Gold Technical Analysis XAUUSD: Gold continues to move in a weak upward trend during today’s trading, as the precious metal recorded its highest level so far at 2755.62 and its lowest level at 2734.77, and is currently trading at 2742.95.
Gold Technical Analysis XAUUSD: Technical Analysis
By analyzing the price action, it is clear that gold is trading below the moving averages, indicating a weak upward trend at the moment. The MACD indicator also shows positive signals, but these signals remain very weak, reflecting the weakness of the upward momentum and reducing the possibility of its strong continuation.
Trading Expectations:
In light of the weakness of the current upward trend, gold is expected to remain in a limited trading range during the coming hours. If the weakness in momentum continues, gold may witness a corrective movement or price fluctuation. With Trump’s speech expected today, we recommend closing positions before the speech.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2748.26 | 2733.54 |
| Target Point 1 (TP1) | First resistance: 2755.62 | First support: 2727.54 |
| Target Point 2 (TP2) | Second resistance: 2760.00 | Second support: 2720.00 |
| Stop Loss (SL) | 2733.54 | 2748.26 |
Based on the current technical analysis, the uptrend in gold appears weak with negative signals from the moving averages and MACD. It is advisable to be cautious in current trading and focus on closely monitoring the price action, as any changes in momentum may lead to unexpected moves.
