20.04.202616:06 Forex Analysis & Reviews: Trading Signals for GOLD on April 20-23, 2026: buy above $4,775 (21 SMA - 200 EMA)

Relevance up to 10:00 UTC--4

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Gold is trading around $4,809, awaiting a fill of the gap it left at $4,842. Gold is undoubtedly expected to fill this gap in the coming hours, so we will look for opportunities to buy above the 200 EMA around $4,785, with targets at the gap's closure.

On the H4 chart, we can see that gold has widened its trend channel and is expected to continue rising in the coming days, potentially reaching last week's high around $4,885; we could even expect the instrument to reach the psychological level of $5,000.

If gold remains above the 200 EMA or consolidates above $4,760 near the lower band of the uptrend channel in the coming hours, this could be considered a signal to open long positions.

Conversely, a drop and consolidation below $4,750 or a close on the H4 chart below this week's low could change the outlook for gold, and we could expect it to reach the 7/8 Murray level around $4,687, and ultimately a sharp decline toward the 6/8 Murray level at $4,375.

The Eagle indicator is showing a positive signal, so we will look for opportunities to buy gold while the price settles above the 200 EMA or, in an extreme case, if it rebounds within the uptrend channel.

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