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03.12.202416:37 विदेशी मुद्रा विश्लेषण और समीक्षा: Trading Signals for GOLD (XAU/USD) for December 3-5, 2024: buy above $2,640 (21 SMA - GAP)

Relevance up to 09:00 2024-12-17 UTC--5

Exchange Rates 03.12.2024 analysis

Early in the American session, the XAU/USD is trading around 2,642 which matches the 21 SMA and below the 200 EMA with bullish potential.

On the H4 chart, we can see a symmetrical triangle pattern in progress which could mean that there could be a continuation of the bullish movement in the next few days.

Gold left a gap at around 2,656. It is likely that if it consolidates above 2,650, we could expect the instrument to cover this gap. So, we could even expect a further upward move until reaching 5/8 Murray at 2,695.

On the other hand, if gold returns below the 200 EMA (2,652), the outlook could remain negative. We could then expect a sharp decline with the target at 2,617. The metal could even reach 2/8 Murray at 2,578.

The Eagle indicator is showing a negative signal. So, as long as the gold price remains below 2,665, the medium-term outlook will be bearish.

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

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