Greetings, dear trader! Are you looking for trading signals? Today, we come with a technical analysis of the XAUUSD market. Let’s dive into the analysis without delay.
Gold (XAUUSD) Market Analysis & Trading Signal by Guriforex: Gold Faces a Bearish Break After ATH!
XAUUSD (Gold ) has been in a strong bullish rally, recently reaching an all-time high (ATH). However, the price action has now shown signs of exhaustion as it breaks below the ascending trendline, signaling a potential shift in momentum. The market is currently testing a key support level at 2860, and if the price continues downward, we could see further declines.
🔍 XAUUSD Market Key Technical Breakdown
- Trendline Break: The uptrend has been violated, suggesting a bearish correction after the ATH.
- Support Retest: The price is holding near 2860, a key level. If broken, it could lead to further losses.
- Bearish Target: The next support sits at 2840, a critical fractal level that could attract buyers.
📊 Gold Trade Plan & Scenarios
📉 Gold Bearish Outlook
- If XAUUSD remains below 2860, a deeper correction is likely.
- Target: 2840
- Stop-loss: Above 2875 to mitigate risk.
📈 Bullish Reversal?
- If 2860 holds and buyers step in, we may see a bounce back toward 2880-2890.
- A strong USD sell-off could push gold higher again.
📅 Fundamental Factors Impacting Gold
- US Economic Data: The upcoming ISM PMI & ADP Non-Farm Payroll reports could drive volatility in the gold market.
- Dollar Strength: A stronger USD could accelerate XAUUSD’s decline, while a weak USD might support a recovery.
- Investor Sentiment: Safe-haven demand for gold could increase if market uncertainty rises.
📢 What’s Your Bias on XAUUSD?
💰 Are you selling gold on this breakdown, or do you expect a rebound?
💬 Share your thoughts about the XAUUSD Market in the comments.