“`html
Market Recap
Gold has been on a historic tear, breaching $3,000/oz intraday on March 14 and 17, 2025, marking a 210-day sprint from $2,500 to $3,000—a pace three times faster than historical $500 increments. While profit-taking pushed prices to $3,034.02 on March 21, bullish tailwinds like geopolitical tensions, Fed rate-cut expectations, and a weaker USD remain intact. For traders, platforms like Exness offer robust tools to capitalize on this volatility.
Current Price Action and Trends
Price Level:
Gold (XAU/USD) trades near $3,030–$3,034, consolidating after hitting a record $3,057.21 on March 20.
Trend:
Bullish momentum persists, though short-term profit-taking has introduced consolidation. The 14-day RSI hovers near 70.5, signaling overbought conditions.
Key Levels:
- Support: $3,000 (psychological), $2,945 (21-day SMA).
- Resistance: $3,056.30 (recent high), $3,080 (ascending triangle target).
- Long-Term Target: $3,080–$3,085 if breakout momentum resumes.
Trading Strategy for XAU/USD
Entry Points
- Pullback Entry: Buy on dips toward $3,023–$3,022, targeting $3,056.30.
- Breakout Entry: Enter above $3,056.30, aiming for $3,080.
Risk Management
- Stop Loss (SL): Place below $3,000 to protect against a decisive breakdown.
- Take Profit (TP): Set at $3,080 (triangle target) or $3,085 (resistance).
Key Indicators to Monitor
- RSI: Watch for a pullback below 70 to confirm overbought conditions easing.
- Moving Averages: The 20 SMA ($2,941.70) and 21-day SMA ($2,945) provide dynamic support.
Rationale for Strategy
Bullish Drivers: Geopolitical risks (Middle East, Russia-Ukraine), Fed rate-cut bets, and USD weakness underpin demand.
Volatility: Trump’s tariff threats and Fed policy uncertainty could amplify price swings.
Final Advice
Gold’s near-term trajectory hinges on whether $3,000 holds as support. If it does, a rebound toward $3,080 is likely. Stay vigilant for Fed speeches, PCE data, and geopolitical developments. For intraday trades, leverage the 4-hour chart’s 20 SMA ($3,027.26) as a pivot point. Always prioritize risk-reward ratios (1:2 or better) and avoid over-leveraging during consolidation phases.
“`