Gold Swing Trading 5/2/2024 | FXstreet.cz

Gold (XAU/USD): The commodity is on the 1-hour chart in a descending trend channel that has been valid after seven bounces since December 20.

The price of gold (XAU/USD, GOLD) is now trading near the key resistance of 1250 – 1258. We will consider breaking the support of 1243 as a signal of the start of a downtrend, then the decline will probably continue towards the support of 1234 and then towards 1204.

The price of gold (XAU/USD, GOLD) is trading in an uptrend, which may continue towards the resistance of 1265 and then towards the resistance area of ​​1291 – 1319. Conversely, a downtrend is not yet expected this week, however, trading in a sideways trend is possible between 1246 support and 1265 resistance.

Gold (XAU/USD): The commodity is in a downtrend channel on the 1-hour chart, which has been valid after nine bounces since December 28.

The price of gold (XAU/USD, GOLD) is trading in a downtrend. If we see a weakening of the gold price towards the 1307 level, we can expect an upward rebound towards the 1314 resistance level here.

We will consider the breaking of the support area 1225 – 1230 as a signal of the start of a downward trend, then the decline will probably continue towards the support level 1217.

Gold (XAU/USD): The commodity is on the 1-hour chart in a descending trend channel that has been valid after seven bounces since December 20.

Gold (XAU/USD): This commodity was in a rather downtrend on the 1-hour chart yesterday. The support is at the level of 2004. Now we could consider a short position with the target at the nearest support. In the event of a subsequent rebound from support, we could consider a long position with the target at the nearest resistance. In case of a clear breaking of the support, we could consider a short position. Resistance is at the level of 2038 and 2062. The upcoming fundamental news should not affect the development of this market.

The price of gold (XAU/USD, GOLD) is trading in a sideways trend between the support of 1246 and the resistance of 1265. We can consider overcoming this resistance as the start of an uptrend, and the growth can then continue towards the level of 1293.

Gold (XAU/USD): The commodity is on the 1-hour chart in a descending trend channel that has been valid after ten bounces since December 28.

Gold (XAU/USD): This commodity is moving sideways on the 1-hour chart. Support is at the level of 2150 and 2120. In the event of a rebound from the support, we could consider a long position with the target at the nearest resistance. In case of a clear breaking of the support, we could consider a short position. The resistance is at the level of 2210. In the event of a rebound from the resistance, we could consider a short position with the target at the nearest support. In the event of a clear break through of the resistance, we could consider a long position. The upcoming fundamental news should not affect the development of this market.

Gold (XAU/USD): The commodity is on the 1-hour chart in a descending trend channel that has been valid after four bounces since April 11.

Gold (XAU/USD): This commodity is moving sideways on the 1-hour chart. Support is at the level of 2004. Resistance is at the level of 2038 and 2062. In the event of a rebound from the support, we could consider a long position with the target at the nearest resistance. In case of a clear breaking of the support, we could consider a short position. The upcoming fundamental news should not affect the development of this market.

Gold (XAU/USD): This commodity is in an uptrend on the 1-hour chart. Support is at 1973 and 1937.50. In the event of a rebound from resistance, we could consider a short position with the target at the nearest support. If the resistance is broken, we could consider a long position. The resistance is at the level of 2072 and 2132. The upcoming fundamental news should not affect the development of this market.

As long as the price of gold (XAU/USD, GOLD) trades below the resistance of 1339.50, we can expect a continuation of the downward trend towards the support area of ​​1314 – 1307. In case of breaking the level of 1307, we can expect a further decline towards the support level of 1295 and beyond towards 1270.

Gold (XAU/USD, GOLD) is trading in a zone between support 1305 and resistance 1315. We will consider a drop below support 1305 as a signal of the start of an intraday downtrend, then the decline could continue to support 1290.

The price of gold (XAU/USD, GOLD) is trading in a sideways trend between the support of 1286 and the resistance of 1293. As the continuation of the rising trend, we can consider the overcoming of the resistance of 1293, the growth can then continue towards the resistance level of 1304.

Gold (XAU/USD): The commodity is on the 1-hour chart in a rising trend channel valid after five bounces since October 29.

Gold (XAU/USD): The commodity is in a downtrend channel on the 1-hour chart, valid after eight bounces since December 20.

Gold (XAU/USD): This commodity was in an uptrend on the 1-hour chart yesterday. Support is at the level of 2017. Resistance is at the level of 2072 and 2132. In the event of a rebound from the resistance, we could consider a short position with the target at the nearest support. If the resistance is broken, we could consider a long position. The upcoming fundamental news should not affect the development of this market.