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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Trading Signals for GOLD (XAU/USD) for December 6-9, 2024: sell below $2,656 (200 EMA - 4/8 Murray)
08:00 2024-12-06 UTC--5
Exchange Rates analysis

Early in the American session, gold is trading around 2,636.20, below the 21 SMA, and below the symmetrical triangle pattern.

Yesterday, gold made a decisive break of the symmetrical triangle pattern and reached a low of 2,612. Since then, we have seen a strong technical bounce. If gold continues to rise, it could find an obstacle to overcome at about 2,644.

If gold reaches the area between 2,650 and 2,656 in the next few hours and if it fails to consolidate above 4/8 Murray, it could be seen as a signal to resume selling, with targets at 2,617 and eventually at 2578.

The outlook remains negative as long as gold trades below 2,656. Any technical bounce will be seen as an opportunity to sell. The goal of the gold bears is to cover the GAP that was left around 2,562.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.