From the 4-hour technical chart, XAU/USD has confirmed a breakout from the key consolidation zone of 4460-4470 and has successfully consolidated above the psychological level of 4500 after the breakout. The previous breakout area has now become a key downside support level for the short-term price action.
For intraday trading: the immediate support zone is at 4490-4500; our bullish view's failed support level is at 4465-4470. On the upside, the nearest resistance level is at 4550-4555, while the key weekly resistance level that triggered the previous pullback is at 4570-4580.
Given that today is Friday and the weekly close is approaching, we recommend a conservative strategy and avoid rash, aggressive entries. Our core strategy remains to buy on dips. We suggest traders establish long positions when the price pulls back to 4490-4500, and gradually increase long positions using a pyramiding approach if the price falls to the strong support zone of 4465-4470.
For intraday trading: the immediate support zone is at 4490-4500; our bullish view's failed support level is at 4465-4470. On the upside, the nearest resistance level is at 4550-4555, while the key weekly resistance level that triggered the previous pullback is at 4570-4580.
Given that today is Friday and the weekly close is approaching, we recommend a conservative strategy and avoid rash, aggressive entries. Our core strategy remains to buy on dips. We suggest traders establish long positions when the price pulls back to 4490-4500, and gradually increase long positions using a pyramiding approach if the price falls to the strong support zone of 4465-4470.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.