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Today Technical Analysis : Gold Fails to Hold Above $3,400 and Drops 1.3%

July 24, 2025, 07:22

Gold Technical Analysis

Gold remains in a tight consolidation on the daily chart. However, on the hourly chart, price formed a double top near $3,438, and then price reversed sharply and is now trading at $3,375

The trend has clearly shifted bearish on the short-term 1H chart with moving averages MA(5) and MA(10) both crossing below MA(30), which indicates a bearish crossover.

All moving averages are sloping downward, confirming momentum weakness.

MACD line is below signal line, suggesting strong downside momentum.

Gold remains in a bearish bias on the hourly chart. A break below $3,350 opens the door to test $3,309 again.

Gold (XAUUSD) 1H Chart

Gold (XAUUSD) 1H Chart 24-7-2025
Resistance$3,393$3,405$3,420
Support$3,362$3,345$3,331

EURUSD Technical Analysis

EURUSD is still in a bullish trend, with moving averages MA(5), MA(10), MA(30) in a bullish alignment. However, price is flattening near the top, suggesting momentum is fading.

MACD is still above the signal line, but converging, and histogram is declining, showing early signs of bullish momentum weakening.

The overall outlook for EURUSD is still bullish, but watch for a pullback or potential range formation. A break below 1.1700 would signal trend exhaustion.

EURUSD 1H Chart

EURUSD 1H Chart 24-7-2025
Resistance1.17801.18211.1859
Support1.17541.17291.1700

S&P500 Technical Analysis

As all three major U.S. Indices rise, the S&P500 shows a strong uptrend from the 6203 low to 6373, now experiencing minor pullback. Price remains near an all-time high region with limited resistance.

Moving averages MA(5) and MA(10) are above MA(30). All MAs are sloping upward, indicating sustained bullish strength.

MACD line is starting to curve down toward the signal line, showing possible loss of bullish momentum.

The uptrend is still intact, but short-term overbought conditions suggest risk of a pullback to the 6,320–6,280 zone before potential continuation.

S&P500 1H Chart

Resistance6,3716,4006,425
Support6,3416,3176,370
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