Hello traders! Here’s my technical outlook based on the current XAUUSD (2H) chart structure. Gold previously moved under a descending supply line, where price formed lower highs, confirming sustained bearish pressure. After a rejection from a pivot high, the market broke below the rising demand line, signaling a shift in structure from bullish to bearish. Following the breakdown, price entered a consolidation range, which later resolved to the downside with a confirmed breakout.
Currently, XAUUSD is trading below the 4,470 supply zone, which acts as key resistance. At the same time, price is approaching the 4,330 demand zone, where temporary reactions may occur but overall structure remains weak.
As long as price remains below the 4,470 resistance and inside the descending channel, the bearish bias stays valid. A continuation lower could push gold toward the 4,330 support, which is the primary downside target. Manage your risk!
Currently, XAUUSD is trading below the 4,470 supply zone, which acts as key resistance. At the same time, price is approaching the 4,330 demand zone, where temporary reactions may occur but overall structure remains weak.
As long as price remains below the 4,470 resistance and inside the descending channel, the bearish bias stays valid. A continuation lower could push gold toward the 4,330 support, which is the primary downside target. Manage your risk!
トレード稼働中
Gold has broken out of the descending channel. But in my opinion this will be a fake breakout. Because the current news is not on the side of the buyers!手動でトレードを終了しました
We see a situation where gold has consolidated after breaking through the descending channel. That's why we need to consider recovery scenarios!
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