XAU/USD : Bullish or Bearish? Let's See! (READ THE CAPTION)
Updated
Analyzing the #Gold chart on the 4-hour timeframe, we observed that gold continued its upward movement as expected yesterday, reaching the $2652 level before facing a correction. Currently, gold is trading around the $2640 level.
-Bullish Scenario: If the price stabilizes above $2640, we can anticipate further growth with $2660 as the first target.
- Bearish Scenario: If it fails to hold above this level, a move toward $2623 is very likely.
This analysis will be updated as the situation develops!
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-Bullish Scenario: If the price stabilizes above $2640, we can anticipate further growth with $2660 as the first target.
- Bearish Scenario: If it fails to hold above this level, a move toward $2623 is very likely.
This analysis will be updated as the situation develops!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Note
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GOLD ? 😎Trade active
Analyzing the gold chart in the 4-hour timeframe, we see that after today’s analysis, the price rose to $2656, followed by a correction. Later, with the release of the JOLTS Job Openings data, gold experienced a further decline, eventually rebounding from the $2635 level. Currently, gold is trading around $2648, with the possibility of further upward movement.
Key Levels to Watch:
📉 Supply Zones (for potential sells):
- $2660, $2669, $2671, and $2688-$2695
📈 Demand Zones (for potential buys):
- $2634, $2617, $2606, and $2584-$2595
Note
Upon Analyzing the #gold chart on the 4-hour timeframe, we can see that the price remains within the same range without following a specific trend, but it has reacted to every level previously identified. It seems that gold is gradually gearing up for an upward movement, and we may soon witness a rise to higher levels.
The supply zones for Sell opportunities are $2660, $2669, $2671, and the range of $2688 to $2695.
Trade closed: target reached
Analyzing the #Gold chart in the 4-hour timeframe, we observe that the price has been trading in a neutral range for over 9 trading days without following a specific trend. Considering the liquidity voids and FVGs above the chart, I expect that with a price stabilization above $2640, we could soon witness a strong bullish rally in gold.
Tomorrow, we have the NFP report, which might finally determine gold’s next trend after 10 days of consolidation. I believe it’s likely that the NFP figures will come less than the forecast, potentially driving gold higher.
Due to the current neutral market conditions, there haven’t been many attractive trading opportunities to capture a significant move. Patience is key as we wait for the best setup. All other assumptions from the previous analysis remain valid.
Note
Analyzing the #Gold chart in the 4-hour timeframe, we observe that despite all the ups and downs experienced yesterday, the price is still trading around $2638, remaining within the same neutral range of the past 10 days.As you know, today we have the NFP report release. If the report comes out lower than forecast, gold could potentially rise to higher levels.The key resistance zone for gold currently stands between $2645-$2654.
Key Levels to Watch:
📉 Supply Zones (for potential sells):
- $2660, $2669, $2671, and $2688-$2695
📈 Demand Zones (for potential buys):
- $2617, $2606, and $2584-$2595
Additionally, observe the impressive price reaction to the $2617 level yesterday on the chart! Upon reaching this level, we witnessed a price surge of over 270 pips.
Make sure to monitor all the levels I’ve marked for you closely!
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