GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bearish Below $2,925.36: Holding below the pivot targets $2,888.73 and $2,864.18, signaling continued downward momentum.

- Bullish Above $2,925.36: A breakout above $2,955.49 could push prices towards $2,980.42 and $3,005.91.

- Technical Setup: 50 EMA at $2,925.93 acts as dynamic resistance, reinforcing short-term bearish sentiment.

Gold (XAU/USD) is trading at $2,911.71, down 0.01%, reflecting cautious sentiment as it hovers below the pivot point at $2,925.36. The price is also trading under the 50 EMA at $2,925.93, reinforcing short-term bearish momentum.

If the price remains below this pivot, the next target is immediate support at $2,888.73, with a deeper decline towards $2,864.18. A further drop could test $2,834.62, signaling a continuation of the bearish trend.

On the upside, a break above the pivot at $2,925.36 would shift sentiment to bullish, targeting immediate resistance at $2,955.49.

A stronger breakout could push prices towards $2,980.42, with an extended rally reaching $3,005.91 if buying momentum sustains. However, given the current bearish bias and downward pressure from the 50 EMA, the path of least resistance remains to the downside.

The technical outlook suggests a cautious sell below the pivot of $2,925, with an entry targeting $2,888 and a stop loss at $2,947. This setup offers a favorable risk-reward ratio, aligning with the short-term bearish sentiment.

Traders should watch for volume confirmation and price action around the pivot point to validate the bearish momentum before committing to short positions.

Conversely, if the price breaks above $2,925.36 with significant buying volume, it would invalidate the bearish setup and open the path for a potential bullish reversal.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 2925

Take Profit – 2888

Stop Loss – 2947

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$3700/ -$2200

Profit & Loss Per Mini Lot = +$370/ -$220