Technical Report for XAU/USD: Gold vs. the US Dollar (XAU/USD) on the H1 (one-hour) timeframe is trading after a strong upward wave followed by a significant downward correction. The chart shows that the price is currently trading in a narrow range, after testing key resistance levels, with downside pressure continuing as a result of the market’s impact on economic news and the strength of the dollar.
Technical Report for XAU/USD: Market Overview
General Trend: Corrective decline after a strong upward wave.
Influencing Factors:
- Continued strength of the US dollar due to the Federal Reserve’s monetary policies.
- Fluctuating demand for gold as a safe haven amid geopolitical tensions.
- Investors are awaiting US inflation data, which may determine the Fed’s interest rate direction.
Technical Report for XAU/USD: Technical Indicator Analysis
- Moving Averages
The short-term moving averages (20-50) indicate dynamic resistance around 3025–3030.
The 200-period moving average (dashed red) continues to reflect the medium-term upward trend, but the price is moving below it, indicating a potential downward trend.
- MACD Indicator
The fast line remains below the slow line, indicating weak upward momentum.
The negative bars in the area below the zero line confirm ongoing selling pressure.
- Stochastic Indicator
The indicator is moving at 58.84, indicating no clear signs of overbought or oversold conditions, but it remains close to the neutral zone.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 3026 | 3017 |
| Target Point 1 (TP1) | First resistance: 3032 | First support: 3011 |
| Target Point 2 (TP2) | Second resistance: 3037 | Second support: 3006 |
| Stop Loss (SL) | 3017 | 3026 |
The current trend is bearish as long as the price remains below 3025.
Best Trading Strategy:
- Sell if a breakout of 3025 fails, targeting 3011 and then 3005.
- Buy only if a breakout of 3032 occurs, targeting 3045–3050.
Monitoring US economic news, especially inflation data, which may directly impact gold’s direction.
