empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
03.07.2024 04:05 PM
XAU/USD: a gap from 2318.00
Open trading account Open demo account

This image is no longer relevant

In an alternative scenario, if the 2318.00 mark is breached, the decline could continue to the lower boundary of the range and support levels at 2300.00 and 2285.00. A subsequent rebound and growth are most likely from these levels.

The dollar remains under pressure following recent publications and events.

Market participants are now awaiting Friday's labor market report, which could become a new driver for dollar movement. Forecasts suggest that +190.0 thousand new non-farm jobs were created in June, down from the previous +272.0 thousand, and the average hourly wage slowed from +4.1% to +3.9% year-over-year.

Speaking on Tuesday in Sintra, Portugal, at the annual central bank event, Fed Chair Jerome Powell said that recent data indicates a slowdown in inflation rates and its movement towards the 2.0% target, which could be achieved by the end of 2025 or in 2026.

"Inflation is moving in the right direction," and "the risks are becoming much more balanced," Powell said. His speech was deemed neutral by investors but was received with caution regarding his characterization of the national labor market as "cooling." "The labor market is cooling," Powell said, adding that "if the labor market unexpectedly weakens, it will also prompt us (the Fed) to respond."

This image is no longer relevant

Powell's speech intensified discussions about the possibility of the first Fed rate cut in September. Markets still expect the Fed to cut interest rates twice this year, ignoring the Fed leaders' baseline scenario, which implies only one cut.

If employment growth slows again and unemployment rises, this will be an additional argument for the Fed to transition to a more accommodative monetary policy soon.

Today, market participants are awaiting a series of important events and publications.

If these disappoint investors, we can expect a new wave of dollar weakening ahead of Friday's release of U.S. labor market data and a rise in the XAU/USD pair, as expectations of Fed monetary policy easing positively impact gold prices and negatively affect dollar quotes.

A breakthrough of today's high at 2349.00 could trigger further growth in XAU/USD, which has been unable to break away from the support level of 2318.00 (EMA50 on the daily chart) for the past month and develop a more confident upward movement.

Overall, XAU/USD continues to trade in the medium- and long-term bullish markets, above the key support levels of 2173.00 (EMA200 on the daily chart) and 1900.00 (EMA200 on the weekly chart).

This image is no longer relevant

Therefore, from a technical standpoint, long-term and medium-term positions remain preferable.

In an alternative scenario, after breaking the 2318.00 mark, the decline could continue to the lower boundary of the range and the support levels of 2300.00 and 2285.00, from which a subsequent rebound and growth are likely.

Only a break of the key support levels at 2173.00 (EMA200 on the daily chart) and 2150.00 (EMA50 on the weekly chart) will bring XAU/USD into the medium-term bearish market zone.

Overall, the upward momentum of the XAU/USD pair prevails.

In the main scenario, we expect the resumption of growth and further increase in price towards the upper boundary of the range and the levels of 2368.00 and 2380.00. After breaking through these levels, the price could move towards 2500.00 and 2600.00. More ambitious forecasts suggest that gold prices could rise to 3000.00 dollars per ounce this year.

Support levels: 2330.00, 2329.00, 2327.00, 2318.00, 2300.00, 2285.00, 2222.00, 2173.00, 2150.00

Resistance levels: 2368.00, 2380.00, 2400.00, 2430.00, 2450.00, 2500.00, 2600.00

Trading Scenarios

Main Scenario: Buy Stop 2351.00, Stop-Loss 2339.00.

Targets: 2360.00, 2380.00, 2400.00, 2430.00, 2450.00, 2500.00, 2600.00

Alternative Scenario: Sell Stop 2339.00, Stop-Loss 2350.00

Targets: 2330.00, 2329.00, 2327.00, 2318.00, 2300.00, 2285.00, 2222.00, 2173.00, 2150.00

Jurij Tolin,
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
All Analytics
Wave analysis
EUR/USD Analysis – March 28th The wave structure on the 4-hour chart for EUR/USD threatens to evolve into a more complex formation. A new downward structure began forming on September 25, taking the shape
Chin Zhao
20:10 2025-03-28 +02:00
2380
Wave analysis
GBP/USD Analysis – March 28th The wave structure of the GBP/USD instrument remains somewhat ambiguous, but overall digestible. At this stage, there is a strong likelihood that a long-term downward trend segment is forming. Wave
Chin Zhao
20:07 2025-03-28 +02:00
2080
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

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

USD/JPY: Simple Trading Tips for Beginner Traders on March 28. Review of Yesterday's Forex Trades

The price test at 150.91 occurred when the MACD indicator had just begun moving upward from the zero mark, confirming a valid entry point for buying the dollar
Jakub Novak 08:01 2025-03-28 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 28. Review of Yesterday's Forex Trades

The price test at 1.2927 occurred when the MACD indicator started moving down from the zero mark, confirming a valid entry point for selling the pound. However
Jakub Novak 08:00 2025-03-28 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 28. Review of Yesterday's Forex Trades

The price test at 1.0806 occurred when the MACD indicator had already moved significantly above the zero mark, which limited the pair's upside potential. For that reason, I didn't
Jakub Novak 08:00 2025-03-28 UTC+2

Intraday Strategies for Beginner Traders on March 28

The euro and the pound have shown that no one is ready for a major sell-off. However, there was no active support from big market participants positioned for long positions
Miroslaw Bawulski 07:15 2025-03-28 UTC+2

USDJPY: Simple Trading Tips for Beginner Traders on March 27th (U.S. Session)

Trade analysis and tips for trading the Japanese yen The test of the 150.27 level occurred when the MACD indicator had just begun to rise from the zero mark, confirming
Jakub Novak 18:04 2025-03-27 UTC+2

GBPUSD: Simple Trading Tips for Beginner Traders on March 27th (U.S. Session)

Trade analysis and tips for trading the British pound The test of the 1.2905 level occurred when the MACD had already moved significantly below the zero line, which limited
Jakub Novak 18:02 2025-03-27 UTC+2

EURUSD: Simple Trading Tips for Beginner Traders on March 27th (U.S. Session)

Trade analysis and tips for trading the euro The test of the 1.0772 level occurred when the MACD indicator had just begun to move downward from the zero mark, confirming
Jakub Novak 17:59 2025-03-27 UTC+2

Top analytics

Relevance up to 09:00 UTC--4
Trading Signals for GOLD (XAU/USD) for March 28-31, 2025: sell below $3,078 (technical correction - 21 SMA)
15:12 2025-03-28
Technical analysis
Relevance up to 02:00 2025-03-31 UTC--4
US stock market: Trump's tariffs halt uptrend, so benchmark stock indices consolidating. PCE data on investors' radars today
09:46 2025-03-28
Stock Markets
Relevance up to 09:00 UTC--4
Trading Signals for EUR/USD for March 28-31, 2025: sell below 1.0775 (21 SMA - 6/8 Murray)
15:09 2025-03-28
Technical analysis
Relevance up to 08:00 UTC--4
Trading Signals for EUR/USD for March 27-29, 2025: buy above 1.0790 (21 SMA - 8/8 Murray)
14:55 2025-03-27
Technical analysis
Relevance up to 08:00 UTC--4
Trading Signals for GOLD (XAU/USD) for March 27-29, 2025: sell below $3,057 (double top - 7/8 Murray)
14:54 2025-03-27
Technical analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

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.