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16.06.202605:41 Forex Analysis & Reviews: Trading Signals for GOLD on June 16-18, 2026: sell below $4,350 (21 SMA - 6/8 Murray)

Rilevanza fino a 23:00 2026-06-29 UTC--4

Exchange Rates 16.06.2026 analysis

Gold is trading around $4,312, pulling back after reaching the upper band of the downtrend channel, which coincided with the 6/8 Murray line. On the H4 chart, we can see that XAU/USD reached its high on June 8 and then began a strong downtrend in the following days.

If, in the coming hours, there is a pullback toward the upper band of the downtrend channel at $4,350 and the price fails to consolidate above the 6/8 Murray line, this zone could be considered an opportunity to open short positions with targets at the 21 SMA, located around $4,209.

We can see on the H4 chart that gold left a gap at the opening of this week's trading, and it is likely to fall in the coming days and fill this gap around $4,220.

This gap would give us a clear signal for a bearish strategy, so we must be cautious and monitor whether the price remains below the 6/8 Murray level. Any technical rebound would then be seen as an opportunity to open short positions.

A consolidation above $4,368 could signal a new bullish trend for gold, and we could expect it to reach the 200 EMA around $4,471 and potentially even hit the 7/8 Murray line around $4,687.

If the price consolidates below $4,209 (21 SMA) in the coming days, the scenario could change, and we might expect a pullback toward the 5/8 Murray level around $4,062. Gold could even reach the lower band of the downtrend channel around $3,935.

Given that the Eagle indicator is showing a positive signal, we could expect a correction toward the 21 SMA to resume long positions with targets at the 6/8 Murray level and ultimately at the 200 EMA around $4,471.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2026
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