💡 XAUUSD: Analysis January 19
Updated
Gold D1 increased yesterday, but created a price bar within the previous price bar to form an inside bar model, showing a state of cumulative price compression. The support confluence area around the round number 2,000 continues to be the area that pushes the price upward. D1 gold is in a sideways state.
There is an uptrend in gold price in H1, but this is only considered a correction, not a reversal because it has not broken the most recent price peak. Therefore, the main trend of H1 gold today is to wait to sell at the above resistance. If the price breaks above this resistance, it will reverse to increase, then you can wait to buy again.
There is an uptrend in gold price in H1, but this is only considered a correction, not a reversal because it has not broken the most recent price peak. Therefore, the main trend of H1 gold today is to wait to sell at the above resistance. If the price breaks above this resistance, it will reverse to increase, then you can wait to buy again.
Note
Developments in the Middle East boosted safe-haven demand for gold on Thursday (US time), helping gold escape its previous five-week low under pressure from changes in interest expectations. productivity after economic report was stronger than expected.Note
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