Hello traders! Here’s my technical outlook based on the current XAUUSD (1H) chart structure. Gold previously traded within a range, showing consolidation before reaching a pivot point at the top of the structure. From there, price reversed sharply and entered a descending channel.
Currently, XAUUSD is trading below the 4,580 supply zone, which acts as resistance, while approaching the 4,510 demand zone. Multiple rejections and breakouts inside the channel highlight strong selling pressure and continuation of the downtrend.
As long as XAUUSD remains below the 4,580 resistance and respects the descending channel, the bearish scenario remains valid. A rejection from this area could push price toward the 4,490 support (TP1). Manage your risk!
Currently, XAUUSD is trading below the 4,580 supply zone, which acts as resistance, while approaching the 4,510 demand zone. Multiple rejections and breakouts inside the channel highlight strong selling pressure and continuation of the downtrend.
As long as XAUUSD remains below the 4,580 resistance and respects the descending channel, the bearish scenario remains valid. A rejection from this area could push price toward the 4,490 support (TP1). Manage your risk!
Trade chiuso manualmente
The market has been shaken by the latest news. The price of gold also received an impulsive upward movement, confidently breaking through the descending channel.
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🔶 Free telegram channel👉 t.me/heniitrading
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
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.