Gold Technical analysis XAUUSD: A sideways trend that tends to fall


European session, date: 06/27/2024

Introduction and overview

The gold market is considered one of the most attractive markets for investors and technical analysts alike, due to its unique nature and profound economic effects. Technical analysis of gold is characterized by a focus on studying price patterns and its movement over time, making use of tools such as moving averages, relative strength indicators, and candlestick patterns, to understand future trends and anticipate potential price movements. Gold is currently trading at $2,300. Prices are trading below most of the moving average crossings, with a sideways trend emerging. The MACD indicator shows the end of the negative trend.

Trading strategies based on Buy/Sell levels

XAUUSD In case of buying           in case of selling
Entry point 2307                   2290
Target Point 1 (TP1) First resistance: 2311 First support: 2285
Target Point 2 (TP2) Second resistance: 2316 Second support: 2280
Stop Loss (SL) 2290 2307



Technical analysis of the gold market is essential for investors seeking to understand the market and make informed investment decisions. This technical approach provides an accurate framework for analyzing historical data and predicting future trends, which helps achieve positive financial results and effectively achieve investment goals.

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