empty
09.04.2025 04:03 PM
Trading Signals for GOLD (XAU/USD) for April 9-11, 2025: sell below $3,075 (21 SMA - 61.8%)

This image is no longer relevant

Early in the American session, gold is trading around 3,074, testing the strength of the downtrend channel and reaching the 61.8% Fibonacci retracement level, with a strongly bullish bias and consecutive gains of more than $100 in a single day.

If a sharp breakout of the downtrend channel occurs and the gold price consolidates above the 61.8% Fibonacci level located around 3,085, the bullish outlook could favor gold. We could expect the instrument to reach the 8/8 Murray level at 3,125 and ultimately its high of 3,164.

Our trading plan for the coming hours is to sell gold below 3,075 or, if it reaches the 61.8% Fibonacci level around 3,085, with targets at the 21SMA located at 3,024.

Technically, gold has been oversold since yesterday, so this rebound over the last few hours represents a technical correction. Therefore, we believe there could be consolidation below 3,085 in the coming days.

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

Trading Signals for EUR/USD for May 8-12, 2025: buy above 1.1190 (200 EMA - 6/8 Murray)

Early in the European session, the EUR/USD pair is trading around 1.1224, above the 200 EMA, and below the 6/8 Murray, with a bearish bias. The euro is likely

Dimitrios Zappas 06:41 2025-05-09 UTC+2

EUR/USD Forecast for May 9, 2025

Yesterday's data from Germany exceeded expectations. Industrial production in March increased by 3.0%, compared to a forecast of 0.9% and a February decline of 1.3%. The March trade surplus amounted

Laurie Bailey 05:55 2025-05-09 UTC+2

GBP/USD Forecast for May 9, 2025

Yesterday, the Bank of England cut its interest rate by a quarter point, with only seven members of the Committee voting in favor of the decision, contrary to the consensus

Laurie Bailey 05:15 2025-05-09 UTC+2

EUR/GBP Forecast for May 9, 2025

The EUR/GBP pair is anticipated to reverse its downward trend and begin to rise. The wedge-shaped decline since April 11 clearly has a corrective structure, and this downward movement

Laurie Bailey 05:15 2025-05-09 UTC+2

Forecast for EUR/USD on May 8, 2025

On Wednesday, the EUR/USD pair twice rebounded from the resistance zone of 1.1374–1.1383, reversed in favor of the U.S. dollar, and began a new decline toward the 100.0% corrective level

Samir Klishi 10:43 2025-05-08 UTC+2

Forex forecast 08/05/2025: EUR/USD, GBP/USD, USD/JPY, USDX, 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 10:37 2025-05-08 UTC+2

GBP/USD. May 8th. Traders Confused Ahead of the Bank of England Meeting

On the hourly chart, the GBP/USD pair on Wednesday failed to continue its upward movement. Overnight, it consolidated below the 1.3344–1.3357 level, then quickly recovered to this zone and rebounded

Samir Klishi 10:19 2025-05-08 UTC+2

Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Thursday May 08, 2025.

On the 4-hour chart of the main currency pair USD/JPY, although it appears to be strengthening, is indicated by the movement of the USD/JPY price moving above the EMA (21)

Arief Makmur 09:48 2025-05-08 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 08, 2025.

With the appearance of Divergence between the Nasdaq 100 index price movement with the Stochastic Oscillator indicator and its price movement moving above the SMA (50) which has an upward

Arief Makmur 09:48 2025-05-08 UTC+2

EUR/USD Forecast for May 8, 2025

As expected, the Federal Reserve left its monetary policy unchanged following yesterday's meeting. Jerome Powell only slightly reinforced the market's expectations of rising inflation. Markets still anticipate the first rate

Laurie Bailey 05:09 2025-05-08 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.