Happy Friday, dear traders! Welcome! We have come with the world’s most popular trading pair: Gold. Let’s dive into the analysis without delay.

GOLD (XAUUSD) Price Update – Trendline Retest | Gold Technical Analysis by Guriforex

Gold (XAUUSD) has been on a strong bullish run, but the price action suggests that a key moment is approaching. The price is currently testing a major trendline support around $2918 – $2920, and traders are closely watching for a breakout or a bounce.

If buyers defend this level, we could see another upward push. However, if xauusd breaks below this key support, a strong bearish move may be in play, leading to further downside toward the $2880 target.

📊 GOLD Trade Setup & Market Analysis

🔽 Sell XAUUSD IF it breaks below $2920
🎯 Target Profit (TP): $2880
🛑 Stop Loss (SL): $2938

🔎 XAUUSD Technical Overview

• XAUUSD has maintained an uptrend, supported by a rising trendline.
• The $2920 level is critical – a break below may confirm a bearish reversal.
• Resistance remains near $2938, where sellers could step in.
• If the trendline holds, buyers may attempt to push gold back up, but caution is advised.

🌍 Market Sentiment & Global Factors

💰 US Dollar & Federal Reserve Policy:

• The US Dollar (DXY) remains strong, fueled by expectations of a higher-for-longer interest rate stance from the Federal Reserve.
• Higher interest rates tend to weaken XAUUSD, as they make non-yielding assets like gold less attractive.

Stock Market Volatility:

• Investors are monitoring global economic data and geopolitical tensions, which could drive safe-haven demand.
• If risk appetite declines, XAUUSD may find support; otherwise, further downside is possible.

📊 Inflation & Bond Yields:

• Higher US Treasury yields are putting pressure on gold.
• Any surprises in upcoming inflation reports could lead to sharp moves in XAUUSD prices.

📉 Bearish Scenario – Key Levels to Watch

Break below $2920 = SELL opportunity
$2938 remains strong resistance
Downside target: $2880

🔥 What’s your GOLD outlook?
If you trade XAUUSD, hit the 👍 & share your thoughts below! 🚀