- Macro Overview:
Gold prices are fluctuating around $2,500 per troy ounce during the quiet U.S. holiday, with trading volumes concentrated near this level. Selling pressure appears above this level, while buying support is observed below. Traders are awaiting this Friday's U.S. labor market report, which could increase volatility.
Until then, gold prices are likely to hover around $2,500.
- Technical Analysis:
XAUUSD failed to hold above the 78 EMA and dropped to 2495. The price has fallen below the trendline but still maintains solid support above 2490. If XAUUSD closes above both the EMA and the trendline, the price may continue to surge to 2530. Conversely, if XAUUSD fails to hold above 2490, the price could decline to 2465.
Gold prices are fluctuating around $2,500 per troy ounce during the quiet U.S. holiday, with trading volumes concentrated near this level. Selling pressure appears above this level, while buying support is observed below. Traders are awaiting this Friday's U.S. labor market report, which could increase volatility.
Until then, gold prices are likely to hover around $2,500.
- Technical Analysis:
XAUUSD failed to hold above the 78 EMA and dropped to 2495. The price has fallen below the trendline but still maintains solid support above 2490. If XAUUSD closes above both the EMA and the trendline, the price may continue to surge to 2530. Conversely, if XAUUSD fails to hold above 2490, the price could decline to 2465.
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.
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.