Daily Trade Ideas

GOLD Price Analysis and Trade Forecast: Daily Trading Signal

By LonghornFX Technical Analysis
Sep 18, 20231 min
Signal 2023 05 25 122622 002

Daily Price Outlook

    Gold demonstrates a pronounced bullish inclination, targeting the $1,929 mark. This aligns with the prospects of persisting positive momentum, with an initial goal set at $1,945.20.

    Today's forecast leans towards a bullish stance, bolstered by the price movement above the EMA50. However, this momentum might encounter intermittent lateral shifts influenced by the stochastic downturn.

    Conversely, it's pivotal to acknowledge that any inability to surpass $1,929 could instigate a price regression towards the $1,913.15 territory. Today's anticipated trading span oscillates between the support at $1,920 and resistance at $1,945.20.

    GOLD Price Chart – Source: Tradingview
    GOLD Price Chart – Source: Tradingview

    GOLD (XAU/USD) - Trade Idea 

    Entry Price – Buy Stop 1932

    Take Profit – 1942

    Stop Loss – 1925

    Risk to Reward – 1: 1.4

    Profit & Loss Per Standard Lot = +$1000/ -$700

    Profit & Loss Per Micro Lot = +$100/ -$70

    Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.

    GOLD

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