Gold at a Turning Point: Will PCE Data Trigger the Next Breakout

🟡 XAUUSD PLAN UPDATE – MMFlow Trading
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Fundamental Context
Later today, traders are watching the US PCE Price Index – the Fed’s preferred inflation gauge.
Forecast: unchanged from the previous reading, which means no major inflation pressure.
If the data comes in slightly stronger for the USD, gold could face short-term downside pressure before bouncing.

Pre-news behaviour often includes liquidity grabs around key levels before the real move begins.

📊 Technical Outlook (M15)
Gold is trading inside a descending channel with several important zones:
Resistance / Supply:
3414.3 → short-term cap.
3424 – 3425 → strong supply zone.

Support / Demand:
3394.4 → interim support.
3384.3 → key demand zone.
3375.6 → structural support, trend pivot.
3363.0 → last line of defence if breakdown occurs.

🎯 Trading Scenarios (Pre & Post PCE)
1️⃣ Bullish Bias (primary scenario)

Holding above 3384 – 3375 suggests a rebound.
Break of 3414 opens the door to 3424 – 3425.
A clean break above 3425 could extend the bullish leg towards 3435+.

2️⃣ Bearish Scenario (if USD strengthens)
Failure at 3414 – 3420 may trigger a pullback towards 3384 – 3375.
A decisive break below 3375 risks further downside into 3363.

📍 Trade Plan (Guidance Only)

Buy zone: 3384 – 3375 (with confirmation signals).
Sell zone: 3414 – 3425 (short-term trades only, especially pre-news).
Stops: 5–7$ beyond key levels.
Targets: 10–20$ depending on risk appetite.

✅ Conclusion

Ahead of PCE: expect gold to accumulate within the channel, hunting liquidity.

After PCE: if data is slightly USD-positive, gold may dip into 3384 – 3375 before resuming its broader bullish path.

The overall bias remains bullish while above 3375 – 3363.