#XAUUSD #H4 Higher Time Frame Analysis#XAUUSD #H4 Analysis 📊✨
In our previous analysis, we identified the 2578-80 zone as a crucial resistance area, with a #H4 candle close above this level signaling further recovery. However, gold has faced strong rejection from this area three times, indicating bearish pressure. 🔻
🔹 Bearish Outlook: A fully bearish #H4 candle close below 2554 will confirm further downside potential. For now, we’ll wait for confirmation to plan our sell trades. It’s Monday tomorrow, so we recommend trading cautiously and focusing on the US session for any clear buy or sell entries. 🕒
Key Levels to Watch:
2531-2523: A historically strong resistance-turned-support zone. This area has been a previous lifetime high, where price faced multiple rejections. If gold tests this level, we could see some bounce or rejection. However, if it fails to hold,and #H4 closes fully bearish below this zone than expect a significant correction towards 2465-2450. 📉
🔹 Bullish Outlook: On the upside, if price recovers and we get a bullish #H4 candle close above the 2578-80 zone, we’ll plan to buy for a potential gain of 150-300 pips. 📈