Technical analysis by Ibrahim_Trade786 about Symbol PAXG: Buy recommendation (7/23/2025)

XAUUSD: Gold Breaks Higher as Dollar Slides – Eyes on June High & All-Time Record Gold (XAUUSD) extended its rally on Tuesday, breaking decisively above the $3,430 mark and reaching fresh multi-week highs. The move was fueled by a sharp decline in the US Dollar Index (DXY), which dropped to two-week lows, and a broad pullback in US Treasury yields. This combination created the perfect storm for bullish momentum in precious metals. From a macro perspective, the market remains risk-sensitive ahead of key US data releases later this week. Trade tensions between the US and EU are escalating, and President Trump’s ongoing anti-Powell narrative is stirring further uncertainty in monetary policy expectations — all of which continue to support safe-haven demand for gold. 🔍 Technical Overview Momentum remains firmly bullish. RSI has climbed above 64, suggesting strong buying pressure. However, ADX near 10 signals a trend that’s gaining traction but not yet in full force. If bulls maintain control, the next upside targets are clearly defined: $3,451 – June 16 swing high $3,500 – All-time record high from April 22 $3,912 / $4,127 – Fibonacci extension targets of the 2024–2025 rally On the flip side, a shift in sentiment could expose gold to the following key supports: $3,244 – June 30 low $3,238 – Confluence of the 100-day SMA & 78.6% Fib retracement $3,120 – May 15 base level 🗓 Fundamental Drivers to Watch US PMI data (Thursday) – Surprise weakness could accelerate gold's breakout Durable goods orders (Friday) – A key test for USD strength Trade & Fed speculation – Any shift in Powell’s status or US–EU trade tensions could fuel volatility Conclusion: Gold remains technically and fundamentally supported, with clean upside potential if macro headwinds for the USD persist. As long as price holds above $3,244, the path of least resistance remains to the upside.200 pips done