Gold Technical Analysis XAUUSD :is trading today in a downward trend, recording a high of 2575 and a low of 2554. Currently, gold is trading at 2569. The market is currently showing fluctuations in movement with a weakness in the general trend, reflecting a state of uncertainty in the markets.
Gold Technical Analysis XAUUSD Technical Analysis:
- Moving Averages: Trading gold below the main moving averages indicates that the general trend is still downward. Trading prices below these averages enhances the continuation of negative pressure on gold and confirms the strength of the downward trend in the near term. However, it is noted that prices are fluctuating near these averages, indicating a weakness in negative momentum and fluctuation in directional strength.
- MACD Indicator: The MACD indicator shows a weak downward trend, as the indicator lines are approaching each other in the downward zone. Although the negative trend is still in place, the weakness of the momentum reflects the possibility of a correction or temporary pause in the decline. This indicates that the downward trend may be in a phase of weakness or temporary decline at the present time.
Future Outlook:
Gold’s continued trading below the moving averages reinforces the short-term bearish trend. If gold fails to break above 2575, the downward pressure may continue towards lower support levels.
such as 2550 or even 2525. However, it remains important to monitor the MACD indicator.
as any improvement in momentum or an upward breakout could change the market outlook.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2579 | 2558 |
| Target Point 1 (TP1) | First resistance: 2588 | First support: 2544 |
| Target Point 2 (TP2) | Second resistance: 2594 | Second support: 2534 |
| Stop Loss (SL) | 2558 | 2579 |
Based on the current technical analysis, the bearish trend remains dominant in gold trading, with weak and fluctuating directional strength, suggesting that the negative momentum may be in a downward phase. While gold remains below the moving averages.
the downtrend is expected to continue in the near term, with any potential corrective signals to be monitored in case of an improvement in the negative momentum.
