Gold Approaches Key Resistance – Minor Pullback Possible

📊 Market Overview:
Gold prices continue their upward momentum and have now reached $3,367/oz, as markets await the upcoming U.S. Nonfarm Payrolls (NFP) report later this week. The U.S. dollar is slightly weaker and Treasury yields are stable, helping gold maintain its strength. However, mixed forecasts from major financial institutions are creating psychological pressure on investors.

📉 Technical Analysis:
• Key Resistance: $3,390 – $3,440
• Nearest Support: $3,330 – $3,300
• EMA: Price remains above both EMA 50 and EMA 9 → indicating a sustained uptrend.
• RSI (H4): Near 66 → not overbought yet, but limited room for further upside.
• Candle pattern: Recent H1 candles show long upper wicks → signaling profit-taking at higher levels.

📌 Outlook:
Gold may face a minor short-term correction if it fails to break above the $3,390 resistance area, especially as the upcoming U.S. jobs report could potentially strengthen the U.S. dollar.

💡 Suggested Trading Strategy:
SELL XAU/USD at: $3,375 – $3,390
🎯 TP: $3,355
❌ SL: $3,405
BUY XAU/USD at: $3,345 – $3,330
🎯 TP: $3,365
❌ SL: $3,315