Gold (XAU\/USD) continues its upward momentum, aligning with our positive outlook from the previous report, approaching the first target of $4641 and currently trading at $4639 at the time of writing.<\/p>\n\n\n\n
Technical Outlook \u2013 4-Hour Timeframe:<\/p>\n\n\n\n
The continued influx of buying capital reflects a clear dominance of buyers within the upward trend, enhancing the potential for further gains in the coming period.<\/p>\n\n\n\n
Meanwhile, the Relative Strength Index (RSI) is attempting to alleviate overbought conditions, which could contribute to strengthening the upward momentum.<\/p>\n\n\n\n
The price remains stable above the simple moving averages, confirming the continued positive dominance of the main upward trend.<\/p>\n\n\n\n
As long as gold maintains daily trading above the support level of $4590, the bullish scenario remains the most likely scenario.<\/p>\n\n\n\n
We need:<\/p>\n\n\n\n
A clear and sustained break above the $4641 level, which would further strengthen and accelerate the upward trend, paving the way for broader gains towards the next targets of $4660 and $4684.<\/p>\n\n\n\n
As a reminder, a confirmed break below the 4590 support level could pave the way for the first downward correction, targeting the 4545 area before a reassessment of the trend.<\/p>\n\n\n\n
Note: Today we await high-impact economic data from the US economy (the monthly Producer Price Index and monthly Retail Sales). We may see significant price volatility around the time of the release.<\/p>\n\n\n\n
Note: The risk level in trading gold is relatively high and may not be suitable for all investors.<\/p>\n\n\n\n
Note: The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios are possible.<\/p>\n\n\n\n
Risk Disclaimer:<\/strong> 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. <\/p>\n","protected":false},"excerpt":{"rendered":" Gold (XAU\/USD) continues its upward momentum, aligning with our positive outlook from the previous report, approaching the first target of $4641 and currently trading at $4639 at the time of writing. Technical Outlook \u2013 4-Hour Timeframe: The continued influx of buying capital reflects a clear dominance of buyers within the upward trend, enhancing the potential …<\/p>\n","protected":false},"author":9,"featured_media":122611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[42,41],"tags":[7770,6874],"class_list":["post-122603","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-tech-analysis","category-tech-analysis","tag-fomc-minutes","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/122603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=122603"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/122603\/revisions"}],"predecessor-version":[{"id":122612,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/122603\/revisions\/122612"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/122611"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=122603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=122603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=122603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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