Gold Technical Analysis XAUUSD: It is currently trading in a bearish trend, having fallen from $2658 per ounce to today’s low of $2640. The current price is $2649, indicating continued selling pressure in the market.
Gold Technical Analysis XAUUSD: Technical Analysis
Moving Average Indicators
The data indicates that gold is trading below the moving average indicators, which reinforces the strength of the downtrend. This situation reflects increasing selling pressure, and indicates that a return to the uptrend may face difficulties.
MACD Indicator
Looking at the MACD indicator, we can notice the beginning of a negative trend, which adds confirmation of the continuation of the downward pressure. These signals may significantly affect the trading path in the coming period.
Gold Outlook for Today
Gold is expected to continue to fluctuate during today’s trading session. If the price manages to break the support level at $2640, we may see further declines towards $2630. On the other hand, a move towards the upside may require surpassing the resistance level at $2,660.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2655 | 2644 |
| Target Point 1 (TP1) | First resistance: 2659 | First support: 2639 |
| Target Point 2 (TP2) | Second resistance: 2664 | Second support: 2630 |
| Stop Loss (SL) | 2644 | 2655 |
Gold remains under selling pressure, with signs of a continued downtrend. It is important to monitor support and resistance levels to determine optimal entry and exit points in the market.
