Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices (XAU/USD) extended their rally in early trading of the current session, surpassing the previous target at 3,505 and recording a new high at 3,508, reflecting the persistence of strong bullish momentum.
Technical Outlook – 4-hour timeframe:
The broader trend remains bullish, supported by price action along the ascending trend line. Stability above the simple moving averages continues to provide dynamic support, reinforcing the positive bias. Meanwhile, the Relative Strength Index (RSI) has exited the overbought zone in a healthy manner, indicating that buyers retain control of the market.
Probable Scenario:
The 3,452 level represents the key intraday support for protecting the upside bias. A confirmed break above the recent high of 3,508 would strengthen bullish momentum and open the way for deeper gains. Conversely, a return of selling pressure would be confirmed by a break below 3,452, exposing the price to a potential retest of retracement zones.
Fundamental Note:
Today’s session includes high-impact US economic data, particularly the ISM Manufacturing PMI, which could trigger heightened volatility upon release.
Warning: Risks remain elevated 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: 3452.00 | R1: 3523.00 |
| S2: 3409.00 | R2: 3551.00 |
| S3: 3381.00 | R3: 3594.00 |
