Gold Tariffs Push Gold Lower. Watching for 3330$ Support Now. July 24, 2025

[Sive Morten]

Good morning,

D. Trump announced a lot of tariffs agreements yesterday (Japan, Indonesia etc.) and this supports USD and US bond market. So, short-term upside tendency was broken. Now we keep an eye on ~3330$ support area where we could get another chance for long entry:

 

[shahsavari]

Dear Sive,
Thsnks.
Is the XY showing a Double REPO Buy pattern in the weekly chart?
Best Regards,
Ali

 

[Sive Morten]

Is the XY showing a Double REPO Buy pattern in the weekly chart?

Hi, "XY" what this ticket stands for? (or just put the chart here and we take a look together).

 

[shahsavari]

Hi
I mean USD.

 

[Sive Morten]

Hi
I mean USD.

Oh, I see. D-XY, right. .

Personally I wouldn't treat it as DRPO. Because if you suggest the 1st 3x3 penetration from the green line on your chart - then DRPO lows have too big difference. If you suggest that currently is the 1st penetration - then, market already had one higher, so, the thrust was broken. Why it is bad? Because DXY is faded momentum on a way down but strong retracement already, so some steam is out of the pot already.

But it doesn't mean that Dollar can't show there upside bounce. It could happen, but if it will - it just means that not a DRPO will be a trigger.

 

[shahsavari]

Oh, I see. D-XY, right. .

Personally I wouldn't treat it as DRPO. Because if you suggest the 1st 3x3 penetration from the green line on your chart - then DRPO lows have too big difference. If you suggest that currently is the 1st penetration - then, market already had one higher, so, the thrust was broken. Why it is bad? Because DXY is faded momentum on a way down but strong retracement already, so some steam is out of the pot already.

But it doesn't mean that Dollar can't show there upside bounce. It could happen, but if it will - it just means that not a DRPO will be a trigger.

Thank you very much.