Gold Technical Analysis XAUUSD: Gold is trading in a weak downtrend today, recording a high of $2,762 per ounce and a low of $2,744, with current trading at $2,753 per ounce. This movement reflects a state of volatility in the market, with signs indicating a weakness in the downtrend.
Gold Technical Analysis XAUUSD: Price Analysis
Despite the downtrend, gold is trading above the moving averages, indicating strong support that may enhance the chances of an uptrend. This situation reflects that the market still has the ability to react positively.
Technical Analysis
The MACD indicator shows a decline in the negative trend, which means there is a chance for the trend to turn positive. This may indicate the possibility of gold regaining some positive momentum, which enhances hopes for a price increase.
Trading Expectations
Based on technical and fundamental analysis, gold is expected to continue moving within a narrow trading range, with the possibility of regaining the uptrend if the supporting factors persist. If the market sees any positive changes in economic conditions, we may see further price increases.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2759 | 2747 |
| Target Point 1 (TP1) | First resistance: 2766 | First support: 2742 |
| Target Point 2 (TP2) | Second resistance: 2771 | Second support: 2737 |
| Stop Loss (SL) | 2747 | 2759 |
Gold is showing signs of a weakening downtrend, with trading above the moving averages and the MACD falling into a negative trend. Investors are advised to keep a close eye on economic developments, as they can significantly impact market movement and price levels.
