Contents
Market Recap
Trading gold with Exness offers unparalleled opportunities to capitalize on macroeconomic shifts and geopolitical tensions. Recent volatility, driven by U.S. employment data and shifting risk sentiment, has positioned XAU/USD at critical technical levels.Current Price Action and Trends
Price Level
XAU/USD currently fluctuates near $3,095, having retreated from record highs of $3,167 reached on April 3, 2025. The price remains within a bullish channel, with upward momentum intact as per moving averages.Trend
The medium-term trend is bullish, supported by a strong uptrend channel and buyer pressure indicated by moving averages. However, short-term corrections are likely as the price tests resistance near $3,135.Key Levels
- Immediate Resistance: $3,135 (short-term) and $3,165 (critical breakout level).
- Major Resistance: $3,205 and $3,235 (weekly targets).
- Support: $3,112 (intraday) and $3,025 (correction target).
Long-Term Target
A sustained breakout above $3,165 could propel gold toward $3,235 or higher if bullish momentum accelerates. Failing to hold above $3,055 would invalidate the uptrend, targeting $3,015.Trading Strategy for XAU/USD
Entry Points
- Pullback Entry: Buy during a retest of $3,112 support if RSI rebounds from oversold territory.
- Breakout Entry: Enter long on a confirmed close above $3,165 resistance, signaling trend continuation.
Risk Management
- Stop Loss (SL): Place below recent swing lows (e.g., $3,055) or the bullish trendline.
- Take Profit (TP): Set at $3,205 (primary target) and $3,235 (extended target).
Key Indicators to Monitor
- RSI: A bounce from 30-40 on intraday charts may signal bullish revival; a close below 30 would confirm oversold conditions.
- Moving Averages: 50-period and 200-period MAs remain bullish, with price trading above both.
Rationale for Strategy
- Bullish Drivers: Safe-haven demand amid uncertain markets and potential weakness in the USD.
- Volatility: Heightened due to U.S. economic data releases (e.g., ISM Services PMI), requiring tighter stop-losses.
Final Advice
Aim to enter long positions during pullbacks to $3,112 with a SL at $3,055 and TP at $3,205. For breakout traders, wait for confirmation above $3,165 before taking exposure. Stay vigilant during U.S. data releases, as sharp reversals are likely. Always prioritize risk-reward ratio and adapt to evolving support/resistance dynamics.Note: Trading gold involves risks; always use proper risk management. For a demo or live account, visit Exness.
