Gold Technical AnalysisXAUUSD: weak upward trend

American session, date: 7/8/2024

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 $2374 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

Trading strategies based on Buy/Sell levels

XAUUSD In case of buying           in case of selling
Entry point 2379 2363
Target Point 1 (TP1) First resistance: 2387 First support: 2355
Target Point 2 (TP2) Second resistance: 2397 Second support: 2350
Stop Loss (SL) 2363 2379



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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