Gold price holds the advannce to record another all-time high at $3,275 per troy ounce in the Asian session on Wednesday. Safe-haven demand amid US President Donald Trump's uncertain tariff plans, softer US Dollar and prospects of further easing by the Federal Reserve provide some support to the yellow metal.
Technically, the daily chart for the XAU/USD pair shows that bulls have just paused, yet are far from giving up. Technical indicators resumed their advances within overbought levels, although with limited strength, given that the pair remains below the record high posted last Friday. Meanwhile, the pair stands above all its moving averages, which maintain solid bullish slopes, in line with the dominant bullish trend.
The near-term picture shows that, while technical indicators corrected extreme readings, the XAU/USD pair is consolidating. The 4-hour chart reading suggests XAU/USD could soon resume its run. At the same time, a firmly bullish 20 Simple Moving Average (SMA) provided intraday support, while extending its advance above also bullish 100 and 200 SMAs.
Xauusd sell signal 3272
Support 3257
Support 3246
Support 3226
Resistance 3286
Resistance 3301
Xauusd signal
Technically, the daily chart for the XAU/USD pair shows that bulls have just paused, yet are far from giving up. Technical indicators resumed their advances within overbought levels, although with limited strength, given that the pair remains below the record high posted last Friday. Meanwhile, the pair stands above all its moving averages, which maintain solid bullish slopes, in line with the dominant bullish trend.
The near-term picture shows that, while technical indicators corrected extreme readings, the XAU/USD pair is consolidating. The 4-hour chart reading suggests XAU/USD could soon resume its run. At the same time, a firmly bullish 20 Simple Moving Average (SMA) provided intraday support, while extending its advance above also bullish 100 and 200 SMAs.
Xauusd sell signal 3272
Support 3257
Support 3246
Support 3226
Resistance 3286
Resistance 3301
Xauusd signal
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Xauusd sell 80 pips done 👍Trade closed: target reached
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Resistance 70 pips running Note
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Xauusd Note
All resistance hit 300 pips running Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.