XAU/USD Analysis:
Gold initially attempted to break above the current 1-hour supply zone but failed to sustain momentum, leading to a retracement back into the 4-hour demand area. The weekly open was relatively strong, with price tapping into the previous daily candle’s body low and showing early signs of rejection — a signal that could be more meaningful once volume increases during the London session.
If price action can decisively close above the 2340 level with supporting volume, we could see a push toward the 2344 region either before the weekly close or shortly after the market reopens next week.
Gold initially attempted to break above the current 1-hour supply zone but failed to sustain momentum, leading to a retracement back into the 4-hour demand area. The weekly open was relatively strong, with price tapping into the previous daily candle’s body low and showing early signs of rejection — a signal that could be more meaningful once volume increases during the London session.
If price action can decisively close above the 2340 level with supporting volume, we could see a push toward the 2344 region either before the weekly close or shortly after the market reopens next week.
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ao win$
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.