Short

🔥 XAU/USD - Time to SELL ? (READ THE CAPTION)

Updated

By examining the gold chart in the 4-hour time frame, we can see that the price, after growing up to $2044, could not stabilize and close above the important level of $2040, and it was pulled back below this important level! As I said before, to determine the main trend, we must witness the failure and stabilization of a series of important levels! This level used to be $2032 before and now this level is $2040! In my opinion, if the price of gold can stabilize and close below 2035$ and 2029$ today, we can witness another fall of gold! The bullish scenario is also valid based on the previous analysis with the condition of breaking $2040, whose targets will be $2047 and $2052! The downward scenario, which is the main scenario of our past few weeks TAs, is still valid, and if the price stabilizes below $2040, we can witness the fall of gold to the ranges of $2002 to $2007, $1997, and $1979 to $1986 in the medium term!

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Best Regards , Arman Shaban

Note

As you can see, about 3 hours ago, the Unemployment Claims statistics of this week were announced and the result was lower than the expected rate! When the Actual rate is announced lower than the expected statistics, it strengthens the dollar index, which caused gold to fall to the range of 2020 dollars! After the price reached the demand range of $2020, it was accompanied by buying pressure, and gold started to grow up to $2034 to fill the new FVG it made! Now the price level of $2034 has become an important resistance barrier, and if the price stabilizes below this range, we can expect more fall from gold! (This analysis is complementary to the Main analysis)

Note

As you can see, the price entered the Supply Zone that I had specified on the chart and fell to $2025! After the price reached 2025$, it was accompanied by demand again and went up to 2037$ and we can see that at this moment the volatility of gold has reached its maximum and it grew by exactly 120 pips in less than 10 days and fell by 80 pips. ! I hope this analysis was useful for you! Other assumptions of the previous analysis are still valid! The medium-term falling targets for gold are $2002 to $2007, $1997, and $1979 to $1986, respectively!

Note

✅ Gold Now Reached $2020 ! Amazing 🤩

Trade closed: target reached

Well, as you can see, gold managed to correct up to $2020, and after re-entering the demand range specified on the chart, it faced buying pressure, and for the time being, gold has been prevented from further falling! Pay attention that we are in the final hours of the market and the price will probably close in this range ($2022 to $2027) ! In the next week, we will probably have an initial positive reaction, and then, if the price penetrates below $2020, we will probably see a further drop in gold! I hope you made the most of this week's analysis and have a great weekend too ! Arman Shaban

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