Gold (XAUUSD) Continues Strong Bullish Momentum With Potential Further Upside

Market Analysis – April 3

Gold is maintaining a strong bullish momentum with the possibility of further gains. The 9-day Simple Moving Average (SMA) currently sits around $3,070, serving as dynamic support for the ongoing uptrend. The MACD histogram remains in positive territory, with the signal line positioned above the zero level, reinforcing the bullish momentum. The recent price retracement has not dropped below the SMA, indicating that buyers continue to dominate the trend. Overall, momentum indicators are in alignment with the prevailing bullish bias reflected in price action.

Gold Key Levels

Resistance Levels: $3100, $3200, $3300
Support Levels: $2960, $2790, $2580

Gold Long-Term Trend: Bullish

A Break of Structure (BOS) around $3,100 suggests continued upward movement, with price activity confirming a clear bullish structure. The rally that led to this new high was driven by a Fair Value Gap (FVG) that had previously been filled near $2,790. The market has established a strong demand zone by holding the main support area at approximately $2,960. With the formation of higher highs and higher lows, the trend remains in favor of the bulls.
In the short term, XAUUSD is likely to approach the $3,200 resistance level. If there is a convincing breakout above this point, further upside could follow, targeting the psychological level of $3,300. Should sellers attempt a pullback, it is unlikely to extend beyond the $2,960 support. As long as these support zones remain unbroken, the overall bullish trend stays intact, with potential for continued appreciation. Traders may find opportunities in this environment, particularly when paired with accurate forex signals.

Gold Short-Term Trend: Bullish

Gold (XAUUSD) is currently undergoing a retracement from $3,100 and attempting to recover the short-term moving average near $3,120. A successful break above this level could push the price toward the next resistance at $3,200.
If bullish momentum is sustained, the price may reach the critical resistance at $3,300. However, if it fails to stay above $3,100, a significant retracement could occur.

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