11.09.202416:54 Forex Analysis & Reviews: Trading Signals for GOLD (XAU/USD) for September 11-13, 2024: buy above $2,507 (21 SMA - 8/8 Murray)

Relevance up to 10:00 2024-09-25 UTC--4

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold (XAU/USD) is trading around 2,506.68 early in the US session, bouncing back after negative US inflation figures, which helped gold fall from 2,523 to 2,503. We are now watching a technical bounce as gold retains its bullish trend.

In case XAU/USD consolidates above the 21 SMA at about 2,507 in the next few hours, the price is expected to reach 2,521, 2,529 and finally, it could reach +1/8 of Murray located at 2,539.

With a sharp break of the uptrend channel, the metal could reach the 200 EMA located around 2,475 and finally, it could reach 7/8 Murray around 2,460.

The Eagle indicator is showing a positive signal. So, if the instrument trades above 2,507 or above 2,503, we will look for buying opportunities with the target at 2,539. A drop below 2,500 could change our positive outlook.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.