- XAUUSD/H1: Last week, the market surged strongly, then consolidated within a large range, forming a trendline channel. The price maintained its bullish structure by fluctuating above key support zones (4675 - 4681) and (4646 - 4655), and also above the dynamic resistance levels of the EMA on larger timeframes (H4 - H2 - H1), indicating that upward momentum is still dominant.
- The (4733 - 4743) zone is a significant resistance level; if the price breaks through this zone, the uptrend will continue. The (4675 - 4681) zone is near support; if the price breaks through this zone, it will continue to correct towards the lower support levels (4646 - 4655). A complete break of the (4646-4655) support level would invalidate the bullish structure; otherwise, the bullish structure will continue and rebound.
✅ VIEW
✔️ In the case that the price opens the week with a correction, retesting the near support zone (4675 - 4681) + simultaneously retesting the uptrend line and converging with the dynamic resistance zone of EMA34 (H2) + dynamic resistance of Fibonacci 0.618.
=> If the price maintains and closes above these confluence zones, the uptrend structure remains intact but lacks sufficient buying momentum to break out of the current trendline channel.
=> When the price breaks through the downtrend line + resistance zone (4733 - 4743), the uptrend structure continues and heads towards higher expected levels (477x and 483x).
✔️ If the price breaks and closes below the support zone (4675 - 4681), the market is highly likely to enter a short-term retest phase, seeking stronger support around (4646 - 4655).
=> The support zone (4646 - 4655) is a confluence of the old resistance where buyers previously broke through and continued their strong upward momentum, plus the confluence of the 0.5 Fibonacci dynamic resistance and the EMA34 dynamic resistance (H4), and the upward trendline on the H4 timeframe.
=> If the price respects this and a reversal confirmation signal appears (M5 - M15), prioritize finding buy points and heading towards higher resistance levels according to the bullish structure of (H4).
=> If the price breaks out strongly and loses the support zone (4646 - 4655), the bullish structure will be invalidated, and selling pressure may expand towards lower support levels around 460x.
- The (4733 - 4743) zone is a significant resistance level; if the price breaks through this zone, the uptrend will continue. The (4675 - 4681) zone is near support; if the price breaks through this zone, it will continue to correct towards the lower support levels (4646 - 4655). A complete break of the (4646-4655) support level would invalidate the bullish structure; otherwise, the bullish structure will continue and rebound.
✅ VIEW
✔️ In the case that the price opens the week with a correction, retesting the near support zone (4675 - 4681) + simultaneously retesting the uptrend line and converging with the dynamic resistance zone of EMA34 (H2) + dynamic resistance of Fibonacci 0.618.
=> If the price maintains and closes above these confluence zones, the uptrend structure remains intact but lacks sufficient buying momentum to break out of the current trendline channel.
=> When the price breaks through the downtrend line + resistance zone (4733 - 4743), the uptrend structure continues and heads towards higher expected levels (477x and 483x).
✔️ If the price breaks and closes below the support zone (4675 - 4681), the market is highly likely to enter a short-term retest phase, seeking stronger support around (4646 - 4655).
=> The support zone (4646 - 4655) is a confluence of the old resistance where buyers previously broke through and continued their strong upward momentum, plus the confluence of the 0.5 Fibonacci dynamic resistance and the EMA34 dynamic resistance (H4), and the upward trendline on the H4 timeframe.
=> If the price respects this and a reversal confirmation signal appears (M5 - M15), prioritize finding buy points and heading towards higher resistance levels according to the bullish structure of (H4).
=> If the price breaks out strongly and loses the support zone (4646 - 4655), the bullish structure will be invalidated, and selling pressure may expand towards lower support levels around 460x.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.