Gold (XAUUSD) Regains Bullish Momentum, Targets Level $1,846.13

Azeez Mustapha
30 July 2021 | Updated: 30 July 2021

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Bullish
On June 29, XAUUSD fell to the low of $1,755 as bulls bought the dips. XAUUSD rebounded above the current support as buyers pushed the Gold price to the high of $1,834. Gold was rejected at the recent high on July 15. Today, buyers are retesting the same resistance level to break it. On the upside, if the resistance at level $1,834 is breached, the market will rally to $1,880 high. Meanwhile, on July 15 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.618 Fibonacci extension or level $1,886.69.

XAUUSD – Daily Chart

Daily Chart Indicators Reading:
Gold has risen to level 60 of the Relative Strength Index period 14. It indicates that Gold is in the uptrend zone and above the centerline 50. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend. A break above the 50-day SMA will propel Gold to rise.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold price has fallen to a low of $1,794.The gold price was fluctuating between levels $1,794 and $1,807 before the eventual breakout. Meanwhile, on July 26 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that Gold will rise to level 2.618 Fibonacci extension or level $1,846.13.

XAUUSD – 3 Hour Chart

4-hour Chart Indicators Reading
Gold is above the 80% range of the daily stochastic. It indicates that the market has reached the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
XAUUSD has resumed upward move as bulls bought the dips. Gold’s price rebounded above the previous low of $1,794 to reach the high of $1,830. According to the Fibonacci tool, the market will rise to level $1,846.13.


You can purchase crypto coins here. Buy Tokens


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
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!
Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.