XAUUSD / RANGE MOVEMENT BETWEEN 2,678$ AND 2,604$ / 4H
XAUUSD / 4H TIME FRAME
HELLO TRADERS
Yesterday, the market saw a price decline with a profit of +355 pips. This suggests a profitable movement for traders who correctly anticipated the downward trend.
• Prices are currently attempting to reach $2,661, which is identified as a key resistance level. If prices stabilize below this level, further declines are expected.
Expected Support Levels:
• If the downward trend continues, potential support levels are highlighted at:
• $2,630
• $2,604
• $2,587
These levels indicate areas where buyers might re-enter the market, slowing or reversing the decline If the price breaks above $2,661, an increase is expected, with a target of $2,678.
The critical range is between $2,604 and $2,678 , A breakout on either side of this range will “confirm direction,” meaning it will provide clearer signal of the next major price trend.
The market is currently under downward pressure, indicating a bearish bias in the analysis.
HELLO TRADERS
Yesterday, the market saw a price decline with a profit of +355 pips. This suggests a profitable movement for traders who correctly anticipated the downward trend.
• Prices are currently attempting to reach $2,661, which is identified as a key resistance level. If prices stabilize below this level, further declines are expected.
Expected Support Levels:
• If the downward trend continues, potential support levels are highlighted at:
• $2,630
• $2,604
• $2,587
These levels indicate areas where buyers might re-enter the market, slowing or reversing the decline If the price breaks above $2,661, an increase is expected, with a target of $2,678.
The critical range is between $2,604 and $2,678 , A breakout on either side of this range will “confirm direction,” meaning it will provide clearer signal of the next major price trend.
The market is currently under downward pressure, indicating a bearish bias in the analysis.
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