21.08.202607:31 Forex Analysis & Reviews: Trading Signals for GOLD on August 21-24, 2026: sell below $4,531 (21 SMA - 6/8 Murray)

Relevance up to 01:00 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 $4,538, near its monthly high and above the 6/8 Murray level, and is likely to continue rising in the coming days, potentially reaching the 7/8 Murray level around $4,609.

Gold found strong support around the 5/8 Murray level, which provided strong momentum for a gain of approximately $90; therefore, we believe it could have the necessary strength to continue rising if the price remains above the 6/8 Murray level.

Conversely, if gold falls below the 6/8 Murray level, we could expect the downtrend to resume, and this could be seen as an opportunity to open short positions in anticipation of a drop to the 5/8 Murray level at $4,453. If bearish momentum prevails, the price could continue to decline until it reaches the lower band of the uptrend channel around $4,430.

The Eagle indicator is showing a negative signal; however, gold is currently in a positive zone, so the 6/8 Murray level favors a continuation of the uptrend. We expect this scenario to continue in the coming days, and we could see gold reach $4,600 or even the upper band of the uptrend channel around $4,650.

Our trading plan for the next few hours will be to monitor whether the price falls below $4,531. If that happens, it could be considered an opportunity to sell, with targets at $4,500, $4,000, $4,880, and $4,453.

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.