Technical analysis of XAUUSD today. Gold is experiencing a positive rebound, supported by a declining US dollar amid expectations of continued easing from the Federal Reserve. With markets approaching the release of important economic data this week, traders are returning to gold as a safe haven, especially amid geopolitical tensions and fluctuating stock indexes. Gold is one of the most attractive financial instruments for traders in global markets, especially in light of political and economic volatility. As the market enters critical stages this year, traders are searching for a precise answer to the question: What is the technical trend for gold today?
Technical analysis of XAUUSD today: General Trend for Gold
Gold is currently trading near $3390 per ounce after rebounding from a strong support area around $3371. On the H1 chart, we see a failed breakout attempt at $3412, followed by a slight downward correction. However, the price remains above the moving averages, reflecting a bullish bias in the near term, with attempts to break through important resistance levels. Price behavior during recent sessions reflects a state of anticipation, especially with the upcoming release of influential economic data.
Technical Indicators – Buy and Sell Signals Today
Moving Averages: The price is moving above the 50 and 100 SMAs, supporting the continuation of the upward momentum.
MACD: Shows a weak bearish crossover, but without confirmation of a real reversal.
Stochastic: Trending upward from the oversold zone, indicating a potential upside in the coming sessions.
Technical analysis of XAUUSD : Expected Scenarios
Bullish Scenario:
If gold manages to hold above 3395, we may witness a target of 3406 and then 3412 in the coming hours. A break of 3412 with a clear close could open the way to 3435.
The 3395 area is currently key to the uptrend, representing intermediate resistance and a previous sub-top.
Bearish Scenario:
If gold fails to surpass 3395 and falls below 3383, it may retest the strong support area at 3371, which is considered a pivotal retracement level. A break of 3371 could push the price towards 3350.
The 3371 area represents key support that has been tested several times and indicates buyer interest at this level.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | XAU/USD |
| 3395.70 | 3383.38 | Entry point |
| First resistance: 3412.75 | First support: 3371.07 | Target Point 1 (TP1) |
| Second resistance: 3422.00 | Second support 3444.00 | Target Point 2 (TP2) |
| 3383.38 | 3395.70 | Stop Loss (SL) |
Gold is moving in an upward range supported by prices remaining above the moving averages and key support at 3371. However, holding below 3395 could temporarily weaken momentum. The general trend is positive as long as 3370 is not broken.
The focus is currently on 3395 as important technical resistance, and stability above it opens the way for continued upward movement. A break of 3371 will change the short-term outlook to neutral or negative.
Impactful Economic Data This Week:
Friday: US Nonfarm Payrolls (NFP) report – data that will strongly influence the dollar’s movement and, consequently, gold.
Federal Reserve members’ statements this week may strengthen or weaken interest rate cut expectations, which will have a direct impact on gold.
