GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Pivot Level Crucial: $2,679.33 holds as a key support, maintaining short-term bullish bias.

- Resistance in Focus: Key targets at $2,701.96 and $2,719.88 could signal breakout momentum.

- Cautious Optimism: RSI at 45 and 50 EMA at $2,686.62 indicate mixed market sentiment.

Gold (XAU/USD) trades at $2,682.67, edging up 0.07% on the 4-hour chart. Prices remain supported by the pivot point at $2,679.33, with immediate resistance at $2,701.96. Further upside could target $2,719.88 and $2,732.71 if bullish momentum strengthens.

On the downside, immediate support is at $2,661.04, followed by $2,647.09 and $2,627.43, levels traders should monitor closely for potential breakdowns.

The 50 EMA at $2,686.62 indicates a neutral-to-bearish short-term trend, with gold trading slightly below this key average. Meanwhile, the Relative Strength Index (RSI) at 45 reflects balanced momentum but leans toward bearish sentiment, suggesting limited upside unless buyers regain control.

Gold’s current setup suggests cautious optimism, with a Buy Limit entry near $2,682 targeting $2,700, while a Stop Loss at $2,672 safeguards against downside risks.

A sustained move above $2,701.96 could confirm a broader bullish breakout, while failure to hold the pivot at $2,679.33 may lead to retests of lower support levels.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Limit 2682

Take Profit – 2700

Stop Loss – 2672

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1800/ -$1000

Profit & Loss Per Mini Lot = +$180/ -$100