GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold remains bearish below $2922.88, with $2898.08 as key support and $2943.27 as the next major resistance.

- 50-day EMA at $2900.68 acts as a crucial pivot for near-term price action.

- Break below $2898.08 could accelerate selling toward $2879.70, while a breakout above $2943.27 may trigger bullish momentum.

Gold (XAU/USD) is trading at $2917.37, showing slight downside pressure as it hovers just below its pivot point of $2922.88. The 50-day EMA at $2900.68 provides a crucial support level, reinforcing near-term stability. However, the bearish sentiment remains intact as long as gold stays below the pivot.

On the upside, immediate resistance stands at $2943.27, with a breakout potentially pushing gold towards $2959.89 and ultimately $2975.96. However, recent price action suggests that buyers are struggling to gain control, making a sustained move above these levels uncertain.

On the downside, immediate support is set at $2898.08, followed by $2879.70 and $2864.94. A break below these levels could accelerate selling momentum, with traders eyeing the next key levels for potential entry points.

The entry strategy favors selling below $2922, targeting $2900 as a take-profit level, while stop-loss is set at $2935 to manage risk. The overall trend suggests cautious bearish sentiment, with gold needing a decisive breakout above resistance levels to shift momentum back in favor of buyers.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2922

Take Profit – 2900

Stop Loss – 2935

Risk to Reward – 1:1.6

Profit & Loss Per Standard Lot = +$2200/ -$1300

Profit & Loss Per Mini Lot = +$220/ -$130