Gold Technical Analysis XAUUSD: bullish trend

American session, date: 7/1/2024

Introduction and overview

In this technical analysis, we will examine gold’s performance by reviewing key price trends, important technical levels, and current trading patterns. We will use a set of technical tools and indicators to provide a comprehensive and in-depth view of gold’s movement in the market. Gold is currently trading at $2,333 per ounce. Prices are trading above most of the moving average crossings, indicating strength in the uptrend. The MACD indicator shows a positive trend with anticipation of the release of US economic data, including the ISM Manufacturing Purchasing Managers’ Index, which has an impact on gold’s trading against the dollar.

Gold Technical Analysis

Trading strategies based on Buy/Sell levels

XAUUSD In case of buying           in case of selling
Entry point 2341 2323
Target Point 1 (TP1) First resistance: 2351 First support: 2318
Target Point 2 (TP2) Second resistance: 2361 Second support: 2313
Stop Loss (SL) 2323 2341



These strategies are based on determining the price’s location relative to support and resistance levels, and suggest the best ways to profit from price movements based on these indicators. Traders should carefully monitor these levels to identify optimal opportunities to enter and exit the market, while adhering to appropriate risk management strategies to protect their investments.

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