Gold Technical Analysis XAUUSD: weak upward trend

American session, date: 7/4/2024

Introduction and overview

In this technical analysis, we will examine gold’s performance by reviewing key price trends, important technical levels, and current trading patterns. We will use a set of technical tools and indicators to provide a comprehensive and in-depth view of gold’s movement in the market. Gold is currently trading at $2357 per ounce. Prices are trading below most of the moving average crossings, indicating a pullback in the uptrend. The MACD indicator shows a weak positive trend.

Gold Technical Analysis XAUUSD

Trading strategies based on Buy/Sell levels

XAUUSD In case of buying           in case of selling
Entry point 2363 2344
Target Point 1 (TP1) First resistance: 2372 First support: 2339
Target Point 2 (TP2) Second resistance: 2381 Second support: 2334
Stop Loss (SL) 2344 2363



These strategies are based on determining the price’s location relative to support and resistance levels, and suggest the best ways to profit from price movements based on these indicators. Traders should carefully monitor these levels to identify optimal opportunities to enter and exit the market, while adhering to appropriate risk management strategies to protect their investments.

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