GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

Gold prices made an effort to surpass the $1913.15 mark, yet concluded last Friday's session above this threshold. This sustains our optimistic forecast, bolstered by the positive trajectory indicated by the stochastic, as well as the upward pressure provided by the EMA50. Our projected price milestones commence at $1929.00, extending up to $1945.20.

Conversely, it's pivotal to highlight that a dip below the $1913.15 mark could disrupt this bullish outlook, steering the price towards a renewed downtrend.

For today, the anticipated price fluctuation is predicted to oscillate between a support of $1900.00 and a resistance of $1935.00.

GOLD (XAU/USD) - Trade Idea

Entry Price – Buy Above 1914

Take Profit – 1930

Stop Loss – 1905

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$1600/ -$900

Profit & Loss Per Micro Lot = +$160/ -$90