empty
21.03.2023 03:41 PM
Trading Signal for GOLD (XAU/USD) for March 21 - 22, 2023: sell below $1,968 or buy if rebound $1,960 (7/8 Murray - 21 SMA )

This image is no longer relevant

XAU/USD retreats from its annual high reached on March 20 at 2,009.66. The global banking jitters have passed for now and US Treasury yields have been bouncing, erasing Gold's strength.

According to the 1-hour chart, gold is trading below the 21 SMA located at 1,975 and below the strong resistance of 1,986. We can clearly see that the asset is under strong bearish pressure but it could find a bottom around 1,960. At this level in the 4-hour chart, we can see the 21 SMA which will act as strong support and gold could then resume the bullish cycle.

In case gold breaks out sharply and consolidates below 1,960, we would expect a bearish acceleration and the instrument could reach the 6/8 Murray at 1,937 and could ultimately reach the 200 EMA located at 1,919.

On the contrary, if gold remains above 1,960, it could give us a signal to buy with targets at 1,975 (21 SMA) and 1,986 (weekly_resistance).

Since its high reached in the last hours, gold has made a correction of almost $40 as part of profit taking. The instrument is likely to see a technical rebound in the coming hours and then continue with a short-term downtrend.

Our trading plan for the next few hours is to sell below 7/8 Murray located at 1,968, with targets at 1,960. Around this level, we can expect a technical bounce to buy with targets at 1,975. The Eagle indicator from 20 March is giving a negative signal. Hence, as long as the metal trades below 1,985, any technical bounce will be seen as a signal to sell.

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. July 4th. Bears continue to retreat from the market

On Thursday, the EUR/USD pair rebounded once again from the 1.1802 level and declined almost to the 127.2% Fibonacci retracement level at 1.1712. As of Friday morning, the pair

Samir Klishi 10:53 2025-07-04 UTC+2

Forex forecast 04/07/2025: EUR/USD, GBP/USD, USD/JPY, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:51 2025-07-04 UTC+2

GBP/USD. July 4th. Independence Day

On the hourly chart, the GBP/USD pair on Thursday rebounded from the support zone of 1.3611–1.3633, reversed in favor of the pound, and now has every chance to continue rising

Samir Klishi 10:01 2025-07-04 UTC+2

EUR/USD Forecast for July 4, 2025

The main event of yesterday largely aligned with our forecasts — specifically, the anticipated "number play" occurred. But it was done very delicately, just enough to halt the growth

Laurie Bailey 06:01 2025-07-04 UTC+2

GBP/USD Forecast for July 4, 2025

On the daily chart, the British pound has consolidated below the MACD line. It had an excellent opportunity to also consolidate below the support level of 1.3635, but that attempt

Laurie Bailey 05:58 2025-07-04 UTC+2

Natural Gas Forecast for July 4, 2025

Natural Gas (NG) The daily balance indicator line decisively halted yesterday's price surge — Thursday ended with a decline of 2.63%. The drop, in turn, was held back

Laurie Bailey 05:53 2025-07-04 UTC+2

Trading Signals for BITCOIN for July 4-8, 2025: sell below $110,610 (7/8 Murray - 21 SMA)

On the other hand, if Bitcoin consolidates above the 7/8 Murray level, it is likely that it will reach the strong resistance of the 8/8 Murray level located at $112,500

Dimitrios Zappas 05:17 2025-07-04 UTC+2

Trading Signals for GOLD (XAU/USD) for July 4-8, 2025: sell below $3,350 (21 SMA - 3/8 Murray)

If gold recovers above the 200 EMA at 3,327, we could expect a pullback to 3,345. This area represents strong resistance and could be seen as a selling opportunity

Dimitrios Zappas 05:15 2025-07-04 UTC+2

Trading Signals for EUR/USD for July 4-8, 2025: sell below 1.1795 (21 SMA - 8/8 Murray)

The eagle indicator has been giving a negative signal since June 30, so our strategy will remain bearish. As long as the euro price trades below 1.1795, we continue

Dimitrios Zappas 05:13 2025-07-04 UTC+2

EUR/USD. July 3rd. The Most Important Day of the Week

On Wednesday, the EUR/USD pair rebounded from the 1.1802 level, reversed in favor of the U.S. dollar, and showed a slight decline. However, by Thursday morning, the pair had returned

Samir Klishi 12:10 2025-07-03 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.