XAUUSD Forecast Dec 2024Hi all Traders!
In the XAUUSD H4 chart, it is observed that after breaking the support zone, the price is currently in a correction phase and pulling back towards low level fibonacci or continue to above.
Considering the price structure and hit fibo 50%, it is expected that after reaching the identified resistance area, the price will resume its downward movement and target lower levels or after rejection in fibo 61.8% will be uptrend and then continue to downtrend.
Key Points:
Forecast 1 :
Sell Entry 1 : Consider entering a Short Limit position around Fibs 50% with price of 2663.27, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: 2560.75
Sell Entry 2 : Consider entering a Short Limit position around Fibs -0.382% with price of 2765.78, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: 2516.35
Buy Entry : Consider entering a Long Limit position around Fibs 1.382% with price of 2560.75, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: 2765.78
Forecast 2 :
Sell Entry 1 : Consider entering a Short Limit position around Fibs -0.382% with price of 2765.78, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: 2516.35
Buy Entry : Consider entering a Long Limit position around Fibs 61.8% with price of 2649.55, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: 2765.78
Forecast 3 :
Sell Entry : Consider entering a Short Limit position around Fibs 50% with price of 2663.27, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: 2516.35
like and share your thoughts in the comments thank you
