XAU/USD outlook: Drop below triangle support line weakens near term structure

Slobodan Drvenica Windsor Brokers

XAU/USD

Gold remains firmly in red (down 1.2% until early US trading on Monday), as traders collected profits after repeated rejection at pivotal $3400 resistance zone (psychological / upper boundary of daily triangle pattern).

Fresh weakness broke below the triangle’s lower boundary ($3360) shifting near term focus lower, with close below triangle support line to validate bearish signal.

Gold price was dragged lower by strong fall of gold futures, which spiked to new record high on Friday (spot did not follow) on signals that Trump’s administration had imposed import tariffs on 1kg gold bars, although the White House is still to issue an executive order to clarify its stance on tariffs that eased an upside pressure.

Markets also await more information about potential Trump – Putin meeting, as well as Tuesday’s release of US July inflation report, which will provide more details for the US central bank about monetary policy path in coming months.

Technical picture has weakened on daily chart (14-d momentum is heading deep into negative territory / Stochastic reversed from overbought zone) that opens the way for test of immediate support at $3338 (daily Tenkan-sen / 50% retracement of $3268/$3408 upleg) and more significant supports at $3328 / 21(daily Ichimoku cloud top / Fibo 61.8% retracement).

Res: 3354; 3360; 3375; 3400.

Sup: 3338; 3328; 3321; 3300.

Interested in XAU/USD technicals? Check out the key levels

1. R3 3448.88
2. R2 3427.14
3. R1 3384.94
PP 3363.2
1. S1 3321.01
2. S2 3299.27
3. S3 3257.07

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold pushes back above $5,000

The daily chart shows spot Gold in a parabolic uptrend that accelerated sharply from the $4,600 area in late January, printing a record high at $5,598.25 before a violent reversal erased nearly $1,000 in value during the final days of the month.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.