Short

🔥 XAU/USD - A Big Fall Ahead of GOLD ? (READ THE CAPTION)

Updated

By checking the gold chart in the 4-hour time frame, we can see that the price is trading in the range of $2035 and yesterday, as I expected, the price could grow to the range of $2043 and after that it will fall again! The important demand range in the 4-hour time frame is $2031, which can have an initial reaction to this level, and if the price can stabilize below $2040, we may see a heavy fall in gold, And its possible targets will be $2031, $2024, $2020, $2005 and $1986 respectively! This analysis will be updated

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Note

$2031 Reached ! Cheers

Note

$2024 Reached to as the second target ! I hope you enjoyed it ! Will be updated soon ! ✅

Note

3rd Target Reached Last Night which was $2020 ! +150 Pips Profit ! ✅

But The New Update is : By checking the gold chart, we see that the price started to fall after our analysis and was able to correct up to our third target, i.e. $2020 (Cheers to that) , and after that it came back with demand, because the price of $2020 had both technical support and Psychological support, that's why after that the price was able to grow again up to $2035 and then stopped! Now the price is trading in the range of $2032 and today we will have CPI statistics that can determine the next trend for gold! The bearish scenario will continue only if the price does not penetrate or stabilize above $2040, in which case we can expect more fall of gold! If the price penetrates above $2040 and the 4-hour candle closes above this level, we will probably see the growth of gold up to $2060! I will expect heavy fluctuations from gold today!

Trade closed: target reached

By re-examining the gold chart in the 4-hour time frame, we see that the price, as we expected, faced selling pressure by entering the supply range of $2040 to $2044, and the growth of the dollar index also added to this pressure, and gold was able to fall to $2025, which was a demand level and had a reaction to it! The previous analysis is still valid and as long as the price is traded below $2040, we can expect a further drop of the price! Of course, note that the price must penetrate below 2020$ and 2016$ as soon as possible, otherwise the delay in the price drop can cause the bulls to come in again and push the price above 2044$ for the fourth time! So we will follow the chart and I will update it for you step by step!

ArmanShabanTrading

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