Gold Trading Signal Today (XAU/USD): BUY

In light of the current volatility in global markets and rising geopolitical tensions, gold remains a safe haven for investors seeking protection against risks. We are witnessing renewed upside movement in gold prices after a recent slight pullback, opening the door to promising buying opportunities that align with positive technical signals on both the daily and hourly timeframes.

Recommendation Details Pair: XAU/USD

Action: Buy (BUY)

Entry Range: 3351 3354

Take Profit Targets:

TP1: 3358

TP2: 3363

TP3: 3370

Take profit is open beyond the third target to capture any further bullish momentum.

Stop Loss: 3341

Brief Technical Analysis Strong Support at 3350 3352:

Price has bounced multiple times around the 3350 level, forming a solid support zone that allowed gold to recover from recent lows. This bullish reversal confirms that buyers are in control at this point.

Increasing Bullish Momentum:

The Relative Strength Index (RSI) on the hourly chart has moved modestly toward the overbought region after crossing above the 50 line, indicating that upward momentum could continue in the short term. Additionally, the 20-period Exponential Moving Average (EMA 20) is sloping upward and has turned into a support level once price reclaimed it.

Consecutive Resistance Levels:

Gold faces short-term resistance at 3358 (TP1). A firm break above this level would shift the focus to 3363 (TP2), followed by 3370 (TP3). Clearing each of these levels would confirm sustained bullish momentum.

Risk Management Stop Loss at 3341: Placing the stop loss at 3341 allows a small buffer for normal price fluctuations without exiting the trade prematurely, while maintaining a risk of roughly 10 ticks versus the first profit target.

Adjusting Stop Loss: Once price reaches the first target (3358), it is recommended to move the stop loss to the entry zone (3351 3354) to neutralize risk (trailing stop). After reaching the second target (3363), consider raising the stop loss to 3358 to lock in profits and reduce risk further.

Conclusion This recommendation comes at a time when buyers are steering golds trajectory, driven by a weakening U.S. dollar and expectations that some central banks will adopt dovish policies. It is advised to monitor price action around the identified support levels and execute buy orders within the specified entry range. Adhering to proper money management and placing stop orders and profit targets as outlined will help achieve optimal results and minimize the impact of sudden reversals.

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Note: This gold trading signal is provided for informational purposes only and does not constitute binding investment advice. Please perform your own analysis and follow your risk management rules before making any trading decision.