Gold Tests $3,401 – Breakout or Pullback Ahead?

28 ago

📊 Market Dynamics:
Gold is trading around $3,401/oz, testing a key technical resistance.
The upcoming U.S. PCE data is in focus, with markets pricing in over 88% probability of a 25 bps Fed rate cut, which supports bullish sentiment for gold.
RBC maintains a long-term bullish outlook, forecasting gold could reach $3,722 – $3,813 by 2025–2026.

📉 Technical Analysis:
• Resistance: $3,401 → $3,416 – $3,435
• Support: $3,374 – $3,389 (pivot $3,350 – $3,375)
• Indicators: RSI has eased from overbought; MA50 still supports short-term upside; overall MA signals: Strong Buy.

📌 Outlook:
• Above $3,401: potential extension to $3,416 – $3,435, possibly $3,440.
• Failure to break: a pullback toward $3,374 – $3,389 is possible.

💡 Trading Strategies:

🔻 SELL XAU/USD
Entry: $3,401 – $3,404
🎯 TP: 40 / 80 / 200 pips
❌ SL: $3,407

🔼 BUY XAU/USD
Entry: $3,394 – $3,398
🎯 TP: 40 / 80 / 200 pips
❌ SL: $3,391

28 ago

Trade attivo

Gold is consolidating around $3407, with the short-term trend leaning slightly bearish unless it holds above $3405 to retest the $3414–$3417 zone.

29 ago

Trade chiuso: obiettivo raggiunto

In the short term, gold around $3412 is consolidating and may break up to $3430–3450 if the Fed leans toward easing, but the risk of a pullback to $3380–3390 remains