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FX.co ★ Trading Signals for GOLD (XAU/USD) for March 19-21, 2025: sell below $3,045 (+2/8 Murray + 21 SMA)

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Forex Analysis:::2025-03-19T13:00:07

Trading Signals for GOLD (XAU/USD) for March 19-21, 2025: sell below $3,045 (+2/8 Murray + 21 SMA)

Trading Signals for GOLD (XAU/USD) for March 19-21, 2025: sell below $3,045 (+2/8 Murray + 21 SMA)

Early in the American session, gold is trading around 3,039, below the +2/8 Murray level and reaching overbought levels, as it could technically be preparing for a sharp decline.

During the European session, gold reached a new all-time high around $3,045.29, and has since seen a technical correction. However, it is showing signs of exhaustion. It is likely that after consolidation, a technical correction could occur in the coming days.

The bulls could take profits, which could lead the precious metal to a technical correction.

In the US, the Federal Reserve will announce its monetary policy decision this afternoon. No change is expected; however, Chairman Powell's speech could influence gold prices in the short term.

A consolidation below $3,045 could set the stage for a technical correction toward the psychological level of $3,000. Therefore, we will look for shorting opportunities in the coming days as long as the price remains below the +2/8 Murray level.

Analyst InstaForex
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