Gold Falling Toward 3345 Support

23 giu

📊 Market Overview

After failing to break the 3,389 resistance zone this morning, gold remains under pressure from profit-taking and a stronger USD. The price has dropped to around $3,360/oz, reflecting defensive sentiment amid ongoing geopolitical tensions in the Middle East.

📉 Technical Analysis

• Key Resistance: 3,389 – 3,400
• Nearest Support: 3,345 – 3,324
• EMA-09: Price is below the EMA-09 on the H1 chart → short-term bearish trend
• Candle Patterns / Volume / Momentum:
o M15 & H1 candles remain bearish
o RSI hovers around 45 → indicating continued correction
o No clear reversal signals yet

📌 Outlook

Gold may continue to decline slightly in the short term if the USD stays strong and no geopolitical surprises arise. However, the 3345 support zone could attract dip buyers.
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💡 Suggested Trading Strategy

🔻 SELL XAU/USD at: 3,360 – 3,365
🎯 TP: 3,335 – 3,325
❌ SL: 3,372

🔺 BUY XAU/USD at: 3,320 – 3,324
🎯 TP: 3,340 – 3,344
❌ SL: 3,310

23 giu

Trade attivo

Short‑term Gold Trend: Bullish Bias as USD Strengthens