Contents
Market Recap
Gold has shown exceptional strength in recent sessions, with prices surging to record highs driven by geopolitical tensions and expectations of Federal Reserve rate cuts. The precious metal reached $2,990 per ounce on March 15, 2025, testing the psychological $3,000 milestone. This bullish momentum aligns with technical indicators suggesting continued upward pressure, though volatility remains a key factor. For traders seeking to capitalize on these trends, Exness offers robust tools for executing XAU/USD trades with competitive spreads and reliable execution.Current Price Action and Trends
Price Level:
XAU/USD is currently trading near $2,952 per troy ounce, maintaining its position within a bullish channel. Recent price action reflects a consolidation phase following the record high, with buyers attempting to sustain momentum.Trend:
The short-term trend remains bullish, supported by moving averages and a breakout above key resistance levels. However, intraday corrections are expected as prices test critical support zones.Key Levels:
- Support: $2,925 (immediate) and $2,915 (critical)
- Resistance: $2,975 (near-term) and $3,005 (long-term target)
- Long-Term Target: $3,063.60 projected for the next 12 months
Trading Strategy for XAU/USD
Entry Points
- Pullback Entry: Look for a dip to $2,925 with a bullish RSI divergence (RSI below 40) to enter long positions.
- Breakout Entry: Initiate longs on a sustained close above $2,975, targeting the $3,005 level.
Risk Management
- Stop Loss (SL): Place below $2,915 to protect against a trend reversal.
- Take Profit (TP): Set initial TP at $3,005 with a trailing stop above $2,975 for extended gains.
Key Indicators to Monitor
- RSI: Watch for overbought conditions above 70 to anticipate corrections.
- Moving Averages: Monitor the 50-period SMA ($2,940) and 200-period SMA ($2,860) for trend confirmation.
Rationale for Strategy
- Bullish Drivers: Geopolitical risks (trade tensions), Fed rate cut expectations, and central bank demand.
- Volatility: Monitor news on US-China trade relations and upcoming Fed meetings for catalysts.
Final Advice
Gold’s current trajectory offers compelling opportunities for trend-following traders. Enter long positions during pullbacks to $2,925 with strict risk management below $2,915. Scale out profits at $3,005 while allowing room for a potential breakout to $3,063.60. Stay vigilant for macroeconomic developments that could accelerate or reverse this momentum.