08.08.202416:54 Forex Analysis & Reviews: Trading Signals for GOLD (XAU/USD) for August 8-10, 2024: sell if pullback at $2,424 or buy above $2,406 (200 EMA - symmetrical triangle)

Relevance up to 10:00 2024-08-22 UTC--4

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Early in the American session, gold is trading at about 2,406, above the 21 SMA, and above the 200 EMA, showing a positive signal. It could gain momentum above 5/8 Murray. It might reach the high of August 5 around 2,417 and even the weekly resistance at 2,324.

If gold continues to rise, we could look for opportunities to buy above the 5/8 Murray located at 2,406 with targets at 2,417 and 2,424 as the instrument is technically producing a bullish signal.

On the contrary, if gold pulls back towards the symmetrical triangle pattern that was broken around 2,399, we could expect a technical bounce to occur and it could be seen as an opportunity to buy. This outlook will be valid as long as gold consolidates above the psychological level of $2,400.

Should the bullish momentum prevail, we could expect gold to reach a strong resistance zone around 2,424. This level could be key and we could expect a technical correction to occur there. Should gold fail to consolidate above 2,425, it will be seen as an opportunity to sell.

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.