Gold Technical Analysis XAUUSD: Gold continues to trade in an uptrend during today’s session, recording its highest price so far at 2650 and its lowest price at 2630, currently trading at 2647. Technical analysis shows that gold is trading above the main moving averages, which reinforces the upward trend and confirms the positive momentum that dominates the market.
Gold Technical Analysis XAUUSD: Technical Analysis
Prices are currently trading above the moving averages, indicating the strength of the uptrend. This movement confirms that there is ongoing buying pressure, and that positive momentum may continue to push prices towards higher levels in the short and medium term. It is important to follow the nearby resistance levels to determine the points where gold may face strong resistance.
MACD Indicator:
MACD Indicator shows a positive crossover above the zero level, reflecting strong upward momentum in the market. This signal supports bullish expectations and confirms the continuation of positive momentum, which enhances the chances of prices rising towards higher levels.
Future Outlook:
If gold continues to trade above the moving averages, it is likely to continue its rise towards the next resistance levels at 2670. In case of a downside correction, gold may find strong support near the 2630 level.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2654 | 2638 |
| Target Point 1 (TP1) | First resistance: 2662 | First support: 2632 |
| Target Point 2 (TP2) | Second resistance: 2667 | Second support: 2625 |
| Stop Loss (SL) | 2638 | 2654 |
Based on the current technical analysis, the bullish outlook for gold remains intact during today’s trading session. Trading above the moving averages indicates the continuation of the positive trend, while the MACD indicator reinforces the bullish momentum. Investors may prefer to take long positions in the ongoing uptrend, while carefully monitoring the resistance and support levels.
