Green day on Thursday for XAU/USD currency pair after gaining 0.87%

The XAU/USD currency pair price gained 0.87% on the last trading day (Thursday, 24th Apr 2025), rising from $3,338.86 to $3,368.03. During the last trading day the currency pair fluctuated 0.639% from a day low at $3,349.20 to a day high of $3,370.60. The price has risen in 9 of the last 10 days and is up by 8.99% over the past 2 weeks.

The currency pair lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $3,404.45 will firstly indicate a stronger rate of rising.Given the current short-term trend, the currency pair is expected to rise 16.30% during the next 3 months and, with a 90% probability hold a price between $3,558.70 and $3,959.24 at the end of this 3-month period.

The XAU/USD currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the currency pair. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3,323.85 and $3,099.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 22, 2025, and so far it has risen 1.20%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

On the downside, the currency pair finds support just below today's level from accumulated volume at $3,110.46 and $3,090.31.There is a natural risk involved when a currency pair is testing a support level, since if this is broken, the currency pair then may fall to the next support level. In this case, XAU/USD finds support just below today's level at $3,110.46. If this is broken, then the next support from accumulated volume will be at $3,090.31 and $3,037.41.

In general the currency pair tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved $21.40 between high and low, or 0.639%. For the last week the currency pair has had daily average volatility of 2.46%

XAU/USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.