FX.co ★ Trading Signals for GOLD (XAU/USD) for September 3-5, 2024: buy above $2,470 (7/8 Murray - rebound)

In turn, gold has another key and dynamic support located at about 2,462 which coincides with 7/8 of Murray and the 200 EMA. This is a key area that could be used as an opportunity to buy since technically, the bottom of the bearish trend channel, forming since August 15, is also located around this area.

We will look for opportunities to buy in the next few hours. Yesterday in our analysis, our trading plan was to sell below 2,409. Now, we could look for opportunities to buy above 2,460.