GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

The gold price concluded the previous session above the level of $1913.15, thereby affirming the trajectory for an ongoing bullish momentum and the attainment of fresh positive objectives commencing at $1929.00 and extending to $1945.20. Consequently, the prospects for a bullish trend persist as a valid and active scenario, underpinned by the EMA50's supportive influence from beneath.

It's worth noting that a breach of the $1913.15 threshold could disrupt the anticipated upward movement and potentially trigger a renewed decline. The anticipated trading range for the present day ranges between the support level of $1905.00 and the resistance level of $1940.00. The outlook for today is expected to remain bullish.

GOLD (XAU/USD) - Trade Idea

Entry Price – Buy Above 1915

Take Profit – 1930

Stop Loss – 1909

Risk to Reward – 1: 2.5

Profit & Loss Per Standard Lot = +$1500/ -$600

Profit & Loss Per Micro Lot = +$150/ -$60