empty
27.05.2024 04:59 AM
Trading Signals for GOLD (XAU/USD) for May 27-29, 2024: buy above $2,335 (21 SMA - rebound)

This image is no longer relevant

Gold is trading at 2,334, above the daily pivot point, and within the downtrend channel forming on the H1 chart. Gold is showing signs of overselling and is now consolidating above the 21 SMA which means that there could be a continuation of the technical bounce and the instrument could reach the 200 EMA located at 2,370 and even the top of the downtrend channel around the 2,375.

If the price falls below 2,330 in the next few hours, it could continue its decline and could reach the first daily support at about 2,323. Gold could even accelerate its decline until reaching the bottom of the downtrend channel around 2,312.

On the other hand, if gold consolidates and settles above 2,335 in the next few hours, the outlook could be positive and could reach the daily R_1 at 2,343, daily R_2 at 2,352 and finally it could reach the weekly pivot point at 2,361.

In case gold falls below the low of 2,330, we should avoid buying as a bearish acceleration could occur. The best solution would be to wait for a new technical rebound.

Since May 23, the eagle indicator since May 23 has been giving a positive signal. So, we believe that a technical rebound above 2,335 will offer an opportunity to buy. On the contrary, a technical rebound at 2,323 could also be seen as a signal to buy.

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

EUR/JPY. Current Market Situation and Forecast

Today, the EUR/JPY pair is attracting buyers after declining during the Asian session to the key 162.00 level. From a technical standpoint, oscillators on both the hourly and daily charts

Irina Yanina 19:28 2025-05-27 UTC+2

Forecast for EUR/USD on May 27, 2025

On Monday, the EUR/USD pair returned to the support zone of 1.1374–1.1380. A rebound from this zone would once again work in favor of the euro and a resumption

Samir Klishi 11:47 2025-05-27 UTC+2

Forecast for GBP/USD on May 27, 2025

On the hourly chart, the GBP/USD pair continued to rise on Monday from the 161.8% Fibonacci retracement level at 1.3520. However, in the middle of the day, news broke that

Samir Klishi 11:44 2025-05-27 UTC+2

Forex forecast 27/05/2025: EUR/USD, GBP/USD, SP500, Gold, and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:19 2025-05-27 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Tuesday May 27, 2025.

With the movement of Gold prices on the 4-hour chart moving above the WMA (21) with a slope that is going upwards, Gold in the near future has the potential

Arief Makmur 09:01 2025-05-27 UTC+2

Technical Analysis of Intraday Price Movement of GBP/AUD Cross Currency Pairs, Tuesday May 27, 2025.

If we look at the 4-hour chart of the GBP/AUD cross currency pair, it appears that there is a Divergence between the GBP/AUD price movement and the Stochastic Oscillator indicator

Arief Makmur 09:01 2025-05-27 UTC+2

EUR/USD Forecast for May 27, 2025

On Monday, the euro gently reached the target level of 1.1420 and then pulled back by 50 pips just as smoothly, closing the day with a white candlestick, carefully maintaining

Laurie Bailey 05:26 2025-05-27 UTC+2

GBP/USD Forecast for May 27, 2025

Yesterday, the British pound closed the day with a 23-pip gain — not much, but it came with a promising breakout through the nearest inner line of the price channel

Laurie Bailey 05:26 2025-05-27 UTC+2

AUD/USD Forecast for May 27, 2025

On Monday, the Australian dollar reached the price channel line before falling by more than 50 pips and ultimately closing the day with a black (bearish) candlestick. The preceding upward

Laurie Bailey 05:26 2025-05-27 UTC+2

Oil Forecast for May 27, 2025

Crude Oil (CL) A medium-term decline appears to be forming in the oil market. On Monday, the price failed to break above the balance indicator line (there was a false

Laurie Bailey 05:26 2025-05-27 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.