empty
28.04.2025 06:49 AM
GOLD – Technical Analysis Overview

This image is no longer relevant

Last week, the bulls updated historical highs and formed a new maximum extremum at 3499.58. Afterward, gold entered a downward correction towards the support of the daily short-term trend at 3346.45. The market has taken a pause. If bearish sentiment receives a new impulse for development, the next target will be the daily medium-term trend at 3227.79, and then the corrective decline may extend toward the support of the weekly short-term trend at 3164.81. Eliminating the daily golden cross at 3163.64 and consolidating below the weekly levels at 3164.81–3131.58 would open up new bearish prospects.

This image is no longer relevant

On the lower timeframes, the main advantage remains with the bears. The market is operating below the key levels, currently at 3334.45 (the daily central Pivot level) and 3356.56 (the weekly long-term trend). Consolidation above the trend line and its reversal could shift the current balance of forces in favor of further bullish recovery. Resistance levels will be important for the bulls if the market starts developing directed movements, and support levels will be important for the bears according to the classic pivot points. Pivot levels are updated daily, and new actual data will appear at the opening of trading.

***

Technical Analysis Components:
  • Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) and Fibonacci Kijun levels
  • H1: Classic Pivot Points and 120-period Moving Average (weekly long-term trend)
Evangelos Poulakis,
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

Forecast for EUR/USD on May 28, 2025

On Tuesday, the EUR/USD pair consolidated below the 1.1374–1.1380 zone and then rebounded from it from below. This confirms the continuation of the downward move, and a close below

Samir Klishi 11:32 2025-05-28 UTC+2

Forex forecast 28/05/2025: NZD/USD, EUR/USD, USD/JPY, Gold, 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 10:44 2025-05-28 UTC+2

GBP/USD – May 28th: How Will the FOMC Minutes Influence the Market?

On the hourly chart, the GBP/USD pair continued its decline on Tuesday and consolidated below the 161.8% Fibonacci retracement level at 1.3520. This means that the downtrend could continue today

Samir Klishi 09:54 2025-05-28 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 28, 2025.

With the appearance of Convergence between the movement of the AUD/JPY currency pair against the Stochastic Oscillator indicator and also confirmed by its price movement which is moving above

Arief Makmur 08:39 2025-05-28 UTC+2

EUR/USD Forecast for May 28, 2025

On Tuesday, the euro underwent a technical correction from the resistance level 1.1420. On the same day, gold declined by 1.14%, WTI crude oil by 0.44%, and government bond yields

Laurie Bailey 05:08 2025-05-28 UTC+2

GBP/USD Forecast for May 28, 2025

On Tuesday, the British pound hesitated to enter the narrow wedge between the price channel line and the target level 1.3635. In the context of a 0.42% strengthening

Laurie Bailey 05:08 2025-05-28 UTC+2

USD/JPY Forecast for May 28, 2025

Yesterday, the USD/JPY pair posted solid growth—0.90% or 149 pips—on the back of a 0.42% strengthening of the U.S. dollar index. As a result, the price is now trading above

Laurie Bailey 05:08 2025-05-28 UTC+2

EUR/JPY. Current Market Situation and Forecast

Today, the EUR/JPY pair is attracting buyers after declining during the Asian session to the key 162.00 level. From a technical standpoint, oscillators on both the hourly and daily charts

Irina Yanina 19:28 2025-05-27 UTC+2

Trading Signals for GOLD (XAU/USD) for May 27-29, 2025: buy above $3,281 (6/8 Murray - 21 SMA)

On the other hand, if gold maintains bullish momentum, the price could break above resistance at 3,330, and then we could expect a new bullish sequence, potentially reaching 3,437

Dimitrios Zappas 18:33 2025-05-27 UTC+2

Trading Signals for EUR/USD for May 27-29: sell below 1.1350 (21 SMA - 7/8 Murray)

If the euro breaks the uptrend channel, we could expect a drop towards the 200 EMA located at 1.1230 and could even reach the gap it left

Dimitrios Zappas 18:31 2025-05-27 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.