$GOLD CRASHES TO 34-WEEK LOW – YEN COLLAPSE ADDING FUEL 🔥
Gold is down 2% in the last two hours, breaking below $3,950 and hitting its weakest level since October. The metal is now 30% off its peak, and the Japanese yen just collapsed to a 40-year low against the dollar. That dollar strength is crushing gold.
Technicals are screaming bearish: RSI at 38.9, price below both the 50 and 200 SMAs, and MACD accelerating lower. The $4,000 level broke like butter. Next support sits at $3,900, and if that goes, $3,800 is on the table.
Hawkish Fed expectations and a strong dollar are the drivers. The safe-haven bid has completely evaporated. Are you shorting this breakdown or waiting for a clean bounce?
Not financial advice. Always manage your risk.
#GOLD #GoldCrash #BearishSetup #TechnicalAnalysis #Macro
🔥
Gold is down 2% in the last two hours, breaking below $3,950 and hitting its weakest level since October. The metal is now 30% off its peak, and the Japanese yen just collapsed to a 40-year low against the dollar. That dollar strength is crushing gold.
Technicals are screaming bearish: RSI at 38.9, price below both the 50 and 200 SMAs, and MACD accelerating lower. The $4,000 level broke like butter. Next support sits at $3,900, and if that goes, $3,800 is on the table.
Hawkish Fed expectations and a strong dollar are the drivers. The safe-haven bid has completely evaporated. Are you shorting this breakdown or waiting for a clean bounce?
Not financial advice. Always manage your risk.
#GOLD #GoldCrash #BearishSetup #TechnicalAnalysis #Macro
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