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Current Market Price: $2591
📊 Intraday Trade Setups for Gold XAUUSD
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Trade Setup 1: Sell Signal
Trade Entry: $2597
Stop Loss: $2610
Take Profit 1: $2575
Take Profit 2: $2560
Reason: Gold faces strong resistance near $2600, coupled with bearish RSI divergence on the 4-hour timeframe.
Trade Setup 2: Buy Signal
Trade Entry: $2570
Stop Loss: $2555
Take Profit 1: $2588
Take Profit 2: $2597
Reason: Support zone at $2570 aligns with the 38.2% Fibonacci retracement level on the daily chart, showing potential for a bounce.
🔴 Risk Warning: Trading Forex and CFDs involves significant risk. Only trade with capital you can afford to lose. Always apply proper risk management.
🔍 Daily & 4-Hour Market Analysis
1. Fibonacci Retracement Levels
Swing High: $2620
Swing Low: $2560
Key Levels:
23.6%: $2590 (Resistance)
38.2%: $2580 (Support)
61.8%: $2570 (Critical Buy Zone)
2. Exponential Moving Averages (EMA)
Daily Timeframe:
50 EMA: $2588
100 EMA: $2602
200 EMA: $2615
400 EMA: $2640
4-Hour Timeframe:
50 EMA: $2582
100 EMA: $2594
200 EMA: $2607
400 EMA: $2633
3. Pivot Levels
Daily Pivots:
Pivot Point: $2586
Support 1: $2572
Resistance 1: $2599
Weekly Pivots:
Pivot Point: $2590
Support 1: $2570
Resistance 1: $2610
4. Indicators Overview
RSI Divergence: Bearish on the 4-hour chart near resistance ($2600).
Order Blocks: Buy orders accumulating near $2570.
MACD: Shows weakening bullish momentum on daily charts.
5. Fundamental Analysis
Gold’s price is influenced by the upcoming FOMC Minutes Release and US Retail Sales Data. Strong USD performance could pressure gold further, while dovish economic data may favor a bullish recovery.
💡Gold XAUUSD Daily Analysis Summary by Kohinoor Free VIP Signals
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Key Levels to Watch:
Daily Support: $2570, $2560
Daily Resistance: $2590, $2600
4-Hour EMA Levels: $2582, $2594, $2607
Fibonacci Zones: $2570 (61.8%), $2590 (23.6%)
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8. What’s the best timeframe for Gold trading?
Daily and 4-hour charts provide the clearest signals for XAUUSD trading.
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