Today, gold (XAUUSD) opened at USD 3777.11 and closed at USD 3739.52, marking a decline of -1.00%. This variation indicates bearish pressure on the gold market, suggesting a downtrend for the day. The high of USD 3788.79 and the low of USD 3737.79 show moderate volatility. MT4 indicators may confirm this downtrend, and forex signals suggest increased caution for gold traders. While observing these movements, it is crucial to remain attentive to gold trading signals in order to adjust positions accordingly.
Support and resistance levels are essential for gold trading. Key support is at USD 3737.79, while XAUUSD resistance is at USD 3788.79. The pivot point, calculated at (3788.79 + 3737.79 + 3739.52) / 3, is USD 3755.37. Using tools like Heritage Sentinelle can automate the identification of these critical levels, making decision-making easier.
1. Scalping strategyIf the price stays above USD 3737.79, traders can consider taking short positions, using an MT4 expert advisor to automate quick entries and exits.
2. Day trading strategyEntry around the pivot point of USD 3755.37 with an exit close to resistance at USD 3788.79 or support at USD 3737.79, depending on the direction of movement.
3. Swing Trading StrategyWatch for breaks above resistance or support for longer positions, using an MT4 expert advisor to manage trades.
The closing price of USD 3739.52, close to the low, generates a bearish signal. Forex alerts indicate that traders should watch gold trading signals for selling opportunities. Extra vigilance is needed to catch potential reversals.
For a long position, place a stop-loss below USD 3737.79. For a short position, a stop-loss above USD 3788.79 is recommended. The risk/reward ratio should be carefully assessed, and risk management indicators should be used to minimise potential losses.
If the price closes above the (High + Low)/2 average, i.e. USD 3763.29, the outlook would be bullish. However, with the current close, the XAUUSD trend looks bearish in the short term. Gold forecasts need to be adjusted according to future price movements and technical signals.
Discover our expert MT4/MT5 indicator used by over 500 professional traders
English (UK) 
Français