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09.01.202516:47 Forex Analysis & Reviews: Trading Signals for GOLD (XAU/USD) for January 9-15, 2025: buy above, $2,629 or sell below $2,677 (21 SMA - 4/8 Murray)

Relevancia 09:00 2025-01-23 UTC--5

Exchange Rates 09.01.2025 analysis

Early in the American session, gold is trading around 2,677 reaching a strong resistance zone. It is likely that if gold fails to consolidate above this zone, we could see a strong technical correction.

Technically, according to the daily chart, we see that gold is in a strong bullish trend but reaching overbought levels. So, we believe that a technical correction could occur in the next few days towards the 21SMA located at 2,629.

If gold falls below 2,656, the bearish force could persist and the metal could reach the bottom of the bullish trend channel around 2,620.

A sharp break of the bullish trend channel and a daily consolidation below 3/8 Murray could mean a change in trend. Therefore, gold could fall with the target of 2/8 Murray around 2,578. The instrument could even cover the gap left at 2,562 and reach the low for the month of November around 2,528.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2025
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