Technical analysis by m0bh4y4t about Symbol PAXG: Buy recommendation (7/7/2025)

Market Outlook Summary – XAU/USD (Gold vs US Dollar) Date: July 7, 2025 I am closely monitoring the current market structure for XAU/USD, guided by a combination of Elliott Wave analysis, key support and resistance zones, and Fibonacci projections. At present, gold is trading around $3,310.82. Our analysis identifies two important zones: A Sell Zone near $3,345.12, where price may face resistance. A Buy Zone around $3,291.05, offering potential support for bullish opportunities. Additionally, a key Fibonacci extension (1.618) sits at $3,257.63, which could provide further downside protection if prices temporarily dip lower. The recent break above the descending trendline suggests growing bullish momentum. Once the current corrective phase (Wave 2) completes, I anticipate a potential upward move targeting the $3,440–$3,500 range in the medium term. I recommend watching these zones closely for potential trading opportunities and will continue to update you as the market develops.