Fundamental Analysis
Meanwhile, the US Dollar (USD) is struggling to capitalize on a three-day rally from multi-month lows amid expectations that a tariff-driven US economic slowdown could force the Federal Reserve (Fed) to resume its rate-cutting cycle soon. This, coupled with geopolitical risks, acted as a non-yielding driver for Gold and helped limit downside momentum. Hence, it would be prudent to wait for a strong follow-through before confirming that XAU/USD has topped out in the near term and positioning for any meaningful corrective slide.
Technical Analysis
Friday's D1 saw strong selling pressure with the sharpest drop from 3046 to 3000. Late in the day, bulls pushed the price back 50% of the D candle. This shows that bears have entered the market but the downtrend will take some time.
The h4 structure is quite nice to see the buy and sell wave structure.
Scenario 1: In the 3026 zone of the European session, selling pressure has appeared. If the price pushes up to break the 3026 zone at the end of the session, it will give a BUY signal, break 3026, target 3037. When the US session breaks 3037, keep the order until 3045. The 3045 zone gives a good SELL signal for today if the price finds it. When the price reaches 3037 and cannot break this zone when the US enters, it can SELL to 3026, further than 3018. Scenario 2: The price does not break 3026 but falls, then wait for support around 3013 and support 3003.
Meanwhile, the US Dollar (USD) is struggling to capitalize on a three-day rally from multi-month lows amid expectations that a tariff-driven US economic slowdown could force the Federal Reserve (Fed) to resume its rate-cutting cycle soon. This, coupled with geopolitical risks, acted as a non-yielding driver for Gold and helped limit downside momentum. Hence, it would be prudent to wait for a strong follow-through before confirming that XAU/USD has topped out in the near term and positioning for any meaningful corrective slide.
Technical Analysis
Friday's D1 saw strong selling pressure with the sharpest drop from 3046 to 3000. Late in the day, bulls pushed the price back 50% of the D candle. This shows that bears have entered the market but the downtrend will take some time.
The h4 structure is quite nice to see the buy and sell wave structure.
Scenario 1: In the 3026 zone of the European session, selling pressure has appeared. If the price pushes up to break the 3026 zone at the end of the session, it will give a BUY signal, break 3026, target 3037. When the US session breaks 3037, keep the order until 3045. The 3045 zone gives a good SELL signal for today if the price finds it. When the price reaches 3037 and cannot break this zone when the US enters, it can SELL to 3026, further than 3018. Scenario 2: The price does not break 3026 but falls, then wait for support around 3013 and support 3003.
Trade active
There is confirmation at 3026 zone for BUY signalTrade closed: target reached
buy zone 3026 +70 pips. sell zone when price doesn't break 3037 +200 pipsNote
waiting new strategy
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.