold will continue to grow inside upward channelHello traders, I want share with you my opinion about Gold. The market context for Gold has been firmly bullish since the price broke out of its prior consolidation range, a move that originated from the deep buyer zone. This breakout shifted the market structure, initiating a new impulsive phase that has since been neatly contained within a well-defined upward channel. The price action for XAU has been respecting the boundaries of this channel, creating a clear sequence of higher highs and higher lows. Currently, after being rejected from the channel's upper resistance line, the asset is undergoing a healthy correction movement. This pull-back is guiding the price back towards a significant confluence of support, where the ascending support line of the channel converges with the horizontal support zone near the 3485 current support level. The primary working hypothesis is a long scenario, based on the expectation that buyers will defend this area and maintain the integrity of the uptrend. A confirmed bounce from this dynamic support would signal the end of the correction and the resumption of the primary bullish trend. Therefore, the TP is logically placed at 3610 points, representing a new structural high and a measured objective for the next impulsive wave. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
32
XAUUSDHello Traders! 👋 What are your thoughts on GOLD? Following the release of the U.S. Non-Farm Payrolls (NFP) data on Friday, gold surged to the 3600 level before entering a corrective phase from that resistance. We expect this pullback to extend further, potentially reaching lower support zones in the short term. If gold finds support and reacts positively, a new bullish wave may begin. A confirmed breakout above the 3600 level would open the door for a move toward the next key resistance around 3700. As long as gold holds above the key support area, this bullish scenario remains valid. Don’t forget to like and share your thoughts in the comments! ❤️
OANDA:XAUUSDLong
by HAMED_AZ
35
Lingrid | GOLD Weekly Market Outlook: Fed Cut Bets Drive Rally ?OANDA:XAUUSD surged Friday after disappointing payroll data showing just 22K jobs added versus 75K expected, solidifying Fed rate cut expectations at 87.8% probability for September's meeting. The precious metal has already hit record highs above $3,500, gaining over 30% year-to-date as weakening labor conditions fuel aggressive easing bets. The 4-hour chart reveals gold touched above the $3,600 resistance zone with bullish momentum intact. If the market pulls back then there's 38.2% fibo retracement level to consider. Overall gain of 4.75% in one week suggests minor consolidation might occur before targeting the upper resistance around $3,650. The ascending channel remains unbroken, supporting continued upward movement. The broader perspective shows gold emerging from a prolonged consolidation phase, with the recent breakout confirming a major $3,500 level. Gold initially demonstrated its first impulse leg, then moved sideways for four months, and is now in the process of forming its second impulse leg, which will end at around $3,660. Some economists now debate whether the Fed might deliver a jumbo 50-basis-point cut given consecutive weak employment reports, which could propel gold toward the $3,660-3,700 correction zone upper boundary. Key support lies at $3500-3530, while sustained weakness could test the major trendline near $3,450. If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
OANDA:XAUUSDLong
by Lingrid
18
XAU/USD | Gold at Record Highs – Can NFP Stop the Rally?By analyzing the gold chart on the 12-hour timeframe, we can see that the price continued its rally today, reaching $3,578 and printing a new all-time high (ATH)! After hitting this level, gold made a slight pullback to $3,510. Right now, the price has bounced back and is trading around $3,550. So far, there are no clear signs on the higher timeframes that gold is ready to reverse from here. For that, we would need to see stronger bearish moves. The current momentum still supports further upside unless proven otherwise. That’s why it’s better to stay patient and wait for a real break or shift in market structure before looking for attractive trade setups. Also, tomorrow we have the NFP report, which could trigger a drop in gold if the data comes in stronger than expected. Until then, we’ll wait — and if you guys strongly support this post, I’ll share my updated personal analysis a few hours before the release. Stay tuned! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
FX_IDC:XAUUSD
by ArmanShabanTrading
33
XAUUSDHello Traders! 👋 What are your thoughts on XAUUSD? Gold has been moving within a medium-term ascending channel and recently managed to break above a major resistance area that had previously rejected price multiple times. Currently, the price is facing a psychological and technical barrier at the $3500 level, acting as the next resistance. Price is expected to consolidate slightly below $3500 before attempting another push higher. As long as price holds above the broken resistance and stays within the ascending channel, the bullish outlook remains valid. A successful breakout above $3500 could open the path toward targets at $3600 – $3700-$3900 in the medium term. Don’t forget to like and share your thoughts in the comments! ❤️
