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02.03.202617:32 Forex Analysis & Reviews: Trading Signals for GOLD on March 2-4, 2026: sell below $5,399 (21 SMA - +1/8 Murray)

Relevancia 11:00 2026-03-16 UTC--4

Exchange Rates 02.03.2026 analysis

Gold is trading around $5,393, up +1/8 Murray and within the uptrend channel formed since February 17 with a bullish bias.

On the H4 chart, we can see that gold attempted to break through the strong resistance of the upper band of the uptrend channel around $5,420 during the European session.

According to the H4 chart, gold is showing signs of exhaustion in its bullish momentum. The formation of Japanese candlesticks on the 4-hour chart suggests that a technical reversal could follow.

A decline could happen in the coming hours towards the +1/8 Murray located at $5,312. Gold could even reach the lower band of the uptrend channel, which, in turn, coincides with the 21 SMA located at $5,243.

Gold left a gap around $5,275, which means that if it falls below $5,300, we could expect it to cover this gap. Therefore, the instrument could resume its upward cycle.

The Eagle indicator has reached extremely overbought levels, so a technical correction towards $5,243 is expected in the coming days.

A sharp break below the uptrend channel and a consolidation below $5,240 could be seen as a clear signal to sell gold with targets at the psychological level of $5,000 and even at the 200 EMA around $4,960.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2026
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