GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bearish Momentum: Gold remains bearish below the 50 EMA at $2,913.75 and the Pivot Point at $2,868.01.

- Support Levels: Key supports at $2,848.61, $2,831.24, and $2,815.11.

- Resistance Levels: Immediate resistance at $2,889.16, followed by $2,906.26 and $2,930.44.

Gold (XAU/USD) is trading at $2,864.54, showing a slight uptick of 0.04% but remains under pressure as it hovers below the Pivot Point at $2,868.01. The metal faces significant resistance at $2,889.16, followed by stronger barriers at $2,906.26 and $2,930.44.

These resistance levels align with the 50-day Exponential Moving Average (EMA) at $2,913.75, reinforcing a bearish bias unless gold breaks above this level.

On the downside, immediate support is seen at $2,848.61, with deeper cushions at $2,831.24 and $2,815.11. A break below $2,848.61 could accelerate the bearish trend, pushing prices toward the lower support zones.

Conversely, a sustained move above $2,868.01 could challenge the $2,889.16 resistance level, potentially shifting momentum toward the bulls.

The technical setup indicates a bearish bias as long as gold remains below the 50 EMA and the Pivot Point. The daily chart shows a descending trendline, further confirming selling pressure. Traders should watch for a potential breakdown below $2,848.61, which could trigger a more substantial sell-off.

For now, the recommended strategy is to Sell Below $2,867, with a Take Profit at $2,848 and a Stop Loss at $2,880. Monitoring price action near $2,868.01 will be crucial, as a break above this level could invalidate the bearish outlook.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2867

Take Profit – 2848

Stop Loss – 2880

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1900/ -$1300

Profit & Loss Per Mini Lot = +$190/ -$130