empty
 
 
08.08.2024 04:54 PM
Trading Signals for GOLD (XAU/USD) for August 8-10, 2024: sell if pullback at $2,424 or buy above $2,406 (200 EMA - symmetrical triangle)

This image is no longer relevant

Early in the American session, gold is trading at about 2,406, above the 21 SMA, and above the 200 EMA, showing a positive signal. It could gain momentum above 5/8 Murray. It might reach the high of August 5 around 2,417 and even the weekly resistance at 2,324.

If gold continues to rise, we could look for opportunities to buy above the 5/8 Murray located at 2,406 with targets at 2,417 and 2,424 as the instrument is technically producing a bullish signal.

On the contrary, if gold pulls back towards the symmetrical triangle pattern that was broken around 2,399, we could expect a technical bounce to occur and it could be seen as an opportunity to buy. This outlook will be valid as long as gold consolidates above the psychological level of $2,400.

Should the bullish momentum prevail, we could expect gold to reach a strong resistance zone around 2,424. This level could be key and we could expect a technical correction to occur there. Should gold fail to consolidate above 2,425, it will be seen as an opportunity to sell.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Agosto, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback