XAUUSD / UNDER TENSTION OF THE MIDDLE EAST - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
After reaching an all-time high (ATH) of $2,686, the price began to decline by 1.60%. This dip is likely due to geopolitical tensions in the Middle East. However, given the instability in the region, the price is expected to rise again, potentially reaching a supply zone between $2,700 and $2,720.
As long as the price remains stable above the $2,637 and $2,614 levels, my target is to see it returning to $2,686. However, a break below $2,614 triggered a further decline, bringing the price down to $2,586 and potentially testing the next support at $2,559.
My Target : 2,586$.
Supply Zone : 2,700$ , 2,720$.
Demand Zone : 2,586$ , 2,559$.