XAUUSD / TRADING UNDER BULLISH PRESSURE - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
Gold prices have reached $2,630, driven by the conflict in the Middle East.
Trading above $2,600 indicates a current bullish sentiment, with a price increase of 1.20%.
If gold continues to rise from the current level, it is expected to increase by an additional 2.21%.
If gold breaks below the $2,600 support level, it suggests potential declines:
A 1.80% decrease . A more significant decline of 2.70% .
Technical Analysis:
1. Current Market Condition:
The asset is under bullish pressure , As long as the price remains above 2,600$, the bullish momentum is expected to continue.
2. Upward Condition:
- Target 1: If the price trades above 2,620$, it's expected to rise to 2,635$.
- Target 2: If the price stabilizes above 2,635$, the next target is 2,657$.
3. Downward Condition:
- If the price falls below 2,620$ , it suggests a potential decline:
- Target 1: A decline to 2,610$.
- Target 2: If it breaks below 2,610$, further decline is expected to 2,600$.