OANDA:XAUUSDLong
by HAMED_AZ
42
Gold: Is Market Manipulation Driving the Move?Gold: Is Market Manipulation Driving the Move? Gold hit 3509 today but quickly dropped back below 3500. As long as it stays under this level, a sell-off remains likely. I don’t expect any major news to trigger this move—it could simply unfold without a clear reason, just like the recent bullish wave did. If today’s candle closes as a pinbar, we might see a small Head and Shoulders pattern forming on the 60-minute chart, which could push prices lower. The key level to watch is the neckline, around 3470. A break below that could trigger further downside. 💵 Dollar Strength vs. Gold The DXY and USD were strong today, and that strength showed up in the indices—but not in gold. It’s possible gold could drop during the U.S. market open. If it doesn’t, and instead starts rising, it might suggest that manipulation is playing a bigger role than expected. It’s strange how gold reflects all the major USD-related news—like inflation and interest rates—but doesn’t seem to react to USD strength, which is a clear strength. The whole situation feels highly manipulated and disconnected from fundamentals. You may find more details in the chart! Thank you and Good Luck! PS: Please support with a like or comment if you find this analysis useful for your trading day
FX:XAUUSD
by KlejdiCuni
26
GOLD (XAUUSD): Bullish Trend ContinuesGOLD is currently exhibiting a robust bullish trend, having recently reached a new higher high. Following this upward movement, the market entered a phase of consolidation within a narrow parallel channel on the hourly time frame. The recent violation of the resistance indicates a likely continuation of this upward trend. Given these technical indicators, I anticipate that GOLD will reach the significant psychological level of 3560, reflecting sustained bullish momentum in the market.
CAPITALCOM:GOLDLong
by linofx1
19
Understand This, and You Will Always Be the Winner👋Welcome, everyone! Have you ever wondered what causes the market to rise and fall? You may have seen in my analysis that I always refer to the news, and yes, that’s the answer. In addition to technical analysis, news always plays a crucial role as a catalyst, driving stronger trends. Let’s explore more! TOPIC: Identifying The News Groups That Strongly Affect Gold Prices Not all news is important. Gold often fluctuates strongly due to the following factors: -Interest rates & FED policies (FOMC, FED chairman’s speech) -Inflation data: CPI, PCE, Core CPI -USD strength: DXY index, employment report (NFP) -Geopolitics: Conflict, war, financial crisis ➡️ If the news falls into these 4 groups, pay close attention. 💡 Understand the basic logic of USD and gold 🔼 When the USD strengthens (due to good news about the U.S. economy, the FED raising interest rates) → gold usually decreases. 🔽 When the USD weakens (bad news, the FED loosens, high inflation) → gold usually increases. 🚫 When there is instability (crisis, war, risk) → safe-haven money flows into gold. ➡️ By understanding this logic, you don’t need to memorize too much. 📢 Read the news in 3 steps When the news is released: -Compare the actual results with the forecast and previous period. -Place gold in the logic above to speculate on the initial direction. -Combine with the chart to find a reasonable entry instead of entering immediately when the news is released (avoid getting stopped out). ⭐️ Real example: OANDA:XAUUSD A strong rally to 3600 USD. Cause: Non-Farm Payrolls (NFP) released on September 6. 📊 The data showed: -Actual: 22K -Forecast: 75K -Previous: 79K This is a strong bullish signal: the number of jobs created was much lower than expected, showing a weakening U.S. labor market → USD weakens → gold surges, providing a great buying opportunity. 📌 In conclusion: Reading the news doesn’t have to be complicated. Just remember: ✅ Important news that affects gold. ✅ USD and gold are almost opposites. ✅ Always combine news + technical analysis for safe entries. Now, it’s your turn to put the knowledge into practice. Please like this post if you understand everything and are looking forward to the next lessons, it will be a great encouragement for me. Wishing you all the best on your way to becoming an expert!
OANDA:XAUUSDEducation
by Kevinn_Nguyen
35
Gold Explodes Every Second👋 Hello everyone, let’s dive into OANDA:XAUUSD together! Yesterday, gold continued its shocking rally, hitting 3600 USD for the first time in history, making the precious metal more attractive than ever – jumping over 500 pips in just a few hours. This bullish momentum has been fueled by recent US economic data, especially the latest Non-Farm Payrolls (NFP) report. 📊 The figures show: -Actual: 22K -Forecast: 75K -Previous: 79K This is a strong bullish signal: far fewer jobs were created than expected, showing weakness in the US labor market → USD weakens → gold explodes higher! On the chart, XAUUSD remains steady, currently retracing around 3586 USD. Supports keep forming, suggesting that after this pullback, another leg up is likely. The current environment is acting as a “tailwind” for gold – the strategy remains: Buy on dip with the main trend. 💬 What about you? Where do you think gold will head next? Share your thoughts in the comments!
