06.08.202606:15 Forex Analysis & Reviews: Trading Signals for GOLD on August 6-8, 2026: sell below $4,296 (200 EMA - 3/8 Murray)

Relevance up to 00:00 2026-08-20 UTC--4

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold is trading around $4,292 with a positive bias, above the 2/8 Murray level and approaching the 3/8 Murray level, showing signs of exhaustion in its upward momentum. We could expect it to reach the 200 EMA around $4,328 in the coming hours.

According to the daily chart, gold had been trading within a downtrend channel formed since June 21, and during the US trading session on August 4, it decisively broke out of this trend channel and quickly rose to reach the 3/8 Murray level; we could even expect it to continue rising in the coming hours.

We reckon gold could reach the strong resistance level at $4,328 or $4,296. These levels could present an opportunity for bears to open short positions, as technically this area could act as a strong barrier, potentially triggering a technical correction.

The indicator has now reached extreme overbought levels, so we could look for opportunities to sell gold in the event of a technical correction below the 3/8 Murray level at $4,296.

A pullback toward $4,328 would present a selling opportunity with a stop-loss above the 4/8 Murray level.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.