Today, gold (XAUUSD) opened at USD 4097.3 and closed at USD 4117.84, showing a positive variation of 0.50%. This progression indicates a bullish trend for the day, reinforced by the fact that the closing price is close to the day's high (USD 4127.13). Gold seems to be benefiting from an economic environment in which markets reacted positively to a weaker-than-expected US consumer price index (CPI). Gold traders can use MT4 indicators to confirm this uptrend, watching for forex signals that could indicate a continuation of this momentum.
The support and resistance levels for gold today are crucial. Gold support is at the day's low of USD 4090.99, while XAUUSD resistance is at the high of USD 4127.13. The pivot point, calculated as (4127.13 + 4090.99 + 4117.84) / 3, is USD 4111.32. Heritage Sentinelle can help identify these levels automatically, providing a valuable tool for traders.
1. Scalping strategy If the price stays above USD 4090.99, scalpers can try to take advantage of small price movements by using an MT4 expert advisor to automate their trades.
2. Day trading strategy Entry at USD 4111.32 (pivot point) with an exit target close to resistance at USD 4127.13, with a stop-loss below USD 4090.99.
3. Swing Trading Strategy Traders can consider going long if the price rises above USD 4127.13, with a stop-loss below USD 4090.99, and aiming for higher medium-term targets.
The closing price of USD 4117.84, close to the high, generates a bullish signal for gold trading. Forex alerts can be set to detect breaks above resistance, signalling potential buying opportunities.
For a long position, a stop-loss should be placed below USD 4090.99, while a short position should have a stop-loss above USD 4127.13. The risk/reward ratio is essential to maximise potential gains while minimising losses, and risk management indicators can help determine the appropriate levels.
With a close above the (High + Low)/2 average, the short-term outlook for gold is bullish. Gold forecasts indicate that if this trend holds, gold could continue to rise, supported by a positive XAUUSD trend. Traders should remain vigilant for technical and economic signals that could influence this dynamic.
Discover our expert MT4/MT5 indicator used by over 500 professional traders
English (UK) 
Français