OANDA:XAUUSDLong
by Kevinn_Nguyen
40
Gold (XAU/USD) –> Two Scenarios Hello guys! Gold has been moving strongly inside an ascending channel on the 1H chart, showing consistent bullish momentum. Price is currently testing a key resistance area around $3,585 – $3,590. From here, one of two scenarios is most likely to play out: Scenario 1: A short-term pullback toward $3,563 support, followed by a bounce that could fuel another leg higher. target will be near $3,630 – $3,650. Scenario 2: A short-term pullback toward $3,580 support, pushing price toward the upper channel resistance near $3,630 – $3,650. Both scenarios remain bullish as long as gold trades above $3,560. Only a clean break below this level would weaken the structure. Overall, gold is set for further upside; the path depends on whether we see a retest first or an immediate breakout. Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:XAUUSDLong
by melikatrader94
23
Gold Market Live Update Bulls Broke 3500 USD S/R💰 Gold Prices Live Update • Spot gold consolidating $3,535–$3,545/oz, after a decisive breakout above the multi-month range ($3,300–$3,450). • Fresh all-time highs were set this week, with spot hitting $3,575 and U.S. futures spiking to $3,602 intraday. • Current pullback appears mild and orderly, suggesting profit-taking post-breakout rather than trend reversal. ________________________________________ 📰 Fresh headlines • Gold powers to record highs on safe-haven demand. • Breakout above $3,500 confirms bullish momentum. • Futures hit $3,600+ as central banks, ETFs add to positions. • Weekly close strong despite pullback, as rate-cut bets intensify. • ETF holdings surge to highest since 2022; central banks remain active buyers. • Analysts eye $3,600–$3,900 near-term targets. ________________________________________ 🔧 What’s driving the breakout • Technical breakout: Months of range-bound trade ($3,300–$3,450) built a strong base; breach above $3,500 unleashed momentum buying. • Macro tailwinds: Fed rate-cut expectations and falling real yields are lifting gold’s appeal. • Haven demand: Political tensions and policy uncertainty amplify defensive flows. • Institutional support: ETF inflows accelerating, GLD holdings climbing. • Official sector: PBoC and other central banks continue steady accumulation. • Physical drag: India demand subdued at elevated prices; local imports hit multi-year lows. ________________________________________ 🌍 Regional quick read • 🇨🇳 China: PBoC extends buying streak; local ETFs resilient. • 🇮🇳 India: Imports at 2-year low, physical discounts widen as prices bite. • 🇺🇸 U.S.: Futures volumes surge on breakout; non-farm payrolls eyed for near-term volatility. ________________________________________ 🧭 Key levels • Immediate support: $3,500 (psychological + breakout retest). • Secondary support: $3,430 (prior range top). • Deeper pullback zone: $3,150 (major base support if correction extends). • Upside targets: $3,600 already tested; $3,750–$3,900 in play if flows persist. • Positioning: Open interest + volumes confirm breakout conviction; current dip orderly. ________________________________________ 🔭 Q4-2025 outlook • JPMorgan: avg $3,675, path to $4,000 in 2026. • Goldman Sachs: $3,700 by year-end. • BofA: $3,356 baseline, $4,000 stretch case. • Citi: Near-term $3,500+, but warns of risks if demand fades. • Consensus: $3,500–$3,750 base case; bullish tail $3,900, bearish tail $3,250–$3,400. ________________________________________ 🧱 Risks & swing factors • U.S. payrolls + Fed meeting: Short-term catalysts for volatility. • ETF flows + lease rates: Critical to sustaining momentum. • Geopolitical noise: Keeps haven demand sticky. • Physical demand weakness: Especially in India, could cap rallies. ________________________________________ ⚡ Key takeaways • 💥 Breakout confirmed: Gold shattered the $3,300–$3,450 range, powered through $3,500, and tagged $3,575 — clearing multi-month resistance. • 📈 Pullback healthy: Current drift lower looks like mild profit-taking, not distribution. • 🏦 Flows remain bullish: Central banks + ETFs underpinning the rally. • 🧭 Q4 outlook intact: $3,500–$3,750 base case; $3,900 bullish tail / $3,300 bearish tail. • 🇮🇳 Physical demand soft: Indian weakness may keep rallies from overheating.
