Today, gold (XAUUSD) opened at USD 3875.48 and closed at USD 3888.65, marking a positive variation of 0.34%. This progression indicates a moderate uptrend. The price fluctuated between a low of USD 3856.01 and a high of USD 3896.06, indicating significant volatility. Gold traders can use MT4 indicators to confirm this uptrend, watching for forex signals that could indicate a continuation or reversal. The close near the high suggests continued bullish potential.
Today's support and resistance levels are USD 3856.01 and USD 3896.06 respectively. The pivot point, calculated as (3896.06 + 3856.01 + 3888.65) / 3, is USD 3880.24. "Heritage Sentinel can be used to automatically identify these critical gold support and XAUUSD resistance levels, helping to make informed decisions.
1. Scalping strategy If the price stays above USD 3856.01, scalpers can look for opportunities to buy quickly, using an MT4 expert advisor to automate trades.
2. Day trading strategy Entry at USD 3,880.24 with an exit target close to USD 3,896.06, keeping an eye on intraday fluctuations.
3. Swing Trading Strategy Take advantage of the uptrend by placing buy orders above the pivot point, with a medium-term target of USD3,900.
The closing price of USD 3888.65, close to the high, is generating a bullish signal. Traders should watch forex alerts for additional gold trading signals, indicating buying opportunities.
For a long position, a stop-loss is recommended below USD 3856.01. For a short position, place it above USD 3896.06. It is crucial to maintain a favourable risk/reward ratio, using risk management indicators to protect capital.
With a close above the (High + Low)/2 average, the gold forecasts indicate a bullish short-term outlook. The XAUUSD trend could continue to rise if current conditions persist, underpinned by economic uncertainty linked to the US government shutdown.
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