Technical analysis by pips1000s about Symbol PAXG: Buy recommendation (7/6/2025)

📊 Technical Analysis (15-min chart): 🔹 Chart Pattern: Falling wedge breakout occurred — price broke the short-term descending trendline resistance. Ascending triangle structure also forming, indicating bullish pressure building up. 🔹 Support & Resistance Zones: Resistance Zone:3345 – 3356 (visible supply zone + order block overlap). Support Zone:3327 – 3331 (demand zone + breakout retest area). Key S/R Level: 3345.10 (mid-resistance level, may cause minor rejection or consolidation). 🔹 Trendlines: * The lower ascending trendline is acting as dynamic support. * The breakout above descending trendline increases bullish bias. 🔹 Indicators Used (by your chart): * ICT-style zones (likely Fair Value Gaps or Order Blocks). * Volume spike during breakout. * Risk-reward plotted: \~1:2 RR targeting 3356 zone. 🌍 Fundamental Analysis (as of July 6, 2025): 🔹 Key Drivers Affecting Gold: 1. Geopolitical Uncertainty: Middle East tensions and US-China tech/trade disputes are keeping safe-haven demand alive. Iran-Israel border skirmishes have intensified; risk sentiment may fuel gold upside. 2. Interest Rate Outlook (Fed): Recent dovish tone from the Fed after inflation dropped slightly below 3%. Rate cut speculation for Q3 has increased, weakening USD, supporting gold prices. 3. US Dollar Index (DXY): DXY is under pressure near **103.20**; further downside supports gold strength. 4. Bond Yields: 10Y US yields are stable but slightly down, helping gold hold above 3300. 🧠 Trading Idea 📈 Trade Setup: Buy (Long Bias) Entry: 3336 – 3338 (current market price area or on slight retest of trendline) Stop Loss: Below 3327 (safe under recent swing low) Take Profit Targets: * TP1: 3345 (intermediate resistance) * TP2: 3356 (major resistance + trendline confluence) ✅ Risk-Reward: \~1:2 🔁 Alternative Bearish Scenario: If price fails to hold above 3327 and breaks below ascending trendline → potential drop to 3311. Watch DXY or unexpected hawkish Fed statements as catalysts for reversal. 🕒 Intraday Outlook (July 6, 2025): Bullish bias above 3331 Expect NY session volatility with possible liquidity sweep above 3345 before pullback or extension to 3356.