06.04.202618:19 Forex Analysis & Reviews: Trading Signals for GOLD on April 6-8, 2026: buy above $4,650 (21 SMA - 7/8 Murray)

Relevance up to 12:00 2026-04-20 UTC--4

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Gold is trading around $4,672 in the area of the 21-day SMA and the 7/8 Murray line within an uptrend channel formed since March 19, rebounding after finding strong support at the lower band of this channel.

Gold is expected to continue rising in the coming days and could reach the top of the downtrend channel formed since February 26, around $4,720.

If gold breaks above the downtrend channel and consolidates above $4,790 and above the 200 EMA, this could be seen as a positive signal, and we could buy with a target at the 8/8 Murray level around the psychological $5,000 mark.

If gold faces strong downward pressure below $4,790 and below the 200 EMA, this entire zone could be considered an opportunity to open short positions with a target at $4,680.

If gold breaks below the uptrend channel in the coming hours and consolidates below $4,650, the outlook could turn negative, and we could expect the price to reach the 6/8 Murray level around $4,375. Gold could even retrace to the 5/8 Murray level around $4,062, a zone corresponding to the psychological level of $4,000.

The Eagle indicator is showing negative signals, and overbought levels are also observed, so a strong technical correction in gold is likely in the coming days, and we could expect it to reach $4,375.

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