empty
11.07.2022 08:30 PM
Gold: imminent breakdown

Gold was trading in the red at 1,734 on the H1 chart at the time of writing. In the short term, it continues to move sideways. As you already know from my analyses, the bias remains bearish. The current range pattern could represent a distribution before dropping deeper.

Fundamentally, the yellow metal was expected to drop deeper after the US Non-Farm Employment Change came in at 372K in June versus 260K expected. The Unemployment Rate and the Average Hourly Earnings came in line with expectations. In the short term, it could extend its sideways movement. On Wednesday, the fundamentals could move XAU/USD. The US inflation data, BOC, and the RBNZ are seen as high-impact events.

XAU/USD Strong Bearish Pressure!

This image is no longer relevant

XAU/USD is still trapped between 1,747 and 1,732 levels. You know from my analyses that a valid breakout from this pattern could bring new opportunities. It's premature to talk about long or short setups as long as it's trading inside this formation.

As you can see, the yellow metal registered false breakouts from this formation, so you have to be careful and wait for a fresh opportunity. Now, it has almost reached 1,732, it remains to see how it will react around this key support.

XAU/USD Forecast!

A new lower low, dropping and closing below 1,729 could activate more declines and could bring a new selling signal.

Registering only false breakdowns below 1,732 could announce a new bullish momentum towards 1,747.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on March 31st (U.S. Session)

Trade Breakdown and Tips for Trading the Japanese Yen The price test at 148.84 occurred when the MACD had already moved significantly below the zero mark, limiting the pair's downward

Jakub Novak 20:01 2025-03-31 UTC+2

GBPUSD: Simple Trading Tips for Beginner Traders on March 31st (U.S. Session)

Trade Breakdown and Tips for Trading the British Pound The price test at 1.2935 occurred when the MACD had already moved significantly below the zero mark, which limited the pair's

Jakub Novak 19:58 2025-03-31 UTC+2

EURUSD: Simple Trading Tips for Beginner Traders on March 31st (U.S. Session)

Trade Breakdown and Tips for Trading the Euro The price test of 1.0820 occurred at a time when the MACD indicator had already moved significantly below the zero line, which

Jakub Novak 19:55 2025-03-31 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 31. Review of Yesterday's Forex Trades

The price test at 150.85 occurred when the MACD indicator had already moved significantly above the zero level, limiting the pair's upside potential. For this reason

Jakub Novak 09:35 2025-03-31 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 31. Review of Yesterday's Forex Trades

The price test at 1.2950 occurred when the MACD indicator had already moved significantly above the zero mark, which limited the pair's upward potential. For this reason, I didn't

Jakub Novak 09:35 2025-03-31 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 31. Review of Yesterday's Forex Trades

The price test at 1.0787 occurred at a moment when the MACD indicator had just begun to move upward from the zero mark. This confirmed a correct entry point

Jakub Novak 09:34 2025-03-31 UTC+2

Intraday Strategies for Beginner Traders on March 31

The euro and pound showed gains, but it's still too early to say the downward corrections are over. Buyers will need to exert more effort to alter the current technical

Miroslaw Bawulski 09:34 2025-03-31 UTC+2

USDJPY: Simple Trading Tips for Beginner Traders on March 28th (U.S. Session)

Trade Analysis and Tips for Trading the Japanese Yen The test of the 150.75 level occurred when the MACD indicator had already moved significantly below the zero line, which limited

Jakub Novak 19:04 2025-03-28 UTC+2

GBPUSD: Simple Trading Tips for Beginner Traders on March 28th (U.S. Session)

Trade Analysis and Tips for the British Pound The test of the 1.2950 level occurred just as the MACD indicator began to rise from the zero line, confirming a valid

Jakub Novak 19:00 2025-03-28 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 28th (U.S. Session)

Trade Analysis and Tips for the Euro The price test at 1.0785 occurred when the MACD indicator had already moved significantly below the zero line, which limited the pair's downward

Jakub Novak 18:57 2025-03-28 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.