Daily Trade Ideas

GOLD Price Analysis and Trade Forecast: Daily Trading Signal

By LonghornFX Technical Analysis
Jul 28, 20231 min
Signal 2023 05 25 122622 002

Daily Price Outlook

    The price of gold has consolidated above the level of $1945.20, indicating potential signs of a bullish rebound. The stochastic positivity observed on the four-hour timeframe suggests a bullish bias in the upcoming sessions, with the price potentially aiming to test the level of $1977.25.

    As long as the price remains above $1955.00, the overall positive scenario remains valid, reinforcing the positive outlook. However, if the price breaks below $1945.20, the suggested bullish trend may come to a halt, leading to a potential decline in the price.

    For today's trading, the expected range is between support at $1940.00 and resistance at $1975.00. The expected trend for today is bullish.

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

     GOLD(XAU/USD) - Trade Idea

    Entry Price – Buy Limit 1945

    Take Profit – 1965

    Stop Loss – 1935

    Risk to Reward – 1: 2

    Profit & Loss Per Standard Lot = +$2000/ -$1000

    Profit & Loss Per Micro Lot = +$200/ -$100

    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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