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XAUUSD Technical Analysis - XAUUSD Trading: 2024-12-13
Gold Technical Analysis Summary
Above 2692.50
Buy Stop
Below 2678.73
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
Gold Chart Analysis
Gold Technical Analysis
The technical analysis of XAUUSD price on the 1-hour timeframe shows XAUUSD,H1 is rebounding above the 200-period moving average MA(200) after retracing down from a more than two-week high yesterday. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 2692.50. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 2678.73. After placing the pending order the stop loss is to be moved every day to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (2678.73) without reaching the order (2692.50) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Precious Metals - Gold
Gold prices fell Thursday after stronger than expected US producer prices. Will the XAUUSD price rebound?
Gold has enjoyed a record-breaking rally in 2024, surging 25% year-to-date driven by a combination of Federal Reserve rate cuts, increased central bank purchases and strong safe-haven demand amid geopolitical tensions. The precious metal price fell Thursday after stronger than expected US producer prices spurred bets of a hawkish Fed decision next week. The Bureau of Labor Statistics reported producer prices index (PPI) rose 0.4% last month after an upwardly revised 0.3% increase in October, ahead of the 0.2% gain expected. In annual terms the PPI surged 3.0% in November, after increasing 2.6% in October. Higher prices are seen as hurdles for supporters of interest rate cuts at Federal Reserve and support the views of those who caution against easing the monetary policy before the inflation is beaten decisively. Expectations of less dovish Federal Reserve stance buoys dollar and stronger dollar is bearish for the XAUUSD price. However, the current setup is bullish for gold prices.
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