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04.06.2026 07:18 AM
Trading Signals for XAU/USD on June 4-6, 2026: buy above $4,460 (21 SMA - 61.8% Fibonacci)

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Gold is trading around $4,460, rebounding after reaching a key support zone that coincided with the daily support level around $4,430.

Gold is trading above the 61.8% Fibonacci retracement level, suggesting that a recovery could occur in the coming days if the price consolidates above $4,460.

The outlook for gold is positive, but for this to happen, XAU/USD must overcome the strong resistance at $4,489, where the 21-day SMA is located. If XAU continues to rise in the coming hours and consolidates above $4,490, this could be seen as a positive signal to buy, with targets at the 61.8% Fibonacci extension level around $4,564.

If the upward momentum prevails, we could expect gold to reach the 200 EMA around $4,590. If it breaks above this level, it will ultimately reach the 100% Fibonacci extension around $4,654.

A drop and consolidation below the 61.8% Fibonacci level could signal a negative outlook for gold. So, we could expect it to reach the 6/8 Murray level around $4,375 in the coming days.

Our trading plan for the coming hours is to buy at the current price level of $4,460, and we could place a stop-loss below yesterday's low around $4,430.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2026
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