Gold Forex Signal Today 28/03: Gold Near Highs (Chart)

2025-03-29 05:32:39

(MENAFN- Daily Forex) Potential signal:

I'd be a buyer of gold right here, right now.
However, you would have to have a stop loss at $3020, but you could be aiming for as high as $3125, maybe even $3300 if you are playing it for a longer-term trade.

The Thursday session has been very good to gold, as it is now threatening the all-time highs. You can see this across the board, as I have been paying attention to the gold market against other currencies also. That being said, the gold versus US dollar market is the one that most people pay attention to, but gold in general is doing very well.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money

It's worth noting that the market looks likely to break out from here, and that does make a certain amount of sense considering that there are a lot of concerns out there when it comes to global trade, tariff wars, and geopolitical situations that could disrupt commerce as well. Regardless of the reason, most traders can find at least one important one to have a bit of gold in their portfolio RemainsEURUSD Chart by TradingView

I think the most important thing about this is to keep in mind that the trend very much remains, and I think you've got a situation where short-term pullbacks will be looked at as buying opportunities. Certainly, that has been the case as of late, so I think it's probably only a matter of time before we see buyers come back in to pick up“cheap ounces of gold” along the way. With this being the case, I prefer to pay attention to short-term dips as potential buying opportunities, employing a“buy on the dips” strategy.

We also had recently formed a bullish flag, and we have not hit the“measured move” of that bullish flag, which suggests that gold could go running all the way to the $3300 level. This would not surprise me, although I don't necessarily expect to see gold do that very quickly, nor do I expect to see it very easily. However, I could be surprised and as I have no interest in trying to short the market, a surprise probably means that I've made quite a bit of money. Ultimately, this is a“long only” market.

Ready to trade our Gold price forecast ? We've made a list of the best Gold trading platforms worth trading with.

MENAFN29032025000131011023ID1109370891

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.