Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices (XAU/USD) extended their gains yesterday, reaching the official target highlighted in the previous technical report at $3,399 per ounce.
Technical Outlook – 4-hour timeframe:
Intraday movements are currently reflecting a natural corrective pullback due to mild profit-taking. Despite this, prices remain firmly above the 50-period simple moving average, which continues to support the prevailing uptrend. Price action along the rising trend line further reinforces the bullish structure, while the Relative Strength Index (RSI) maintains positive signals, suggesting room for broader gains.
Likely Scenario:
As long as intraday trading remains above the 3,380 support—and generally above 3,375—the bullish outlook is favored. Upside targets begin at 3,399 as initial resistance, with a confirmed break above the 3,400 psychological barrier opening the way toward 3,413, and possibly extending to 3,427. Conversely, renewed selling pressure would be confirmed by a break below 3,375, which could trigger a decline toward 3,361 as the next support.
Fundamental Note:
Today’s session brings high-impact US economic data, including the preliminary quarterly GDP reading and weekly unemployment claims. These releases may cause sharp price fluctuations upon release.
Warning: Risks remain high amid ongoing trade and geopolitical tensions, and all scenarios should be considered.
Risk Disclaimer: Trading CFDs involves risks, and therefore all scenarios may be plausible. The content above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 3375.00 | R1: 3401.00 |
| S2: 3361.00 | R2: 3413.00 |
| S3: 3349.00 | R3: 3427.00 |
