empty
05.03.2025 05:38 AM
Trading Signals for GOLD (XAU/USD) for March 4-6, 2025: sell below $2,908 (21 SMA - 61.8%)

This image is no longer relevant

Early in the European session, gold was trading around $2,907 at about the 61.8% Fibonacci retracement. XAU/USD is showing signs of exhaustion after having reached the weekly high of 2,929. So, we believe that there could be a technical correction in the next few hours.

During yesterday's American session, after the announcement of tariffs by US President Donald Trump, gold reached 7/8 Murray around 2,930, increasing the value of the metal as a refuge measure by investors.

Technically, gold reached overbought levels. However, we believe that the technical correction could continue in the next few hours, and gold could reach 2,890 (6/8 Murray) and even the 21 SMA around 2,880.

On the other hand, in case gold fails to consolidate above 7/8 Murray located at 2,929, it will be seen as an opportunity to sell. This area represents an important resistance zone. We reckon that gold could continue declining below this zone.

The renewed demand for safe-haven assets could help gold in the short term. Hence, its price could reach the 8/8 Murray zone around 2,968. Thus, even the bullish target around the psychological level of $3,000 is getting closer.

The Eagle indicator is showing a positive signal. So, once the metal is above the 21 SMA, it will be seen as an opportunity to buy in the short term with a target at 2,968.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Forecast for March 21, 2025

By the end of yesterday's trading session, the euro had declined by 47 pips, retreating from an earlier attempt to break above the 1.0949 level. The support at 1.0882

Laurie Bailey 03:43 2025-03-21 UTC+2

GBP/USD Forecast for March 21, 2025

At yesterday's Bank of England meeting, only one member voted for a rate cut, compared to the expected two. Despite this, the British pound fell by 32 pips, influenced

Laurie Bailey 03:43 2025-03-21 UTC+2

AUD/USD Forecast for March 21, 2025

The Australian dollar experienced a notable decline of 58 pips yesterday, with the Marlin oscillator settling in bearish territory. However, this is not yet a signal for a developing downtrend

Laurie Bailey 03:43 2025-03-21 UTC+2

Trading Signals for EUR/USD for March 20-22, 2025: sell below 1.0864 (+1/8 Murray - 21 SMA)

At the same time, fears about economic growth in the Eurozone are also playing a role against the euro, as this could force the ECB to further reduce interest rates

Dimitrios Zappas 16:43 2025-03-20 UTC+2

Trading Signals for GOLD (XAU/USD) for March 20-22, 2025: buy above $3,023 (7/8 Murray - 21 SMA)

Early in the American session, gold is trading around 3,032, undergoing a strong technical correction after reaching a new all-time high around 3,057. Despite selling pressure from profit-taking, it could

Dimitrios Zappas 16:41 2025-03-20 UTC+2

EUR/USD. March 20th. Bears Failed to Regain Control Once Again

On Wednesday, the EUR/USD pair rebounded from the 1.0944 level for the third time and reversed in favor of the U.S. dollar, declining toward the 200.0% Fibonacci level at 1.0857

Samir Klishi 10:41 2025-03-20 UTC+2

Forecast for GBP/USD on March 20, 2025

On the hourly chart, the GBP/USD pair rebounded from the 127.2% Fibonacci retracement level at 1.3003 on Wednesday, followed by a slight decline. Shortly after, the pair returned to 1.3003

Samir Klishi 10:36 2025-03-20 UTC+2

GBP/USD: Pound Losing Significant Bullish Momentum

The British currency has recently gained significantly against the dollar due to two key factors: the weakness of the U.S. currency amid recession risks in America and uncertainty about

Pati Gani 10:25 2025-03-20 UTC+2

Technical Analysis of Intraday Price Movement GBP/CHF Cross Currency Pairs, Thursday March 20, 2025.

Currently on the 4-hour chart, the GBP/CHF cross currency pair is seen moving in a Sideways condition, this can be seen from the WMA (30 Shift 2) moving through

Arief Makmur 07:23 2025-03-20 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday March 20, 2025.

As seen on the 4-hour chart, the Nasdaq 100 index appears to have 3 interesting things, namely the first is the appearance of a Bullish 123 pattern, the second

Arief Makmur 07:23 2025-03-20 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.