European session, date: 07/18/2024
Introduction and overview
Gold continues to attract investor interest thanks to its volatile price movements. In this technical analysis, we will take a look at the price movement of gold currently trading at 2472, highlighting the main technical indicators and support and resistance levels that may influence market trends. Today, gold is trading in a narrow price range ranging from… Analysis of technical indicators shows that the price of gold is trading above most moving averages, and the MACD indicator indicates the strength of the upward trend. Gold is trading above its short- and long-term moving averages, indicating a continuation of the uptrend. On the other hand, the MACD is showing some signs of bullish momentum.

Trading strategies based on Buy/Sell levels
XAUUSD | In case of buying | in case of selling |
Entry point | 2476 | 2468 |
Target Point 1 (TP1) | First resistance: 2481 | First support: 2463 |
Target Point 2 (TP2) | Second resistance: 2486 | Second support: 2458 |
Stop Loss (SL) | 2468 | 2476 |
Conclusion
Based on technical analysis, gold appears to be continuing its upward trajectory with the price trading above the moving averages and positive momentum signals from the MACD. Investors should closely monitor support and resistance levels to make informed decisions. The outlook remains positive for gold in the coming period, making it a safe haven for investors in light of the current market conditions.