Long

XAU/USD : Gold will pump to $2700 ? (READ THE CAPTION)

Updated

Analyzing the #Gold chart in the 4-hour timeframe, we observe that the price opened with a positive gap today, showing a rise from $2633 to $2676. Notably, gold finally made its next move upon reaching this level, and we have seen a correction from $2676 to $2666 so far. The key question now is where the price will close in the next 6 hours.

We might see an initial rejection, but due to recent developments in the Middle East and increased risk, further growth in gold prices is anticipated. Keep a close watch on gold's reaction to the levels of $2689 to $2695. This analysis will be updated moment by moment as the price moves!

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Trade active

Analyzing the #Gold chart in the 4-hour timeframe, we observe that after a rejection to $2656, the price was supported by demand (as expected) and is currently trading around $2674. If the price stabilizes above $2670, we could potentially see gold rise even to $2700! Keep an eye on gold’s reaction to the $2689-$2695 zone!

Note

+80 Pips so far ! Cheers |

Note

Update on #Gold Analysis:

As anticipated, gold continued its upward momentum and successfully filled the liquidity gap between $2688 and $2695. As expected, after reaching $2695, the price faced a correction and is currently trading around $2691.

I hope you’ve made the most of this exciting analysis today and benefited from the market moves! Let’s stay focused for the next opportunities!

Arman Shaban

Trade closed: target reached

Analyzing the #Gold chart in the 4-hour timeframe, we can observe that, as expected, the price experienced an impressive rally yesterday, reaching $2704 before undergoing a significant correction. The price reacted strongly to the supply zone we had identified on the chart, ultimately retracing to $2676.

After reaching the critical demand zone at $2676, the price rebounded and is currently trading around $2695. It will be important to monitor how the price responds to this level!

(This analysis will be updated step-by-step for you.) I hope you've made the most of the analyses this week!

Note

Analyzing the #Gold chart in the 4-hour timeframe, we can see that the price has finally stabilized above $2700 after reaching $2727 and collecting liquidity above the $2721 level. Currently, it is trading around the $2710 zone.

Considering the significant news scheduled for today, I anticipate heavy volatility for gold. After a minor correction, I expect gold to continue its upward movement.

Keep an eye on the price reaction to the $2727.5 to $2731 range!

ArmanShabanTrading

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