empty
22.01.2024 05:09 PM
Trading Signals for GOLD (XAU/USD) on January 22-23, 2024: buy above $2,020 (21 SMA - 200 EMA)

This image is no longer relevant

Early in the American session, gold is trading around 2,025.38 and above the 21 SMA 2,020.73. Gold is retreating after having reached the 5/8 Murray zone during the European session. As it did not manage to overcome and consolidate at that level, the metal is now trading at the EMA 200 which acts as a strong resistance.

In the next few hours, we expect gold to continue consolidating above 2,020. If this scenario comes true, we could expect gold to try again to break the 2,029 barrier. Finally, the XAU could reach the top of the downtrend channel forming since December 26 at 2,045. If the bullish force prevails it could reach 6/8 Murray at 2,062.

In case gold breaks below 2,020 and consolidates below 2,018, we could expect a strong bearish acceleration and gold could reach the psychological level of $2,000 and even the one-month support of 1,992.

In the H4 chart, we can see the formation of a pennant pattern. This pattern could be confirmed only if gold breaks and consolidates above 2,031. The target of this pattern could be at 6/8 Murray around 2,062.

As the eagle indicator has been giving a positive signal since January 9, any pullback and if it trades above 2,020, will be seen as an opportunity to buy. In case gold falls below this area, we should avoid buying or taking our losses because the bearish cycle could resume.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forex forecast 25/03/2025: EUR/USD, USD/CAD, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:56 2025-03-25 UTC+2

Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs, Tuesday March 25, 2025.

From what is seen on the 4-hour chart of the EUR/JPY cross currency pair, it is clearly visible that EUR/JPY is moving in a strengthening condition, which is indicated

Arief Makmur 07:19 2025-03-25 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Tuesday March 25,2025.

If we look at the 4-hour chart of the Gold commodity instrument, a Bearish 123 pattern appears followed by several Bearish Ross Hook (RH) and is also confirmed

Arief Makmur 07:19 2025-03-25 UTC+2

EUR/USD Forecast for March 25, 2025

On Monday, the euro declined by 14 pips. An attempt to reverse upward was made. A repeat attempt is possible today and may be more successful, although the support level

Laurie Bailey 04:59 2025-03-25 UTC+2

GBP/USD Forecast for March 25, 2025

Yesterday, the British pound rose by four pips, pushing the Marlin oscillator lower and bringing it to touch the zero line. We can now expect the upward signal to solidify

Laurie Bailey 04:59 2025-03-25 UTC+2

AUD/USD Forecast for March 25, 2025

The Australian dollar avoided breaking below the lower boundary of the sideways trend range and rose by 11 pips yesterday. However, the daily-scale balance indicator line (the red moving average)

Laurie Bailey 04:59 2025-03-25 UTC+2

Trading Signals for GOLD (XAU/USD) for March 24-27, 2025: sell below $3,032 (21 SMA - overbought)

Early in the American session, gold is trading at 3,026, below the 21st SMA and below the 7/8 Murray level. We expect consolidation below this area in the coming hours

Dimitrios Zappas 16:44 2025-03-24 UTC+2

Forex forecast 24/03/2025: EUR/USD, GBP/USD, USD/JPY, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 14:34 2025-03-24 UTC+2

Weekly Technical Analysis for March 24–29: GBP/USD Currency Pair

Last week, the pair moved downward and tested the 14.6% retracement level at 1.2879 (red dashed line), closing the weekly candle at 1.2915. In the upcoming week, the price

Stefan Doll 13:24 2025-03-24 UTC+2

Weekly Technical Analysis for March 24–29: EUR/USD Currency Pair

Last week, the pair moved downward and tested the historical resistance level of 1.0948 (light blue dashed line), after which the price declined and closed the weekly candle at 1.0815

Stefan Doll 13:22 2025-03-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.