Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700, $1,650
Gold (XAUUSD) Long-term Trend: Bearish
Gold is in a downtrend as it may face rejection at $1,859 . The price broke below the moving averages to reach the low of $1,799. For the past week, the support has been holding as Gold made an upward correction to reach the previous highs. The current uptrend is likely to face rejection as the market reaches an overbought region. Meanwhile, on March 14 downtrend; a retraced candle body tested the 50 % Fibonacci retracement level. The retracement indicates that Gold will fall to level 2.0 Fibonacci extension or level $1,748.51.
Daily Chart Indicators Reading:
Gold is at level 43 of the Relative Strength Index for period 14. XAUUSD is in the downtrend zone. It is likely to further decline as it reaches the overbought region. XAUUSD has a bearish crossover. That is the 21-day line SMA crosses below the 50 –day line SMA indicating a sell order. The 21-day line SMA and the 50-day line SMA are sloping downward indicating the downtrend
Gold (XAUUSD) Medium-term bias: Bullish
On the 4-hour chart, Gold is in an upward move as price breaks above the moving averages. XAUUSD has risen and reached an overbought region of the market. The upward move is stalled as price fluctuates below the resistance level.
4-hour Chart Indicators Reading
XAUUSD is above the 80% range of the daily stochastic. The market is in bearish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the previous trend.
General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) price is in a downtrend as it may face rejection at $1,859. Presently, it is making an upward correction to the previous highs. The selling pressure will resume if Gold faces rejection in the overbought region.
You can purchase crypto coins here. Buy LBlock
Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.