Technical analysis by FXNEWSCLUB about Symbol PAXG on 7/17/2025

Technical Analysis – 4H Chart Gold is trading within a rising channel, but momentum is weakening. The current price action is testing the lower channel support around $3,320 — a critical level for the next directional move. 🟥 Bearish Scenario: Break & close below $3,320 could confirm channel breakdown Target: $3,219 support zone Bearish engulfing seen on higher timeframe adds pressure 🟩 Bullish Scenario: If $3,320 holds as support and price bounces back: Possible move toward upper channel resistance around $3,401 🌍 Fundamental Outlook Recent CPI data was soft, but no strong bullish push yet Focus on upcoming U.S. economic releases (employment, PMI, retail sales) Strong data = Hawkish Fed = Bearish for Gold Weak data = Dovish Fed = Bullish for Gold