OANDA:XAUUSDLong
by ProjectSyndicate
47
XAUUSD – Bulls Gaining the Edge?👋Hello everyone, what do you think about OANDA:XAUUSD ? Yesterday, the market received a series of key US data, sending gold into constant swings. Here’s a quick breakdown of the impact on the precious metal: 🔻 ADP Non-Farm Employment Change: 54K < 73K (forecast) < 106K (previous) → Labor market weakens → USD down → Gold supported. 🔻 Unemployment Claims: 237K > 230K (forecast) > 229K (previous) → Jobless claims rise → USD down → Gold supported. 🔺 ISM Services PMI: 52.0 > 50.9 (forecast) > 50.1 (previous) → Services expand → USD stronger → Gold under pressure. 👉 Overall: 2 out of 3 data points came in negative for the USD, creating downward pressure on the dollar and supporting gold. Even though services data was positive, market sentiment still leans toward expectations of a less hawkish Fed → easing yields → gold benefits. Preferred Strategy: Look for potential buying zones at support and Fibonacci retracement levels. The main target is a safe move above the trendline, with 3575 in focus. Risk: If price closes below support, wait for fresh signals to identify safer entry points. So, what do you think? Where will XAUUSD head next, and at what price will today’s session end? Good luck!
OANDA:XAUUSD
by Kevinn_Nguyen
40
GOLD → Strong bullish trend. What are the targets?FX:XAUUSD continues to rally on positive fundamentals that emerged at the end of last week. The market is pricing in an almost 100% cut in interest rates, which is weakening the dollar and supporting the metal... Gold is holding close to its record high of $3,600 after extremely weak US employment data for August. This has reinforced expectations of a 25 bp Fed rate cut this month. This week, attention is focused on the release of US inflation data (CPI and PPI). Inflation data in the US will confirm or adjust expectations for Fed policy easing. If inflation remains high, this could delay aggressive rate cuts and cause a correction in gold. For now, the bullish trend continues. Resistance levels: 3615, 3634, 3650 Support levels: 3600, 3578 Technically, a strong bullish trend. Growth may continue after price consolidation above 3614-3615 or after a slight correction to support at 3600 relative to the current local rally. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
25
GOLD → False breakout at 3500. What next? 3400 or 3600?FX:XAUUSD updates its ATH on the spot market to 3508.5 and forms a false breakout, provoking liquidation and profit-taking. The imbalance in the market is changing, and a deeper correction is possible... Gold updated its historical maximum above $3500, but faced a correction amid a short-term strengthening of the dollar. The market's attention is focused on the US ISM Manufacturing PMI data, which may determine further dynamics. Key drivers: The probability of a rate cut in September is estimated at 90%, which supports gold. Pressure on the USD continues due to concerns about the independence of the Fed (pressure from Trump) and geopolitics. The escalation of the Russia-Ukraine conflict (new strikes by the Armed Forces of Ukraine on Russian territory) is increasing demand for defensive assets. Ahead of the ISM Manufacturing PMI: Forecast — growth to 49 (but remains in the contraction zone). If the data turns out to be weaker, it will strengthen dollar sales and push gold to new records. Resistance levels: 3485, 3500 Support levels: 3467.6, 3441, 3423 Technically, gold may enter a longer consolidation or correction. If the bears keep the price below 3490-3485, then in the short term, we can expect a decline to the specified support zones. I do not rule out the possibility of a retest of 3500-3505, but at the moment I do not see the potential for the market to continue growing (in the short term!). Best regards, R. Linda!
FX:XAUUSDShort
by RLinda
25
Gold Continues to Create New HistoryHello, it’s a pleasure to see you again in today’s discussion about OANDA:XAUUSD . In this analysis, I have chosen the D1 chart for evaluation. At the time of writing, gold continues to rise higher. The metal has reached the highest level in history, trading at 3535 USD. Previously, we had expected the 3500 USD level to be filled, and that target has now been achieved. After a strong breakout, a clear candle close has made the Bulls even stronger, as gold continues its upward search with no new peak yet established. The previous resistance has now turned into new support. If a correction occurs, I believe that will be the area for buyers to step in. After that, the medium-term target will be in the range of 3600 – 3700 USD. And you, how do you evaluate the next move of XAUUSD? Leave your thoughts in the comments! Events to watch this week: Wednesday, Sep 3: JOLTS Job Openings Thursday, Sep 4: ADP Non-Farm Employment Change, Unemployment Claims, ISM Services PMI Friday, Sep 5: Average Hourly Earnings, Non-Farm Employment Change, Unemployment Rate These are all key U.S. economic data releases with the potential to create strong volatility in gold.
