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Gold (XAUUSD) has always been a favored asset for traders, especially in volatile market conditions. With the current live price of 2905 USD, understanding the nuances of the gold market is crucial for making informed trading decisions. In this article, we will delve into comprehensive market analysis, including actionable intraday trading signals, using various technical indicators.
Current Market Overview
As of today, the gold market exhibits significant movement, influenced by global economic factors and upcoming USD news. Traders need to be aware of support and resistance levels, Fibonacci retracement, and other indicators to navigate this market effectively.
Technical Analysis
Support & Resistance Levels
Daily Support Levels: 2880, 2850, 2820
Daily Resistance Levels: 2920, 2950, 2980
Fibonacci Retracement Levels
Using the recent swing high and low, the key Fibonacci levels are:
23.6%: 2920
38.2%: 2900
61.8%: 2850
Exponential Moving Averages (EMA)
Daily EMA Levels:
50 EMA: 2895
100 EMA: 2870
200 EMA: 2845
400 EMA: 2810
4-Hour EMA Levels:
50 EMA: 2900
100 EMA: 2880
200 EMA: 2860
400 EMA: 2830
RSI Divergence
The Relative Strength Index (RSI) is currently at 65, indicating that gold is approaching overbought territory. Traders should be cautious of potential price corrections.
Order Blocks
Identifying order blocks can help traders understand where institutional buying/selling is taking place. Current order blocks are visible around 2900 USD and 2850 USD.
MACD Analysis
The MACD line is above the signal line, indicating bullish momentum. However, traders should watch for potential crossovers that may signal trend reversals.
Fundamental Analysis
Upcoming USD News
Traders should keep an eye on the upcoming Non-Farm Payroll (NFP) report and Federal Reserve meetings, as these events can significantly impact the gold market. Positive employment data may lead to a stronger USD, putting downward pressure on gold prices.
Summary
💡 Gold XAUUSD Daily Analysis Summary by Kohinoor Free VIP Signals – Contact Us
Key Levels:
Daily Support: 2880, 2850, 2820
Daily Resistance: 2920, 2950, 2980
4-Hour Support: 2890, 2860, 2840
4-Hour Resistance: 2910, 2930, 2950
Exponential Moving Averages (EMA)
Daily EMA Levels: 2895, 2870, 2845, 2810
4-Hour EMA Levels: 2900, 2880, 2860, 2830
Weekly Pivots:
Weekly Pivot Levels: 2900, 2925, 2950
Daily Pivots:
Daily Pivot Levels: 2890, 2905, 2920
Fibonacci Retracement Levels:
Key Levels: 2920, 2900, 2850
Disclaimer
Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.
FAQs
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Which brokers are trusted for Gold Forex Crypto trading? Based on client feedback, we recommend:
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What educational resources does Kohinoor provide? We offer Free Gold Forex Trading Ebooks and Free Kohinoor Free VIP Signals Education Articles & Blog.
What is the best time to trade Gold? The best time to trade Gold is during the overlap of the London and New York sessions.
How do I manage risk in Gold trading? Always use strict stop-loss orders and take partial profits.
What is the impact of USD strength on Gold prices? A stronger USD typically puts downward pressure on Gold prices.
How can I learn more about Forex trading? Check our Level 1 Forex Trading Educational Videos.
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