Today, gold (XAUUSD) opened at USD 3373.54 and closed at USD 3355.44, posting a slight fall. The percentage change between opening and closing was -0.54%. This fall, albeit modest, indicates downward pressure on the market. The fact that the closing price is close to the day's low suggests a short-term downtrend. Gold traders should watch the MT4 indicators for additional forex signals to confirm this trend. Current price movements may indicate consolidation, but the close near the low could signal a continuation of the decline.
The support and resistance levels for gold today are crucial. Gold support is at the day's low of USD 3354.83, while XAUUSD resistance is at the high of USD 3373.54. The pivot point, calculated as (3373.54 + 3354.83 + 3355.44) / 3, is at USD 3361.27. Using tools like Heritage Sentinelle can help to automatically identify these critical trading levels.
1. Scalping strategy If the price stays above USD 3354.83, scalpers can look for quick buying opportunities. An MT4 expert advisor can automate these entries and exits.
2. Day trading strategy Long entry if the price exceeds USD 3361.27 (pivot point) with an exit close to resistance at USD 3373.54. Conversely, short entry below USD 3354.83 with a quick exit.
3. Swing Trading Strategy Watch for a break above USD 3373.54 for a long position, or below USD 3354.83 for a short position, using an MT4 expert advisor to manage the positions.
The closing price at USD 3355.44, close to the low, is generating a bearish signal for gold traders. Forex alerts should be monitored for additional gold trading signals, potentially confirming a continuation of the downtrend.
For a long position, a stop-loss below USD 3354.83 is recommended, while a stop-loss for a short position should be placed above USD 3373.54. The risk/reward ratio is essential for maximising profits while minimising losses. Risk management indicators can help determine these levels more accurately.
Closing below the (High + Low)/2 average, at USD 3364.185, suggests a bearish short-term outlook. Gold forecasts indicate that if this trend continues, we could see continued downward pressure on the XAUUSD. Traders should remain vigilant and adjust their strategies according to the current XAUUSD trend.
Discover our expert MT4/MT5 indicator used by over 500 professional traders
English (UK) 
Français