- XAUUSD/H1: The market is maintaining a bearish structure as the price continuously creates lower highs and faces strong selling pressure after breaking through key resistance zones and closing the weekly candle below these zones, indicating that selling pressure remains strong. On the H4, H2, and H1 timeframes, the EMA34 has crossed below the EMA89, suggesting a reversal of the downtrend and that the decline is not yet over.
- After a sharp decline, the price retested the support zone (4510 - 4520) and is entering a sideways consolidation phase near this support. This is a crucial short-term support zone that will determine whether a technical rebound occurs or if the decline continues further.
- The (4586 - 4610) zone is a key resistance area and also a confluence of the Fibonacci (0.5 - 0.618) and EMA34 (H1), so the likelihood of a selling reaction here is relatively high if the price rebounds to retest this zone. If the retest breaks down, wait for a larger timeframe candle to confirm whether buying pressure has returned to avoid a false break.
✅ VIEW
1. SELL SCENARIO:
- If the price retests around the resistance zone (4586 - 4610) and fails to break back, prioritize finding a sell point in line with the current downtrend.
=> This is the central Fibonacci confluence zone (0.5 - 0.618) - EMA34 (H1) and also the previously broken resistance zone.
=> If the price breaks and closes below the support zone (4610 - 4620), the selling momentum will extend to lower resistance zones (446x and further down to 440x).
2. BUY SCENARIO:
- Only prioritize short-term buying when the price holds the near support zone (4510 - 4520) and breaks the short-term downtrend line (H1).
=> If the price breaks and closes above the resistance zone (4686 - 4610) and the candle closes above the EMA34 (H1), the bearish structure will weaken, opening up the possibility of a short-term recovery towards (464x and further to 470x).
⚠️Currently, the main trend is leaning towards selling, and the selling momentum is likely to expand strongly. During this period of high market volatility with a series of negative news affecting gold, prioritize trading in the direction of the trend and wait for a clear breakout candle to confirm the trend before setting up a trade to avoid a false breakout.
- After a sharp decline, the price retested the support zone (4510 - 4520) and is entering a sideways consolidation phase near this support. This is a crucial short-term support zone that will determine whether a technical rebound occurs or if the decline continues further.
- The (4586 - 4610) zone is a key resistance area and also a confluence of the Fibonacci (0.5 - 0.618) and EMA34 (H1), so the likelihood of a selling reaction here is relatively high if the price rebounds to retest this zone. If the retest breaks down, wait for a larger timeframe candle to confirm whether buying pressure has returned to avoid a false break.
✅ VIEW
1. SELL SCENARIO:
- If the price retests around the resistance zone (4586 - 4610) and fails to break back, prioritize finding a sell point in line with the current downtrend.
=> This is the central Fibonacci confluence zone (0.5 - 0.618) - EMA34 (H1) and also the previously broken resistance zone.
=> If the price breaks and closes below the support zone (4610 - 4620), the selling momentum will extend to lower resistance zones (446x and further down to 440x).
2. BUY SCENARIO:
- Only prioritize short-term buying when the price holds the near support zone (4510 - 4520) and breaks the short-term downtrend line (H1).
=> If the price breaks and closes above the resistance zone (4686 - 4610) and the candle closes above the EMA34 (H1), the bearish structure will weaken, opening up the possibility of a short-term recovery towards (464x and further to 470x).
⚠️Currently, the main trend is leaning towards selling, and the selling momentum is likely to expand strongly. During this period of high market volatility with a series of negative news affecting gold, prioritize trading in the direction of the trend and wait for a clear breakout candle to confirm the trend before setting up a trade to avoid a false breakout.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.