XAUUSD is reaching the possible long-term top • Edge of trading a place for traders

Gold prices have been volatile. On April 25, 2025, XAU/USD fell sharply from an early high of $3,370 to $3,316 during the Asian session, driven by a risk-on market mood due to improving U.S.-China trade sentiment and strong U.S. economic data, like a 9.2% surge in March durable goods orders. This bolstered the U.S. dollar, pressuring gold prices. Earlier in the week, gold hit a record high above $3,500 on April 21, fueled by safe-haven demand amid concerns over U.S. Federal Reserve independence and trade tensions, but it later retreated as Trump softened his stance on Fed Chair Jerome Powell and China tariffs.

XAUUSD has recently been rejected from 3500 and is reversing lower. This level is 138.2% Fibonacci extension and a possible third long-term wave top, and also the Andrews Pitchfork channel resistance. This could be a pullback into a fourth long-term upside wave before an extension higher in the fifth wave. Learn to Trade CFDs profitably.

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The XAUUSD weekly chart below reveals a broadening wedge and a rejection from its upside resistance. From here, I am looking at a possible swing lower to 2800, which is the strong upside resistance of a broadening wedge. Only a break above 3500 will invalidate the downside reversal and a pullback in the fourth long-term Elliott Wave.

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How can we trade this?

It is a fact that a strong upside resistance for Q2 2025 is 3500, and if we get a confirmation of a reversal lower and a sustained extension below 3300, we could see a deeper pullback into 2800. You can try with a short-trade entry with an SL above 3400. You can buy put options as well. For inquiries about account management or copy trading, please write to [email protected] or contact me on WhatsApp or Live chat.

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How can we trade this?

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