Gold Technical Analysis XAUUSD: Gold is trading in an uptrend during today’s session, recording its highest trading price so far at 2939.46 and its lowest at 2922.54. It is currently trading at 2936.31, indicating the continuation of the bullish momentum in the market.
Gold Technical Analysis XAUUSD: Technical Analysis
- Moving Averages:
Gold is trading above the moving average indicators, indicating that the general trend is still bullish. This signal supports the continuation of the rise and confirms the driving force of the current trend.
- MACD Indicator:
The MACD indicator is indicating a positive trend, as the main line of the indicator is trading above the signal line, reinforcing the idea of the continuation of the bullish momentum in the market. This adds another confirmation to the bullish trend.
Future Outlook:
As gold continues to trade above the moving averages, gold is expected to continue its rise and test the upcoming resistance levels. If it manages to break the 2944.62 level, we may witness an extension of the uptrend towards higher levels.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2944.62 | 2921.07 |
| Target Point 1 (TP1) | First resistance: 2954.92 | First support: 2912.24 |
| Target Point 2 (TP2) | Second resistance: 2959.12 | Second support: 2906.55 |
| Stop Loss (SL) | 2921.07 | 2944.62 |
The overall trend for gold remains bullish in the short term, supported by prices trading above the moving averages and a positive signal from the MACD indicator. The bullish momentum is expected to continue as long as trading remains above these important technical levels, while monitoring any changes in economic factors that may affect this trend.
