Slobodan Drvenica
Windsor Brokers
XAU/USD
Gold price dips below important support at $2900 where the price action showed hesitation in past two days, but initial negative signal from double downside rejection and long tails of daily candles, is likely to be offset by fresh drop today.
It seems that investors opted for stronger profit-taking after President Trump signaled that tariffs on imports from Canada and Mexico could be postponed for another months, with deeper pullback to provide better buying levels.
The notion is supported by growing uncertainty over tariffs and threats of trade war, while geopolitical situation remains fragile that keeps strong safe haven demand.
Close below $2900 to validate fresh bearish signal and expose supports at $2868 (Fibo 23.6% of $2582/$2959 upleg) and $2845 (30DMA) with dips expected to find ground at $2813/10 zone (Fibo 38.2% / lower 20-d Bollinger band) to mark healthy correction and keep larger bulls in play.
Res: 2900; 2919; 2942; 2956.
Sup: 2868; 2845; 2810; 2769.
Interested in XAU/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
EUR/USD remains offered near the 1.0800 zone
On Monday, EUR/USD remains rangebound around 1.0800, as risk-averse sentiment keeps the US Dollar buoyant amid ongoing tariff concerns, while investors remain wary ahead of "liberation day".
Gold holds near fresh records, rally far from over
Gold surged toward a record-setting $3,150 in the second half of the day as safe-haven flows amid escalating global tariff war fears and US economic concerns weighing on Treasury yields propelled XAU/USD higher.
GBP/USD breaks below 1.2900, daily lows
The selling pressure continues to hurt the risk-associated assets at the beginning of the week and now sends GBP/USD back to the sub-1.2900 region, or daily troughs.
Seven Fundamentals for the Week: “Liberation Day” tariffs and Nonfarm Payrolls to rock markets Premium
United States President Donald Trump is set to announce tariffs in the middle of the week; but reports, rumors, and counter-measures will likely dominate the headline. It is also a busy week on the economic data front, with a full buildup to the Nonfarm Payrolls (NFP) data for March.
US: Trump's 'Liberation day' – What to expect?
Trump has so far enacted tariff changes that have lifted the trade-weighted average tariff rate on all US imports by around 5.5-6.0%-points. While re-rerouting of trade will decrease the effectiveness of tariffs over time, the current level is already close to the highest since the second world war.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.