XAU/USD Continues Trading Above the $1,800 Mark

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Since five trading sessions ago when XAU/USD price tested the support level of $1,790, price action has become more bullish on average. Furthermore, in this ongoing session, buyers are already in control and may push prices higher in this session. Let’s further examine market activities to make better trading decisions.

Major Price Levels:
Top Levels: $1,808.85, $1,820, $1,840
Floor Levels: $1,800, $1,780, $1,760

XAU/USD Continues Trading Above the $1,800 Mark

XAU/USD Price Stays Above Support at $1,800

Price action in the XAU/USD daily market has risen past the $1,800 level. Furthermore, technical indicators continue to predict that trading activities in this market may continue to move toward higher price levels. Looking at the MACD indicator, one will observe that the lines of this indicator have been reluctant to fall under the equilibrium level. Consequently, the lines of this indicator remained very close to each other as they moved sideways above the equilibrium level. Meanwhile, the Stochastic RSI lines have performed a bullish crossover, and are now at 36.25 and 31.31. Activities on technical indicators continue to point out that prices may continue to rise in this trading session.

XAU/USD Continues Trading Above the $1,800 Mark

XAU/USD Price Is Approaching $1,810 Mark

On the XAU/USD 4-hour market, price action has moved from $1,808 to $1,809.45. Also, technical indicators continue to indicate that the price may go higher. Studying the RSI, we can see that the crossover, which was observed on a daily market, has been replicated here as well. Additionally, the lines of this indicator continue to move upwards and are now at levels 36.39 and 31.74. At the same time, the lines of the MACD indicator have come together for a bullish crossover, with these lines at 1.32 and 1.25 levels. Furthermore, the appearance of the latest price candle here tells that upside forces are still active. Summing up the signs perceived in this market, traders can expect a further price increase toward the $1,820 level in this market.

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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.