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XAU / USD gold forecast for today on January 4

The trading session for gold XAU / USD opened with an increase in quotations, which allowed the gold rate to gain a foothold above the border of the descending channel, which has been counting on daily gold charts since the summer of 2020.

At the time of preparing this forecast for gold, quotes are at around 1913. The support level will be around 1904.

Now, gold will open its way up to the 1965 resistance level.

XAU / USD gold forecast for today on January 4

Gold quotes are above the Ichimoku cloud, which indicates that the trend for gold is upward. The signal lines also confirm the uptrend - the blue fast signal line has broken through the red slow one from the bottom up.

We expect a short-term decline in gold quotes, to around 1904. This will be followed by a bullish (upward) movement in gold GOLD, followed by an increase in quotes to around 1965.

Thus, the forecast for the XAU / USD gold rate for today, January 4, assumes an increase in the price of gold, with the goal of an uptrend in 1965.


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