Daily Technical Analysis: Gold Falls Below $3,400 After Three Days Of Consecutive Gains

Gold 4H chart shows short-term pullback after reaching a recent high at $3,450. Price recently dropped below the moving averages MA(5) and MA(10). While mid-term moving average MA(30) MA acts as dynamic support.

Bearish crossover occurred on the MACD, confirming a downward correction.

As long as the price holds above the 30-period MA, the medium-term uptrend remains intact. Watch for support around 3360–3380 and potential rebound signs like bullish reversal candelsticks.

Gold (XAUUSD) 4H Chart

Resistance$3,403$3,412$3,435
Support$3,373$3,357$3,338

Oil has pulled back from a strong resistance at $77.35 on West Texas Intemediate. The current trend is still bullish, but if price falls below $70.50–$71.00 levels, it could trigger further correction. Price is still above the 30 MA, indicating bullish medium-term trend.

MACD shows a bearish crossover. Momentum is cooling off after a strong rally. Watch for either a bounce or breakdown below $70.

West Texas Intermediate 4H Chart

Resistance$70.85$71.64$72.63
Support$69.44$68.46$67.82

EUR/USD is in a consolidation phase after a spike to 1.1620. The price is struggling to break above or below the current range (1.1530–1.1580). Momentum is neutral to slightly bearish.

MACD shows converging lines after bearish momentum. The indicator suggests a possible reversal or consolidation.

EURUSD 1H Chart

Resistance1.15731.15861.1615
Support1.15521.15361.1489
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