Trading Signals for GOLD (XAU/USD) for July 17-21, 2025: buy above $3,329 (200 EMA - 5/8 Murray)

Trading Signals for GOLD (XAU/USD) for July 17-21, 2025: buy above $3,329 (200 EMA - 5/8 Murray)

Gold is trading around 3,335, rebounding after reaching a low of 3,320 and a high of 3,377 yesterday during the American session. Gold experienced strong volatility following US President Donald Trump's comments after hinting at Powell's dismissal.

Gold, according to the H4 chart, is within an uptrend channel, and a technical rebound is likely to occur in the coming hours around the 200 EMA located at 3,329, or it could even reach the bottom of the uptrend channel around 3,310.

Gold is likely to continue rising in the coming days and could reach the 7/8 Murray level at 3,398, which coincides with the top of the uptrend channel.

Conversely, if there is a sharp break below the uptrend channel, we could expect a sharp drop towards the 3/8 Murray support at 3,242.

Gold is likely to continue rising over the next few days, as the eagle indicator is showing a positive signal, suggesting that any technical rebound will be viewed as an opportunity to continue buying.