Market Overview
Gold (XAU/USD) is currently trading within a broad sideways range between 3246 and 3216, showing signs of indecision and hesitation. Technical indicators suggest the metal is in overbought territory, while buying momentum has weakened compared to last week. FOMO sentiment has notably cooled off.
This sets the stage for a possible liquidity sweep before any renewed bullish momentum toward the $3300 level. Traders are advised to monitor the European and U.S. sessions closely for clearer direction.
Key Technical Levels
Resistance: 3246 (ATH), 3255, 3268, 3285, 3302
Support: 3216, 3195, 3172, 3152, 3120
Suggested Trade Setups
✅ Buy Zone:
Entry: 3172 – 3170
Stop Loss: 3166
Take Profit Targets: 3176 → 3180 → 3184 → 3188 → 3192 → 3196 → 3200
🔻 Sell Zone:
Entry: 3268 – 3270
Stop Loss: 3274
Take Profit Targets: 3264 → 3260 → 3256 → 3252 → 3248 → 3244 → 3240
Weekly Outlook
There are no major economic news releases scheduled this week, so the focus will shift to monitoring market volume and session activity for trade confirmations. The European and U.S. trading hours will likely provide the best opportunities to assess momentum shifts.
Important Reminder
⚠️ Despite the calm news calendar, volatility remains elevated, and sudden price spikes are still possible. Stick to your TP/SL levels for proper risk management and capital preservation. Trade with discipline. 🛡
