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21.01.202517:57 Forex Analysis & Reviews: Trading Signals for GOLD for January 21-25, 2025: sell below $2,739 (21 SMA - 6/8 Murray)

Relevance up to 10:00 UTC--5

Exchange Rates 21.01.2025 analysis

Early in the American session, Gold (XAU/USD) is trading around 2,737, reaching the 6/8 Murray zone and the top of the uptrend channel which acts as a strong resistance.

In the chart above, we can see that gold has been trading within an uptrend channel since December last year. On this occasion, it is testing a strong resistance zone. So, we believe that a technical correction could occur in the next few days.

If gold consolidates above $2,734 or above $2,700, the outlook could be positive and we could expect it to reach 7/8 Murray at $2,773.

On the contrary, if gold consolidates below 6/8 of Murray, we could expect the metal to fall towards the 21 SMA located at 2,712 and finally towards 5/8 of Murray located at 2,695.

The eagle indicator is in an overbought territory. Therefore, we could expect a technical correction to occur in the next few days.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2025
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