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FX.co ★ Trading Signals for GOLD (XAU/USD) for March 24-27, 2025: sell below $3,032 (21 SMA - overbought)

Trading Signals for GOLD (XAU/USD) for March 24-27, 2025: sell below $3,032 (21 SMA - overbought)

Trading Signals for GOLD (XAU/USD) for March 24-27, 2025: sell below $3,032 (21 SMA - overbought)

Early in the American session, gold is trading at 3,026, below the 21st SMA and below the 7/8 Murray level. We expect consolidation below this area in the coming hours.

After reaching a high of $3,058 and following a technical correction toward the psychological level of $3,000, gold has rebounded and is now consolidating below the 21st SMA, forming a bearish continuation pattern.

If there is a drop below 3,025, the outlook could be negative, and we could sell and expect gold to reach 6/8 Murray at 2,968 in the coming days.

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The weekly pivot point is around 3,027. So, we believe that if the gold price consolidates below this area in the coming days, it could have a bearish sequence. We could then expect a technical correction to occur until the weekend.

On the other hand, if gold consolidates above 3,032, we could expect it to reach the last resistance around 3,046 (7/8 Murray), which will also be seen as an area to sell.

The eagle indicator is reaching overbought levels, so we believe a technical correction could occur in the coming days, before resuming its bullish cycle.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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