GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold breaks above $3,077, confirming short-term bullish momentum.

- RSI at 66.95 suggests room for further upside without overextension.

- Channel support and SMA alignment keep the bias bullish unless $3,065 fails.

Gold continues to extend its bullish trajectory, with XAU/USD trading at $3,085.34 after breaking above the short-term pivot at $3,077.

The move confirms bullish continuation within a well-established ascending channel, as buyers maintain control despite broader macroeconomic uncertainties.

The recent breakout is supported by favorable momentum and strong trend structure, reinforcing the case for additional upside toward $3,105 and potentially $3,118.82.

The 50-period Simple Moving Average, currently at $3,037.63, has provided consistent dynamic support, aligning with the channel's lower boundary.

The Relative Strength Index (RSI) holds at 66.95, suggesting momentum remains healthy without tipping into extreme overbought territory.

A potential trade setup emerges with a buy entry above $3,077, targeting $3,105 as the primary resistance, with a stop loss set at $3,065. This configuration offers a compelling risk-to-reward ratio of approximately 1:2.3.

As long as the price holds above $3,070, the bias remains firmly bullish. However, any drop below the $3,065 support could trigger a short-term correction toward $3,055 and possibly $3,037.

This technical structure continues to favor the bulls, supported by rising moving averages, solid channel support, and a well-behaved RSI.

Traders should monitor price action closely near the $3,105 resistance, as a break above this level could open the door to fresh highs toward $3,118.82.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3077

Take Profit – 3105

Stop Loss – 3065

Risk to Reward – 1: 2.3

Profit & Loss Per Standard Lot = +$2800/ -$1200

Profit & Loss Per Mini Lot = +$280/ -$120