Gold Technical Analysis XAUUSD: Gold is trading in an upward trend during today’s session, as the buying momentum in the market is clearly evident. it recorded its highest price today at 2673 and the lowest price at 2648, and is currently trading at 2669, reflecting the continuation of the upward trend within a positive trading range.
Gold Technical Analysis XAUUSD: Price Analysis
The precious metal is currently trading above the moving averages, which reinforces the bullish expectations in the short term. This signal indicates that the buying momentum is still strong, with the possibility of continuing the upward movement as long as prices remain above these averages.
Technical Analysis Using Technical Indicators
- Moving Averages: Continuing trading above the moving averages is a strong signal to support the upward trend. These averages contribute to providing moving support levels that support the continuation of the positive momentum of gold.
- MACD Indicator: The MACD indicator shows a positive trend, reflecting strength in the upward momentum. This indicates that the uptrend is well supported by buying activity, and is expected to continue moving higher as long as the support from this indicator holds.
Today’s Trading Outlook
Gold is expected to continue its uptrend during the current session, with the possibility of testing the next resistance levels at 2673. If the buying pressure continues, we may see further rises towards higher levels.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2673 | 2653 |
| Target Point 1 (TP1) | First resistance: 2682 | First support: 2645 |
| Target Point 2 (TP2) | Second resistance: 2690 | Second support: 2640 |
| Stop Loss (SL) | 2653 | 2673 |
Gold is showing a strong uptrend according to technical analysis, with prices trading above moving averages and the MACD indicator reflecting strength in the positive direction. Gold is expected to continue its upward movements in the short term, with the possibility of testing higher resistance levels if the buying momentum in the market continues.
