Gold Technical Analysis XAUUSD: Gold (XAU/USD) is trading in a clear upward trend today, recording a high of 3085.77, a low of 3065.97, and currently closing at 3075.63, reflecting the dominance of buyers as positive momentum continues.
Gold Technical Analysis XAUUSD: Technical Analysis
Using Moving Averages
- Prices are trading above the moving averages, confirming the strength of the medium-term uptrend.
MACD Analysis
- The MACD indicator is showing a strong positive signal, trading above the zero line with the indicator line diverging from the signal line, reflecting continued upward momentum.
- Any convergence between the two MACD lines may indicate a prelude to a temporary correction, but it needs to be confirmed as momentum changes.
Gold Technical Analysis: Trading Forecast
- Prevailing Bullish Scenario:
Entry on a rebound from 3079.52 towards 3085.02
Target: 3092.14
Stop-loss: 3067.37
- Corrective Scenario (in case of a price decline):
Monitor the 3067.37 area as key support, and buy from it on the rebound.
Stop-loss: 3067.37
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 3079.52 | 3067.37 |
| Target Point 1 (TP1) | First resistance: 3085.02 | First support: 3062.54 |
| Target Point 2 (TP2) | Second resistance: 3092.14 | Second support: 3056.58 |
| Stop Loss (SL) | 3067.37 | 3079.52 |
Gold (XAU/USD) continues its strong uptrend, supported by prices trading above their moving averages and positive MACD signals. Trading gold is preferable from the long side, with a focus on the 3062.54 levels as key support areas.
