XAUUSD: Breaking below 4,000; sellers paving the way to 3,822
XAUUSD is trading around 3,968, positioned entirely below the Ichimoku cloud and remaining locked in a clear bearish structure. Notably, the price has not only lost the psychological 4,000 level but continues to be pressured below the downtrend line extending from previous highs.
The 4,020 area now serves as the immediate resistance. Should gold stage a pullback to this zone but fail to break through, it could mark a point where sellers regain control. Given the current structure, the next downside target on the chart is 3,822, situated within a lower support zone.
Entry Focus: Prioritize SELL positions if the price retraces to the 4,000–4,020 range and a rejection candle appears.
Target: 3,822
Invalidation: The bearish scenario weakens if the H4 timeframe closes decisively above 4,035.
The 4,020 area now serves as the immediate resistance. Should gold stage a pullback to this zone but fail to break through, it could mark a point where sellers regain control. Given the current structure, the next downside target on the chart is 3,822, situated within a lower support zone.
Entry Focus: Prioritize SELL positions if the price retraces to the 4,000–4,020 range and a rejection candle appears.
Target: 3,822
Invalidation: The bearish scenario weakens if the H4 timeframe closes decisively above 4,035.
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LEVEL UP YOUR TRADING
👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.