empty
31.01.2025 03:17 PM
Trading Signals for GOLD (XAU/USD) for January 31, 2025: buy above $2,780 (21 SMA - 8/8 Murray)

This image is no longer relevant

Early in the American session, Gold (XAU/USD) is trading around 2,797 with a bullish bias above the 21 SMA and within the uptrend channel forming since January 13.

Gold is expected to reach the psychological level of $2,800 in the next few hours or it could even reach 8/8 Murray around 2,812. The instrument could even break through and reach the weekly resistance located at 2,823.

If a technical correction occurs, the gold price is expected to find good support around 2,780 which could be seen as an opportunity to resume buying with a target at 2,812.

In case gold falls below 2,780, the outlook could be negative and we could expect a technical correction towards the 21 SMA located at 2,769. Besides, the price could even reach the bottom of the uptrend channel around 2,761.

The trend remains bullish for gold. Since technically, we see strong buying opportunities, we believe that gold could reach the key level of 2,812 in the coming days.

The Eagle indicator is showing a positive signal, so we will look for buying opportunities in case there is a technical correction towards 2,780 or even towards 2,769.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dimitrios Zappas
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forecast for EUR/USD on July 29, 2025

On Monday, the EUR/USD pair reversed in favor of the U.S. dollar and experienced a sharp decline toward the 100.0% Fibonacci retracement level at 1.1574. Without a doubt, such

Samir Klishi 14:43 2025-07-29 UTC+2

GBP/USD – July 29th: The Pound Did Not Stay on the Sidelines

On the hourly chart, the GBP/USD pair continued its decline on Monday and, by early Tuesday, had firmly broken below the support zone of 1.3357–1.3371. As a result, the British

Samir Klishi 13:46 2025-07-29 UTC+2

Forex forecast 29/07/2025: EUR/USD, USDX, USD/JPY, SP500, Nasdaq and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:31 2025-07-29 UTC+2

148.91 currently becomes the main target for USD/JPY to test in the near future, Tuesday, July 29, 2025.

USD/JPY – Tuesday, July 29, 2025. Based on the Golden Cross position on the EMA (50) and EMA (200), it indicates a dominant bullish bias in USD/JPY. However

Arief Makmur 06:55 2025-07-29 UTC+2

Cable is attempting to test and break through the 1.3316 support level on Tuesday, July 29, 2025.

GBP/USD – Tuesday, July 29, 2025. The Death Cross condition of the EMA (50) which is below EMA(200) and the neutral bearish RSI (14) indicates that the GBP/USD bearish bias

Arief Makmur 06:55 2025-07-29 UTC+2

EUR/USD Forecast for July 29, 2025

After yesterday's drop of more than 160 pips due to a highly unfavorable trade deal between the EU and the U.S., the euro's chances of rising toward the upper boundary

Laurie Bailey 05:02 2025-07-29 UTC+2

GBP/USD Forecast for July 29, 2025

By the end of yesterday, the British pound declined by 82 pips, breaking through the target support at 1.3369. Today's session opened below this level, and a daily close beneath

Laurie Bailey 05:02 2025-07-29 UTC+2

USD/JPY Forecast for July 29, 2025

The USD/JPY pair continues its upward movement toward the target level of 149.38, which is signaled by the unclosed gap from July 21. If the price breaks through this resistance

Laurie Bailey 05:02 2025-07-29 UTC+2

GBP/USD. Technical Analysis for the Week of July 28 – August 2

Last week, the pair moved upward and tested the historical resistance level at 1.3591 (blue dashed line), then reversed and closed the weekly candle at 1.3435. In the upcoming week

Stefan Doll 19:16 2025-07-28 UTC+2

EUR/USD. Technical Analysis for the Week of July 28 – August 2

Last week, the pair moved upward and tested the upper fractal at 1.1790 (weekly candle from July 6, 2025), after which the price turned downward, closing the weekly candle

Stefan Doll 19:12 2025-07-28 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.