empty
13.12.2024 02:58 PM
Trading Signals for GOLD (XAU/USD) for December 13-16, 2024: buy above $2,659 (200 EMA - 4/8 Murray)

This image is no longer relevant

Early in the American session, gold is trading around 2,666 below the 21 SMA and above the 200 EMA.

Gold is approaching an important support located at 2,656. This level is key and decisive, since above it, we could expect a recovery of gold. Below it, the downtrend could even escalate and gold could reach 2/8 of Murray at 2,578.

If gold consolidates above 2,659 in the next few hours, any technical rebound will be seen as an opportunity to buy with targets at 2,691 and 2,695.

In turn, on the H4 chart, we observe that gold sharply broke the bullish trend channel. It suggests that in case there is a pullback towards 2,695, it will be seen as a signal to sell with short-term targets around 3/8 of Murray located at 2,617.

If gold consolidates above the psychological level of 2,700, the outlook could turn bullish again and the instrument could reach 2,734.

On the contrary, the outlook could turn bearish if gold trades below 2,650.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forecast for EUR/USD on January 9, 2025

Yesterday, the euro consolidated below the 1.0350 level, and during the Pacific session, it continued to decline slowly. The Marlin oscillator on the daily timeframe is also gradually moving downward

Laurie Bailey 04:25 2025-01-09 UTC+2

Forecast for GBP/USD on January 9, 2025

The British pound dropped more than 100 pips yesterday. Although the price approached the target level of 1.2294, the low from April 22, 2024, it did not reach

Laurie Bailey 04:09 2025-01-09 UTC+2

Forecast for AUD/USD on January 9, 2025

The Australian dollar has given up efforts to test the upper boundary of the descending price channel on the daily chart. This price weakness is also reflected in the downward

Laurie Bailey 04:09 2025-01-09 UTC+2

Trading Signals for EUR/USD for January 8-10, 2025: buy above 1.0253 (4/8 Murray - 21 SMA)

Technically, the euro is under bearish pressure. So, we believe that in case there is a technical bounce and the price consolidates below 1.0347 (21 SMA), it will be seen

Dimitrios Zappas 15:55 2025-01-08 UTC+2

Trading Signals for GOLD (XAU/USD) for January 8-10, 2025: buy above, $2,642 (21 SMA - 200 EMA)

If gold bounces around 2,642 in the next few hours and consolidates above this area, it will be seen as an opportunity to buy and the price could return

Dimitrios Zappas 13:56 2025-01-08 UTC+2

Forecast for EUR/USD on January 8, 2025

On Tuesday, the EUR/USD pair made a second reversal in favor of the U.S. dollar above the 1.0405–1.0420 zone and dropped to the support zone of 1.0336–1.0346. A rebound from

Samir Klishi 11:31 2025-01-08 UTC+2

Forecast for GBP/USD on January 8, 2025

On the hourly chart, the GBP/USD pair climbed to the 200.0% corrective level at 1.2569 on Tuesday, rebounded from it, and turned in favor of the dollar with a subsequent

Samir Klishi 11:28 2025-01-08 UTC+2

Forex forecast 08/01/2025: EUR/USD, GBP/USD, USDX, SP500 and Bitcoin

Video Agenda: 00:00 INTRO 00:13 Totay's key events: ADP Nonfarm Employment Change, Initial Jobless Claims, Crude Oil Inventories, FOMC Meeting Minutes 01:58 EUR/USD 03:42 GBP/USD 05:00 USDX 07:11

Sebastian Seliga 10:59 2025-01-08 UTC+2

Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Wednesday January 08, 2024.

If we look at the 4-hour chart of the USD/CAD commodity currency pair, it appears that a bearish Pitchfork channel and a Bearish 123 pattern have formed, coupled with confirmation

Arief Makmur 07:18 2025-01-08 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday January 08, 2024.

On the 4-hour chart, the AUD/JPY cross currency pair, although it looks a bit sideways in its movement, Buyers still have control over this cross currency pair. This is confirmed

Arief Makmur 07:18 2025-01-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.