FX.co ★ XAU/USD, GOLD

Hello traders, Gold XAUUSD (H4) is trading above the day's opening level of 4507.00 and above the daily Pivot level of 4454.00. Key indicators show a bullish trend, with the price above the 72-period moving average trend line, where volume unloading usually occurs. A price increase above the level of 4575.00 will allow the price to move towards the level of 4590.00 or even higher towards 4600.00. Below the level of 4575.00, the pair will head south towards the level of 4550.00 and may even go lower to 4507.00. The pair is trading above the monthly Pivot level of 4345.11 (previous 4130.27), above the weekly Pivot level of 4457.60, and above the daily Pivot level, indicating a bullish sentiment for the pair. The opening level of the day is at 4575.00 for this session. The first resistance is at 4600.00, with the first support at 4550.00.