Gold Technical Analysis XAUUSD: Gold price is trading in a weak downtrend today. and has risen from its lowest price at $2,716 per ounce to its highest price so far at $2,731, and is currently trading at $2,730.
Gold Technical Analysis XAUUSD Trading Price Analysis:
On the chart, prices are trading above the moving averages, indicating a weak downtrend and indicating support for the uptrend. This signal indicates that there is a desire to buy gold at current levels.
Technical Indicators Analysis:
- MACD Indicator: The indicator shows a weak negative trend, indicating continued selling pressure, but the strength of the trend is not noticeable, which opens the door to a possible recovery.
Expected Trading During the Day:
Gold is expected to continue its movements within a narrow range with the possibility of volatility. If the buying pressure continues, we may witness a breakout of the current resistance levels, which may reinforce the uptrend.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2737 | 2720 |
| Target Point 1 (TP1) | First resistance: 2746 | First support: 2713 |
| Target Point 2 (TP2) | Second resistance: 2754 | Second support: 2706 |
| Stop Loss (SL) | 2720 | 2737 |
Gold price shows weakness in the downtrend supported by the current technical analysis, with a possibility of correction or rise. It is necessary to monitor the technical levels and future trends to identify suitable trading opportunities.