OANDA:XAUUSD
by Kevinn_Nguyen
34
GOLD 1H CHART ROUTE MAP UPDATE & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels with a gap above at 3593 and a gap below at 3562. We will need to see ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. 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 3593 EMA5 CROSS AND LOCK ABOVE 3593 WILL OPEN THE FOLLOWING BULLISH TARGETS 3613 EMA5 CROSS AND LOCK ABOVE 3613 WILL OPEN THE FOLLOWING BULLISH TARGET 3638 EMA5 CROSS AND LOCK ABOVE 3638 WILL OPEN THE FOLLOWING BULLISH TARGET 3658 BEARISH TARGETS 3562 EMA5 CROSS AND LOCK BELOW 3562 WILL OPEN THE FOLLOWING BEARISH TARGET 3528 EMA5 CROSS AND LOCK BELOW 3528 WILL OPEN THE SWING RANGE 3492 3470 EMA5 CROSS AND LOCK BELOW 3470 WILL OPEN THE SECONDARY SWING RANGE 3438 3408 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
15
THE KOG REPORTTHE KOG REPORT: In last week’s KOG report we said we would be watching the open for a support level to form below and price to attempt the red box, which worked well. It’s that red box we said needed to be watched for the break, which if happened would see us attempt higher price starting with 3468 and above that 3485-90. Again, we broke, hit our targets on the chart and the red box targets early week. We then released the NFP Report which gave the key level and the bias for the move. As you can see on that report, we managed to get almost a pip prefect move from the key level upside, nearly into the target level where we suggested the opportunity to short may come from this week So, what can we expect in the week ahead? For this week we have Cpi and PPi midweek so there is potential for this to either range up here, or, like we suggested in the NFP Report, a tap above and a move downside. What we would ideally like to see here is support attacked, defended, a move upside in to the 3606-10 region with extension into the 3620 level and a rejection from above. So, in this scenario, due to the stretch, we’re happy to test these levels with sensible risk but due to that stretch and the mean being way below, if we break above that 3620 level, we’re happy to let it go to where it wants before looking for a reversal. We’re going to keep it simple, lets see how we open and then we’ll have a better idea of what to expect for the rest of the week. As usual, we’ll update traders through the week with our plans and trades. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
31
GOLD → Consolidation in the ATH zone. Risk zone...FX:XAUUSD hit a new all-time high of around $3,550 as investors worldwide rushed to safe-haven assets. As prices rise, the risk of profit-taking increases, especially with news coming up... The key driver is the crisis in the bond market: long-term government bond yields are rising sharply in the UK and Japan. This is boosting demand for gold as a safe haven. We should also not forget about expectations of Fed easing: weak employment data could increase bets on a rate cut in September. However, strong US employment data (starting with JOLTS today) could support the USD and limit gold's growth. Correction: Record levels could trigger profit-taking, especially given that the price has come a long way since the last pullback, rising nearly 6% (7 days of growth). Key factor: US labor market data (JOLTS today, NFP on Friday). Weak figures will strengthen gold, strong ones may cause a correction. Resistance levels: 3546, 3550, 3575 Support levels: 3526, 3508, 3500 Technically, a retest of resistance at 3342-2246 could lead to a breakout and further growth. However, since the price has stopped updating its highs locally, I do not rule out the possibility of a retest of support at 3529-3526 before further growth. However, a weak reaction to support could lead to the formation of a pre-breakdown base, and a breakdown of support could trigger a decline to 3500. Best regards, R. Linda!
FX:XAUUSD
by RLinda
24
Lingrid | GOLD Price Correction and Bullish Trend ContinuationOANDA:XAUUSD has surged to test the resistance zone above 3,500 after strong bullish momentum carried price through the wedge breakout. The structure is defined by an upward channel, with the latest higher low aligning with trend continuation. As long as price holds above 3,490, the bullish bias remains intact, targeting the 3,600–3,620 zone. The broader pattern favors trend extension unless a deep pullback invalidates momentum. 📉 Key Levels Buy trigger: Hold above 3,490 resistance Buy zone: 3,490–3,500 support retest region Target: 3,590–3,600 resistance Invalidation: Breakdown below 3,490 💡 Risks Strong rejection from resistance zone near 3,550 leading to corrective retracement. Unexpected USD strength from macroeconomic releases weighing on gold. Bond yield spikes undermining safe-haven demand for gold. If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
OANDA:XAUUSDLong
by Lingrid
27