XAUUSD Analysis
Monthly:
Clear fakeout from all-time high (ATH) to below 1975.
Monthly candle likely to close with heavy bearish momentum.
Weekly:
Retesting previous resistance range of 1933 to 1938.
If new weekly candle breaks previous weekly low, price may go down and break 1930, indicating a clear direction towards 1900.
Daily:
Support level formed after a significant drop.
Watching the last few daily candles of the month, but overall bearish sentiment.
Closing below 1950 reinforces bearish direction.
4H (4-hour candle):
Clear downtrend structure.
Possible retest of 1955 before downward movement.
Consider buying only if a 30-minute candle closes above 1955.
Clear fakeout from all-time high (ATH) to below 1975.
Monthly candle likely to close with heavy bearish momentum.
Weekly:
Retesting previous resistance range of 1933 to 1938.
If new weekly candle breaks previous weekly low, price may go down and break 1930, indicating a clear direction towards 1900.
Daily:
Support level formed after a significant drop.
Watching the last few daily candles of the month, but overall bearish sentiment.
Closing below 1950 reinforces bearish direction.
4H (4-hour candle):
Clear downtrend structure.
Possible retest of 1955 before downward movement.
Consider buying only if a 30-minute candle closes above 1955.
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