Register for MT4 Demo Account

Register for xStation Account

Trading Idea on XAUUSD (Gold)

By Research Team Friday, Jul 21, 2023

    • 5.13pmd1
    • High1973.88
    • Low1961.09
    • Close1965.14

The Gold prices climbed to $1970 levels from lower levels of $1900 in the last two weeks amid positive global cues. Majorly, the steady USD ahead of the U.S FOMC meeting which is to be held in next week with a hope of less hawkish monetary stance with a hike of 25bps made the precious metals to trade on higher side. The controlled U.S inflation rate & slower progress in U.S employment rate limits the chances of Fed to adopt aggressive monetary policy in this year. Besides this, the China unveiled the plan of offering the stimulus measures to Beijing in order to support economic growth & hence, may increase the consumption demand of Gold since China is a top consumer of metals. Again, this pushed up the gold prices. Upcoming ECB & BoJ meet which are scheduled in next week may remain significant for commodities. As seen in the chart, the Gold showed a reversal from long-term MA (200) which acts as major support level & are forming higher highs on weekly basis. Currently, the commodity is trading within MA (100) & short-term MA (10) & MA (20) which indicates either side breakout. The ADX line is trading near crucial level 25 which signals for indecisive trend on short-term basis. However, the long-term trend in Gold seems to be bullish & may remain intact with high trading volume. If breaches MA (100) & Fibo level 50.0, a strong upside can be witnessed in Gold. Buying on corrective dips may be recommended in gold with the next possible targets of $1998 & $2028.

Read More… Read Less

Weekly Outlook


Intra Day
Near Day

Technical Levels

R3 2049.44
R2 2007.4
R1 1983.31
Turnaround 1966.04
S1 1944.61
S2 1924.4
S3 1882.64

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.


© 2023 XFlow Markets, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.


XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

Telephone number: UK: +44 20 38355241 | Dubai: +971 54 339 3959 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.