FX.co ★ NexusTrader | XAU/USD, GOLD

Gold Intraday Analysis: In today's session, we will look more closely at the future course of the gold prices. After a weak break from the up - trend line, more gains are expected. Despite a few minor declines, the price trend has continued to rise, and today's performance has been outstanding. It is getting closer to the 4508.71 mark, which may be the beginning of the future gains. The Gold's price is likely to remain high. A break - even of 4518.71 would suggest that purchasing should go on. Notably, the price continued to rise during the today's European session after a slight decline. If the present improvement continues and there is a break above 4525.71, it would be a fantastic opportunity to continue buying.

A false break - out at 4508.71 might be a buy signal if the small sellers are eager to push the market below that level, where stop - loss orders are set. But we do not think there would be such a big decline from the current level. A break - out above the 4523.71 resistance - level, however, would be the first sign of a price increase and might push the gold prices up to the 4524.71 resistance level. A further decline and a false breach below the 4498.71 region would be a clear signal to continue buying. A strong indicator that the exchange rate is going to increase is a bullish divergence. Gaining traction beneath this trend would be a great selling opportunity.