The XAUUSD H4 chart is showing a clear recovery after a sharp drop to the bottom around 4,050. The price is currently trading around 4,321.965, still above the Ichimoku support zone of 4,253.713 – 4,270.755, indicating that buying pressure hasn't been completely broken.
The key point on the chart is the 4,229.000 level. This is a nearby support area and also lies above the uptrend line supporting the current rebound. If the price corrects to this level but doesn't break down, XAUUSD could create a higher bottom and continue its recovery.
The area to break to confirm stronger upward momentum is 4,359.633. Once the price breaks above this area, buyers could extend their gains to the major resistance zone above around 4,518,000.
Reference strategy:
BUY: 4,229,000 – 4,270,000
SL: below 4,200,000
TP: 4,518,000
The key point on the chart is the 4,229.000 level. This is a nearby support area and also lies above the uptrend line supporting the current rebound. If the price corrects to this level but doesn't break down, XAUUSD could create a higher bottom and continue its recovery.
The area to break to confirm stronger upward momentum is 4,359.633. Once the price breaks above this area, buyers could extend their gains to the major resistance zone above around 4,518,000.
Reference strategy:
BUY: 4,229,000 – 4,270,000
SL: below 4,200,000
TP: 4,518,000
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LEVEL UP YOUR TRADING
👉t.me/+NBWGUpNcAxsyYjRl
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
👉t.me/+NBWGUpNcAxsyYjRl
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.