empty
 
 
31.01.2023 04:29 AM
Trading Signal for GOLD (XAU/USD) for January 31, 2023: buy above $1,920 (21 SMA - range)

This image is no longer relevant

XAU/USD is trading within a range of 1,915 - 1,935. This consolidation is due to investors awaiting data regarding the Fed's monetary policy meeting and US Nonfarm Payrolls.

The US Federal Reserve, the European Central Bank, and the Bank of England will announce their decisions on monetary policy between Wednesday and Thursday. This could trigger strong volatility in the market and gold could move out of range.

In the next few hours, gold is expected to continue trading within the range of 1,915 towards the 21 SMA located at 1,930. A sharp break above 1,931 could mean an acceleration to the upside and the price could reach 1,949 and even the psychological level of $2,000.

On the contrary, in case gold falls and consolidates below 1,915, it will be a clear signal to sell, with targets at the psychological level of 1,900. The metal could even reach 6/8 of Murray at 1,875.

Our trading plan is to buy above 1,920, with targets at 1,930 or to wait for any of the out-of-range areas to give us the signal to buy or sell. The eagle indicator reached the extremely oversold zone. It is likely that in the next few hours, gold will rebound and could reach 1,930 and even up to the Murray 7/8 at 1,937.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback