XAUUSD Global Trade Analysis

On Monday, at the end of the Asian market, spot gold continued to rebound. The gold price has now rebounded to around US$1,977 per ounce. The gold price has rebounded sharply from the session low.
Gold prices started trading today with a strong decline and fell below $1977/oz, suggesting that the outlook for gold prices will turn bearish. However, we note that gold prices are trying to recover again, and the stochastic indicator has clearly gained positive momentum, which leads us to predict that gold prices will move higher today. . Gold would need to break above $1,977/oz to confirm a resumption of the bullish trend, with the next major target at $2016/oz.
From the 4-hour chart, the 50-period exponential moving average (EMA) continues to support gold prices in a bullish trend. What needs to be taken into consideration is that if the price of gold fails to break through $1977 per ounce, this will cause the price of gold to fall further and test the main target of $1945 per ounce.

Comment:

active trade

Comment:

active trade

Comment:

active trade

Comment:

active trade

Comment:

active trade

Comment:

active trade