Gold Technical Analysis XAUUSD: Uptrend

Gold Technical Analysis XAUUSD: Today, gold price is trading in an uptrend, recording a high of $2,789 per ounce and a low of $2,773, and is currently trading at $2,786 per ounce.

Gold Technical Analysis XAUUSD Technical Analysis:

Prices are trading above the moving averages, which supports the uptrend. However, the MACD indicator is showing an uptrend, but it reflects some weakness in the strength of this trend, indicating the need to be cautious in light of the possibility of a pullback or corrective movement.

Forecast:

With the current uptrend, prices could continue to rise, especially if they manage to surpass the $2,789 level. However, support levels, such as $2,773, should be monitored, as any movement below this level could lead to a potential pullback.

Gold Technical Analysis XAUUSD

Trading strategies based on Buy/Sell levels

XAUUSD In case of buying           in case of selling
Entry point 2791 2769
Target Point 1 (TP1) First resistance: 2800 First support: 2762
Target Point 2 (TP2) Second resistance: 2885 Second support: 2757
Stop Loss (SL) 2769 2791

 

Gold appears to be in an uptrend supported by positive technical indicators, but the weakening momentum requires close monitoring. Traders should pay attention to economic developments and global news that may affect the price of gold in the coming period.

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