Gold XAU/ USD Technical Analysis and Price forecast.


Gold make a pullback from the 200EMA support price level of $4376 after the US and Iran announced ceasefire. At the time of writing this Gold is trading near $4520.
If Gold will make a day close above $4508 then it could extend the pump towards $4580.
The Relative Strength Index RSI is at 43 aiming upward indicating that the bearish momentum is getting weaker. While Moving Average Convergence Divergence MACD blue is near to strike with orange line a flip above orange line will indicating that the momentum has been shift from bearish to bullish.
However a day close below $4500 can result in the fall of price towards $4275.
Day Trade entry and Profit Targets.
Entry: $4505-$4510
Target: $4529
Stoploss: $4490
Disclaimer: This is not a financial advice, its just my personal point of view of the market. Do your own research before investing.
XAU0.87%
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