Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold (XAU-USD) prices continued their sharp rise during the morning trading session, recording a high of $3,867.
Technical Outlook – 4-Hour Timeframe:
Price action remains supported by stability above the simple moving averages, which act as dynamic support, reinforcing the upward trend. The bullish trend clearly dominates, with buying momentum continuing despite the relative strength reaching overbought areas, which could be considered a warning signal.
Likely Scenario:
If a breakout of the 3,867 resistance level is confirmed, gold will gain additional momentum toward deeper gains near 3,900.
Conversely, if the 3,868 level holds, along with overbought signals, a downward correction may occur, aiming to retest 3,796 before continuing the upward trend.
Warning: The risk level is high and may not be proportional to the reward.
Warning: Today, we are awaiting high-impact economic data from the US economy, including job openings and labor turnover. We may experience significant price volatility when the news is released.
Warning: Risk is high amid ongoing trade and geopolitical tensions, and all scenarios are possible.
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: 3796.00 | R1: 3900.00 |
| S2: 3727.00 | R2: 3935.00 |
| S3: 3692.00 | R3: 4005.00 |
