XAUUSD Forecast What is Gold’s Next Move?
XAUUSD Forecast What is Gold’s Next Move?
XAUUSD Forecast What is Gold’s Next Move?
XAU/USD Forecast: What is Gold’s Next Move ?
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Trend Analysis
- Overall Trend: Uptrend (Price trading above key moving averages).
- Short-Term: Sideways consolidation after an uptrend.
- Medium-Term: Higher highs and higher lows.
- Long-Term: Strong uptrend with a bullish bias.
Volume Analysis
- Volume spikes during price surges, confirming institutional interest.
- Declining volume in recent sideways movement suggests a potential breakout soon.
- Buyers are defending support levels, preventing a breakdown.
Upcoming Events to Watch
- US Economic Data (CPI, NFP, Fed Rate Decisions) can impact gold prices.
- Geopolitical tensions and inflation concerns may support gold demand.
- Dollar Index (DXY) movement plays a key role in gold price direction.
Observations
- Price holding above 50, 100, and 200 moving averages indicates a bullish bias.
- RSI near 51 is in the neutral zone, showing slightly bullish momentum but not overbought.
- Momentum indicator is stabilizing, with no major bearish signals yet.
- Volume is increasing on upward moves, indicating bullish accumulation.
- Resistance is around 2930-2950, requiring a breakout for further upside.
- Support at 2880-2860 is critical for bullish continuation.
Final Takeaway
- Bias: Bullish but needs a breakout.
- Trade Setup: Wait for confirmation above resistance or breakdown below support.
Breakout Strategy (Bullish Scenario)
- Entry Above: 2930 | Stoploss: 2890 (-1.36%)
- Target 1: 2960 (+1.02%) | Target 2: 2990 (+2.32%) | Target 3: 3050 (+4.94%)
- Trailing Stop: Move stop loss to breakeven after 2960.
Breakdown Strategy (Bearish Scenario)
- Entry Below: 2860 | Stoploss: 2900 (+1.40%)
- Target 1: 2830 (-1.05%) | Target 2: 2800 (-2.09%) | Target 3: 2750 (-4.00%)
- Trailing Stop: Adjust stop loss after 2830.
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
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