Happy Friday, dear traders. Today, we come with trading signals for the XAUUSD market, the last trading session of this week. Let’s explore the gold market.

Today's Technical Analysis and Trading Signal on XAUUSD (Gold)

Today’s Technical Analysis and Trading Signal on XAUUSD (Gold) Market by Guriforex:

XAUUSD (Gold) continues its impressive bull run. It is now approaching a critical resistance level at 2610. This level aligns with the 161.8 Fibonacci extension. This resistance is a key area for traders to monitor. It could halt the current momentum or lead to further upside. The Relative Strength Index (RSI) is signaling overbought conditions. Stochastic oscillators also indicate a similar situation. These signals suggest that the market may be overextended. As a result, a trend reversal could occur soon. Traders should remain cautious of potential shifts in momentum.

The overbought readings suggest that the recent bullish momentum may be losing strength, but as with all technical indicators, it’s essential to wait for confirmation. Although the bullish trend remains intact, we cannot ignore the possibility of a corrective pullback.

📉 Gold Technical Breakdown

🔍 XAUUSD Market Key Levels to Watch

💬 What’s Your Trading Plan? Are you expecting a breakout above 2610, or do you think the overbought conditions will lead to a pullback? Let’s hear your thoughts!

Please share your thoughts 🧠 about this analysis in the comments!💬

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