Contents
Market Recap
Gold prices have surged significantly this year, with current levels at 3,383.13 USD/t oz as of April 21, 2025, reflecting a 44.97% year-to-date gain. While bullish momentum remains dominant, short-term corrections are emerging. The weekly forecast suggests a bearish retracement targeting support near 3,205, aligning with recent volatility spikes. For traders seeking secure platforms, Exness offers robust tools for navigating these trends.Current Price Action and Trends
Price Level:
Gold (XAU/USD) trades at 3,383.13, hovering near recent highs amid mixed sentiment.Trend:
The broader trend remains bullish, supported by macroeconomic uncertainty and safe-haven demand, though short-term bearish pressure is evident.Key Levels:
- Support: 3,205 (critical weekly pivot level)
- Resistance: 3,400β3,410 (near-term technical barrier)
- Long-Term Target: 3,509.55 expected within 12 months
Trading Strategy for XAU/USD
Entry Points
Pullback Entry: Await a retracement to 3,310β3,320 (near the 50-period SMA) for bullish entry, aligning with RSI pullbacks from overbought zones. Breakout Entry: Enter above 3,410 with confirmation from a volume spike, targeting the next resistance cluster.Risk Management
Stop Loss (SL): Set below 3,200 (protect against bearish breakdown). Take Profit (TP): Target 3,400 (initial profit) and 3,430 (aggressive target) on pullback entries.Key Indicators to Monitor
RSI: Watch for oversold signals (below 30) on intraday charts for contrarian entries. Moving Averages: Use the 50-period SMA (3,320) and 200-period SMA (3,050) to define trend alignment.Rationale for Strategy
Bullish Drivers: Strong retail and institutional demand, geopolitical risks, and a weaker dollar. Volatility: Elevated intraday swings offer opportunities, but require strict SL discipline.Final Advice
Trade Setup: Initiate long positions at 3,310β3,320 with SL below 3,200. Use partial profit-taking at 3,400 and hold residual exposure for 3,430. Avoid countertrend trades until bullish momentum resumes. Monitor RSI divergence for early signals of trend reversals.