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WhatsApp Kohinoor Free VIP Gold Forex Crypto Trading Market Analysts and get Free Gold Forex live trade setups and analysis.
Current Gold Price (XAUUSD): $2628
Intraday Trading Signals:
Buy Signal: Enter long at $2615, target $2640, stop loss at $2600.
Sell Signal: Enter short at $2640, target $2610, stop loss at $2655.
Gold Market Analysis Using Indicators - Fibonacci, EMA, RSI, Pivots, and SMC Concepts
Gold (XAUUSD) is currently trading at $2628, reflecting strong bullish momentum, but key technical indicators suggest a potential for both retracement and further upside. Using a combination of indicators such as Fibonacci retracements, Exponential Moving Averages (EMA), Relative Strength Index (RSI) divergence, and Support and Resistance levels, we can identify key zones for potential trading opportunities.
Fibonacci Retracement Analysis:
Applying Fibonacci retracement from the recent swing low of $2550 to the recent high of $2635, we can identify the 38.2% retracement level around $2605 and the 61.8% level at $2580. These levels offer significant buying opportunities in case of a retracement in the coming sessions. A break below the 50% retracement level ($2590) may signal further downside.
EMA (Exponential Moving Averages): The 100 EMA is currently providing dynamic support at $2598, while the 200 EMA rests around $2585, acting as critical support. The 400 EMA at $2555 remains a key longer-term support zone. If the price holds above the 100 EMA, we can expect bulls to continue dominating. A close below the 200 EMA may trigger further selling pressure.
RSI Divergence: The RSI on the 4-hour time frame shows a potential bearish divergence, indicating weakening momentum as price approaches $2640. Traders should be cautious as a correction may follow before the next bullish push.
Weekly Pivots and Support/Resistance Levels: This week’s pivot level is around $2615, which aligns with the current market price, making it a critical level to watch for both bulls and bears. Resistance levels can be observed at $2640 and $2670, while support remains strong at $2600 and $2580.
SMC (Smart Money Concepts): Analyzing the current market using SMC, we see that institutional players have left untested demand zones between $2585 and $2600. Should Gold dip into these zones, we can expect buyers to step in aggressively, pushing prices higher.
Daily and 4-Hour Time Frame Key Levels:
Support Levels: Daily: $2600, $25804-Hour: $2590, $2565
Resistance Levels: Daily: $2640, $26704-Hour: $2628, $2645
Fibonacci Levels:38.2%: $260550%: $259061.8%: $2580
EMA Levels:100 EMA: $2598200 EMA: $2585400 EMA: $2555
Pivot Points: Weekly Pivot: $2615Daily Pivot: $2620
These levels provide key reference points for intraday traders. The price action around these zones will dictate the market’s next significant move.
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