Today, gold (XAUUSD) opened at 3644 USD and closed at 3666.81 USD, marking a positive variation of 0.62%. This progression indicates a moderate uptrend over the day. The price fluctuated between a low of USD 3635.07 and a high of USD 3670.56, suggesting moderate volatility. Analysis of the "MT4 indicators" could reinforce this observation, providing relevant "forex signals" for gold trading. The current trend appears to be slightly upwards, but traders should remain vigilant for potential movements influenced by the Fed's decisions.
Support and resistance levels for the XAUUSD are crucial for trading decisions. Gold support is around 3635.07 USD, while XAUUSD resistance is close to 3670.56 USD. The calculated pivot point is (3670.56 + 3635.07 + 3666.81) / 3 = 3657.48 USD. The Heritage Sentinel tool can help identify these levels automatically, making it easier for traders to make decisions.
1. Scalping strategyIf the price stays above USD 3635.07, traders can consider short positions with quick exits, using an MT4 expert advisor to automate entries and exits.
2. Day trading strategyEntry at USD 3,657.48 with an exit close to resistance at USD 3,670.56, keeping an eye on intraday fluctuations.
3. Swing Trading StrategyUSD 3,635.07: Watch for a possible return to support at USD 3,635.07 and go long, aiming for a medium-term exit at USD 3,670.56.
The closing price of USD 3666.81, close to the day's high, is generating a bullish signal for gold trading. Gold trading signals and forex alerts should be monitored to confirm this uptrend.
For a long position, a stop-loss is recommended below 3635.07 USD. For a short position, place the stop-loss above 3670.56 USD. The importance of the risk/reward ratio is crucial, and "risk management indicators" can help optimise positions.
The above-average close (USD 3652.815) suggests a short-term bullish outlook. Gold forecasts indicate that if this trend continues, the XAUUSD could continue to test upper resistances. However, traders should remain alert to "XAUUSD trends" influenced by upcoming economic events.
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