XAU/USD : Reasons for Falling! (READ THE CAPTION)
Updated
In the 4-hour timeframe, we can see that after reaching $2697 and hitting all targets last Friday, gold eventually closed around the $2690 zone. Today, gold showed a bearish sentiment, dropping by over 300 pips and correcting to as low as $2664.
Currently, gold is trading around $2670, and if it stabilizes below this level within the next 4 hours, further declines can be expected. Potential bearish targets are $2663, $2658.8, and $2652.5, respectively.
This analysis will be updated soon, so stay tuned for a trading setup in the lower timeframes!
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
Currently, gold is trading around $2670, and if it stabilizes below this level within the next 4 hours, further declines can be expected. Potential bearish targets are $2663, $2658.8, and $2652.5, respectively.
This analysis will be updated soon, so stay tuned for a trading setup in the lower timeframes!
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
Trade closed: target reached
By analyzing the gold chart on the 4-hour timeframe, we observe that yesterday, the price hit two targets at $2663 and $2658.8, and even corrected down to $2656. Following this, gold experienced relative demand and climbed to $2675. Currently, gold is trading around $2670.
Given that a gap formed between $2663 and $2664, I expect it to be filled soon. Additionally, a liquidity void has appeared between $2675 and $2683, which I anticipate will also be filled before any significant bearish move. This analysis will be updated as the price evolves.
Note
By analyzing the #gold chart on the 4-hour timeframe, we see that, as anticipated, the price has fulfilled all expectations from yesterday's analysis. First, it dropped to $2660, filling the price gap between $2663 and $2664. Then, after accumulating liquidity, it rallied to fill the significant liquidity void between $2675 and $2683. Currently, it is trading around $2685.
Notably, the $2683 to $2691 range is a key supply zone, which the price has already reacted to. However, with the CPI data on the horizon, we could see increased price volatility in this area as more liquidity is gathered before any potential correction. A move above $2700 is not out of the question in the near future. This analysis will be updated further—stay tuned and don’t forget to show your support! 💪✨
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