Potential Bearish Movement on Gold (XAU/USD) | Short-Term Price
Potential Bearish Movement on Gold (XAU/USD) | Short-Term Price Action
This chart displays the 3-hour timeframe of Gold (XAU/USD), where the price is trading within an ascending channel. The current structure indicates a potential breakdown from the lower boundary of the channel, signaling a possible downside move.
Key Levels:
Current Price: $2,689.755
Target 1 (TP1): $2,660
Target 2 (TP2): $2,640
Price Analysis and Potential Strategy:
1. Channel Breakdown: A breakdown below the lower boundary of the channel may confirm a bearish movement.
2. First Target: $2,660, which serves as a significant support level.
3. Second Target: $2,640, representing the next major support zone.
Important Notes:
This analysis is for educational purposes only and does not constitute financial advice.
Monitoring the market trend and volume is essential. Always practice proper risk management in trading.
If you find this analysis helpful, save it and share your thoughts in the comments!
This chart displays the 3-hour timeframe of Gold (XAU/USD), where the price is trading within an ascending channel. The current structure indicates a potential breakdown from the lower boundary of the channel, signaling a possible downside move.
Key Levels:
Current Price: $2,689.755
Target 1 (TP1): $2,660
Target 2 (TP2): $2,640
Price Analysis and Potential Strategy:
1. Channel Breakdown: A breakdown below the lower boundary of the channel may confirm a bearish movement.
2. First Target: $2,660, which serves as a significant support level.
3. Second Target: $2,640, representing the next major support zone.
Important Notes:
This analysis is for educational purposes only and does not constitute financial advice.
Monitoring the market trend and volume is essential. Always practice proper risk management in trading.
If you find this analysis helpful, save it and share your thoughts in the comments!
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