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

EUR/USD: How Will Trump's Inauguration Impact the Dollar?

1.0154. However, midday saw a reversal favoring the euro, initiating growth toward the Fibonacci level of 127.2% at 1.0255. A consolidation above this level could indicate further growth toward

Samir Klishi 12:57 2025-01-14 UTC+2

GBP/USD. January 14th. Two Inflations: What Should the Pound Expect?

On the hourly chart, the GBP/USD pair continued its decline for half of Monday but then reversed in favor of the pound, rising to the 1.2191 level. Today, consolidation below

Samir Klishi 12:42 2025-01-14 UTC+2

Forex forecast 14/01/2025: EUR/USD, USD/JPY, GBP/USD, Oil, USDX and Bitcoin

Video Agenda: 00:00 INTRO 00:13 Totay's key events: ECB's Lane Speaks, German ZEW Economic Sentiment, PPI, EIA Short-Term Energy Outlook, API Weekly Crude Oil Stock 01:57 EUR/USD 04:20 GBP/USD 05:55

Sebastian Seliga 10:19 2025-01-14 UTC+2

Video analysis for January 14, 2025

Potential for the furthert drop in BTC/USD

Petar Jacimovic 09:30 2025-01-14 UTC+2

Technical Analysis of Intraday Price Movement of AUD/USD Commodity Currency Pairs, Tuesday January 14, 2025.

With the appearance of deviations between the price movements of the AUD/USD commodity currency pair which formed a Lower Low while the Stochastic Oscillator indicator on the contrary formed

Arief Makmur 06:03 2025-01-14 UTC+2

Technical Analysis of Daily Price Movement of USD/CAD Commodity Currency Pairs, Tuesday January 14, 2025.

If we look at the daily chart of the USD/CAD commodity currency pair, it appears that a Bullish Pitchfork channel has formed, which indicates that the USD/CAD

Arief Makmur 06:01 2025-01-14 UTC+2

EUR/USD and GBP/USD on January 14 - Technical Analysis of the Situation

Yesterday, the pair tested the historical support level at 1.0200, and by the end of the day, it formed a rebound. Today, the euro may confirm this result, possibly leading

Evangelos Poulakis 05:31 2025-01-14 UTC+2

Forecast for EUR/USD on January 14, 2025

The euro failed to overcome the support on the first attempt on the weekly chart. We hadn't expected such a bold move from the bears. Currently, the price is undergoing

Laurie Bailey 04:25 2025-01-14 UTC+2

Forecast for GBP/USD on January 14, 2025

Yesterday, the pound sterling formed a small candlestick with a long lower shadow, closing above the 1.2186 level. This reversal pattern shows potential to test the nearest resistance at 1.2294

Laurie Bailey 04:25 2025-01-14 UTC+2

Forecast for USD/JPY on January 14, 2025

The USD/JPY pair quickly retreated from the 159.32 level after a false breakout on Friday. While the price is still aiming to break above this level, its movement is constrained

Laurie Bailey 04:25 2025-01-14 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.