XAUUSD Daily Analysis: Navigating Bullish Structures Amidst Bear
Updated
In this blog post, we'll delve into the daily chart of XAUUSD, examining its current state and anticipating potential future movements.
Bullish Structure Formation:
At a daily time frame, XAUUSD is displaying a bullish structure, marked by distinct highs and lows. This structure serves as a valuable guide for traders seeking to understand the market sentiment and make informed decisions.
Structure High and Low:
The recent bullish phase saw a structure high at 2148.990 and a corresponding structure low at 1810.465. These levels act as significant markers, providing insights into potential support and resistance areas.
Bearish Leg Development:
Despite the bullish structure, the current scenario reveals the formation of a bearish leg. Traders should take note of the expectation for a new low, anticipated to dip below 2024.500.
Current Price Range:
As of the latest observation, XAUUSD is trading within the range of 2024.5 to 2079, with the current price standing at 2031.13. This range becomes crucial for assessing market dynamics and potential breakout points.
Bearish Leg Continuation vs. Reversal:
The bearish leg is expected to persist unless the price breaks upside the current range. Traders should closely monitor price movements within this range to gauge the strength of the current bearish momentum.
Potential Reversal Points:
Despite the prevailing bearish pressure, there are notable PD arrays below the current price. These levels could serve as potential reversal zones
Bullish Structure Formation:
At a daily time frame, XAUUSD is displaying a bullish structure, marked by distinct highs and lows. This structure serves as a valuable guide for traders seeking to understand the market sentiment and make informed decisions.
Structure High and Low:
The recent bullish phase saw a structure high at 2148.990 and a corresponding structure low at 1810.465. These levels act as significant markers, providing insights into potential support and resistance areas.
Bearish Leg Development:
Despite the bullish structure, the current scenario reveals the formation of a bearish leg. Traders should take note of the expectation for a new low, anticipated to dip below 2024.500.
Current Price Range:
As of the latest observation, XAUUSD is trading within the range of 2024.5 to 2079, with the current price standing at 2031.13. This range becomes crucial for assessing market dynamics and potential breakout points.
Bearish Leg Continuation vs. Reversal:
The bearish leg is expected to persist unless the price breaks upside the current range. Traders should closely monitor price movements within this range to gauge the strength of the current bearish momentum.
Potential Reversal Points:
Despite the prevailing bearish pressure, there are notable PD arrays below the current price. These levels could serve as potential reversal zones
Note
As expected price gave good reaction to the bullish POI yesterday. We can expect price to go higherNote
Price goes higher and took buy side liquidity. Please follow related ideas.
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