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Daily Technical Analysis: Gold Jumps to $3,250 After Reaching the Lowest Price in a Month

May 16, 2025, 07:48

Gold showed a downtrend movement for the last 10 days. However, a corrective bounce followed yesterday. A bullish crossover took place yesterday but is starting to flatten, hinting at slowing momentum during Friday’s trading.

Price is currently testing short term moving averages MA(5), and MA(10) with a dynamic support of moving average MA(30) around $3,200 levels.

RSI hit a high near 65 in early trading today and is now turning downwards, suggesting a possible loss of bullish momentum. If RSI breaks below 50, it could signal more downside movement.

The focus is now on the psychological level of $3,250. If price remains under this level, more declines are expected on the precious metal.

Gold (XAUUSD) 1H Chart

Gold (XAUUSD) 1H Chart
Resistance$3,244$3,259$3,282
Support$3,206$3,190$3,153

The overall trend on the EURUSD pair has been in a mild consolidation for the past few days. Price is trying to stabilize above 1.1200.

A bullish crossover occurred as the moving average MA(5) and MA(10) moved above the MA(30) around initiating a short-term uptrend However, all three moving averages are currently close and mostly moving flat, indicating a consolidation phase.

Candlesticks show indecisiveness. RSI is hovering around 55, suggesting very moderate bullish momentum. No clear overbought/oversold signals on the indicator. Prices could continue sideways unless RSI crosses 70 or drops below 40.

Watch for a breakout above 1.1260 to confirm further bullish movement. A drop below the recent consolidation could signal another retest of the 1.1150–1.1100 zone.

EURUSD 1H Chart

EURUSD 1H Chart
Resistance1.12291.12641.1293
Support1.11701.11301.1096

Bitcocin shows a choppy trend overall, with recent bullish momentum pushing price from $101,800 to above $104,000. A strong bullish crossover occurred yesterday with moving averages MA(5) and MA(10) breaking above MA(30), which brought bitcoin closer to the $105,000 levels. Currently, short-term and mid-term moving averages are stacked bullishly supporting continuation upwards.

RSI peaked above 60 and is currently retracing slightly, still holding above 50—suggesting continued buying interest with no bearish divergence observed.:

As long as prices hold above the $103,000 level and all three moving averages, buyers remain in control. A push above $105,800 would target $107,000 next.

Bitcoin (BTCUSD) 1H Chart

Bitcoin (BTCUSD) 1H Chart
Resistance$105,014$105,816$106,72
Support$103,484$102,750$101,94

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