Gold Technical Analysis XAUUSD: Gold is trading in an uptrend today, but with some signs of weakness in this trend. It recorded its highest price today at $2757 per ounce and the lowest price at $2741, and is currently at $2743.
Gold Technical Analysis XAUUSD Trend Analysis:
Prices are trading above the moving averages, indicating that the uptrend is still prevailing, despite the slight decline in prices.
Technical Analysis:
- Moving averages: confirm the strength of the uptrend, as prices are still trading above these levels.
- MACD: shows a positive trend, but with some weakness in the uptrend, indicating the need to monitor market developments.
Trading Expectations:
If the pressure on prices continues, we may see a potential decline towards key support levels at $2735. However, the uptrend remains prevailing as long as prices remain above the moving averages.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2749 | 2734 |
| Target Point 1 (TP1) | First resistance: 2757 | First support: 2727 |
| Target Point 2 (TP2) | Second resistance: 2765 | Second support: 2722 |
| Stop Loss (SL) | 2734 | 2749 |
Gold is showing an upward trend, but beware of signs of weakness. It is advisable to monitor any economic events or news that may affect the movement of the precious metal in the coming sessions.
