XAU/USD : LONG, SHORT, LONG! (READ THE CAPTION)
Updated
Analyzing the #Gold chart in the 4-hour timeframe, we observe that the price failed to maintain its bullish momentum yesterday. With news favoring the dollar index, gold experienced further declines, reaching $2664 so far. Now, we can expect an upward correction, likely followed by another drop before gold resumes its rally towards levels above $2700. This analysis will be updated further, so stay tuned and follow step by step!
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Best Regards , Arman Shaban
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Analyzing the Gold chart in the 4-hour timeframe, we can observe that after a correction down to $2643, the price has resumed its upward movement and has so far climbed to $2660. It remains to be seen whether the key support zone between $2635 and $2648 will prevent further downside corrections.
If the price stabilizes above this critical level, we can expect gold to rise toward $2675 and then $2680. This analysis will be updated step by step!
Trade closed manually
Analyzing the #Gold chart in the 4-hour timeframe, the price is still in the demand zone of $2635 to $2648 and hasn’t managed to break above $2666 yet.
There’s a chance we’ll see further declines in gold. The key level for the next move is $2641. If the price stabilizes below $2641, more downside is likely, but if it stabilizes above $2641 in the next two candles, we could see more upward movement.
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