FX.co ★ Forexo 007 | XAU/USD, GOLD

XAUUSD Technical Analysis Today I want to talk about gold. The market price has been in an upward trend for several days and has been reversing in the same trend. Market prices are currently at 3372. Currently, the price is moving between very strong support and resistance. At present, the support level of the broader market is at 3360, and the resistance level is at 1980. As of the first half of the year, the market has been on an upward trend since the first week and continued to climb to the top. But due to high resistance, the price fell back to the support level. If it falls further below this support level, the next support level in the market outlook is 3342.

If the price returns to the resistance level, the market outlook is expected to break through the resistance level and make a new high. If the resistance manages to crash the market, the next target for the market price will be 3403. Now lets talk about the chart prepared today on the h4 time frame. The time frame for h4 is set up in the chart above, also using support and resistance. If you look at the H4 time frame, the market price is following one of the uptrends and the trendline is very respectful of the market. If the trendline falls below the closing support level during the h4 time frame chart, a new support level may be formed after the market falls below the support level, and the next support level of the market is 3342. 50-day simple moving average color Medium Slate Blue: 150-day simple moving average color Dim Gray