XAUUSD today : Gold prices continued their sharp decline during today’s trading, after breaking key support levels, influenced by the strength of the US dollar and improved risk appetite in global markets.
The price is currently trading near the psychological barrier of $3,200 per ounce, amid anticipation of tomorrow’s US employment data, which could determine the precious metal’s trajectory over the coming week.
Technical analysis of XAUUSD today: Market Overview
- The general trend for gold has clearly turned bearish in the short term.
- The price has broken the support levels of 3227 and 3210, and is now trading near 3200.
- There are no rebound signals yet, and the momentum remains negative.
- Any break of the 3190 level could trigger an additional downward wave.
Technical Indicators Analysis:
- Moving Averages (EMA):
- The price is below all averages (50, 100, and 200).
- The technical bias is bearish and accelerating.
- MACD:
- In the negative zone with strong selling momentum.
- The bars are increasing negatively, without a positive crossover.
- Stochastic:
- Moving near oversold levels (<20).
- There is no clear rebound signal yet.
XAUUSD today : Expected Technical Scenarios:
Bullish Scenario (Limited Rebound):
- If it holds above 3190, we may witness a rebound to:
o 3208
o 3217
Bearish Scenario (Strongly Likely):
- A break of 3190 will trigger a decline towards:
o 3175
o 3165
Total points not exceeding 10 points as requested.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 3227.49 | 3209.85 |
| Target Point 1 (TP1) | First resistance: 3237.70 | First support: 3198.62 |
| Target Point 2 (TP2) | Second resistance: 3247.70 | Second support: 3188.62 |
| Stop Loss (SL) | 3209.85 | 3227.49 |
Gold is under clear selling pressure, and the price is now testing a critical breakout area around $3200. Technical momentum and upcoming US data indicate a likely continuation of the downtrend, with stronger selling opportunities if 3190 is broken.
Awaiting Economic Data:
- Friday, May 3, 2025:
- US Nonfarm Payrolls (NFP) Report
- Unemployment Rate
This data is pivotal for gold’s movement, as it directly affects the Federal Reserve’s monetary policy expectations, and consequently, the dollar and yields.
