Gold Forms Double Top as Risk Sentiment Recovers【May 15, 2025】
Fundamental Analysis
Reports of U.S.–South Korea currency negotiations have triggered a sharp appreciation in the Japanese Yen.
Full removal of sanctions on Syria may act as a bearish factor for crude oil.
XAUUSD Technical Analysis
XAUUSD is forming a double top pattern, with USD 3200 acting as the neckline. Currently, the 52-day moving average is functioning as a support level, but the price is trading below the neckline.
It is essential to assess whether the 52-day MA support or the neckline resistance will hold stronger.
The Ichimoku Kinko Hyo indicates that the Chikou Span is below the candlesticks, and the Tenkan-sen is below the Kijun-sen. While this does not constitute a strong sell signal, it does suggest rising bearish pressure.If the neckline holds as resistance and XAUUSD breaks below the 52-day MA, a short entry may be considered.
EURUSD／Daily
Intraday Trading Strategy (1-Hour Chart)
On the 1-hour chart, XAUUSD is showing a clear downtrend. Ichimoku signals continue to indicate bearish momentum. Although the 52-day MA on the daily chart is a concern, a test of the USD 3140 level remains possible.
Trading Plan:
Sell on a pullback near USD 3200
Stop-loss: USD 3215
Take profit: near USD 3140
The double top pattern on the daily chart is well-defined, and more traders are likely to take notice.
Support & Resistance Levels to Watch:
- 3200USD – neckline of the double top pattern
Gold Market Sentiment
- Sell: 49%,Buy: 51％
Key Economic Events Today
EventTime (JST)Australia: Employment Change, Unemployment Rate10:30UK: Gross Domestic Product (GDP)15:00Eurozone: Gross Domestic Product (GDP)18:00U.S.: Retail Sales, Philadelphia Fed Manufacturing Index21:30Fed Chair Powell Speech21:40
*Trading advice in this article is not provided by Milton Markets, but by Shu Fujiyasu Jr., a certified technical analyst.
Risk Disclaimer
This analysis is for educational purposes only and does not constitute investment advice. Trading forex and CFDs involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results.
This analysis is for educational purposes only and does not constitute investment advice. Trading forex and CFDs involves significant risk and may not be suitable for all investors. Past performance is not indicative of future results.
