Gold Pulls Back Slightly Ahead of U.S. PCE Data

29 ago

📊 Market Dynamics:
Gold eased to around $3,408/oz due to profit-taking after the recent rally, while investors await U.S. PCE inflation data – a key indicator that could influence the Fed’s rate-cut decision.

📉 Technical Analysis:
• Key Resistance: $3,425 – $3,430
• Nearest Support: $3,400 – $3,395
• EMA 09: Price remains above EMA 09, keeping the bullish bias intact.
• Candlestick / Momentum: H1 candles show long lower wicks around $3,400, signaling potential buying pressure.

📌 Outlook:
In the short term, gold may consolidate around $3,400 and rebound if PCE data reinforces expectations of an imminent Fed rate cut.

💡 Suggested Trading Strategy:
🔻 SELL XAU/USD: $3,427 – $3,430
🎯 TP: 40/80/200 pips
❌ SL: $3,433
🔺 BUY XAU/USD: $3,397 – $3,400
🎯 TP: 40/80/200 pips
❌ SL: $3,394

29 ago

Trade attivo

In the European session, gold remains sideways and will only confirm direction if it breaks above $3315 for upside or falls below $3300 for downside.

29 ago

Trade chiuso: obiettivo raggiunto

Gold was rejected at $3415; if it breaks above, it may target $3423–3430, but if it fails, it could retreat toward $3400