Fundamental Analysis

• Gold closes above 3000USD.
• The Trump administration is increasing pressure on Iran.

XAUUSD Technical Analysis

Analyzing the daily chart of Gold. Gold broke the recent high and reached the 3000USD level. This represents a 1000USD increase in just one year, indicating strong demand for safe-haven assets. The baseline has acted as support twice, forming a double bottom pattern with higher lows, leading to new highs.

Since Gold broke above 3000USD, strong selling pressure could emerge at any time due to a sense of achievement. While chasing highs is risky, fundamental factors suggest that Gold may continue its long-term uptrend.

Day trading strategy (1 hour)

Analyzing the 1-hour chart of Gold. Gold had been trading in a range, but even after reaching 3000USD, no significant selling pressure was observed. Although it fell to 2978USD, the price stayed within a narrow range and is now attempting to break above the upper range again.

Avoid chasing highs. Place a buy limit order at 2979USD. Set the target for profit-taking around 3028USD. Set the stop-loss below 2959USD.

Support/Resistance lines

Key support and resistance lines to consider:

• 3028USD – Major resistance
• 3004USD – Recent high

Market Sentiment

XAUUSD Sell: 72% / Buy: 28%

Today’s important economic indicators

*Trading advice in this article is not provided by Milton Markets, but by Shu Fujiyasu Jr., a certified technical analyst.