XAUUSD – Latest Trend Update
Good day Traders,
Gold has so far unfolded in line with yesterday’s projection: following a corrective pullback towards 3660, price has resumed its decline and is currently maintaining a bearish tone. Should this structure be confirmed on the higher timeframes such as H1 and H4, it may indicate that a broader corrective phase on the daily chart (D1) is underway.
Key Levels of Interest
3620: Established as an important support yesterday, this level is now regarded as the key marker for confirming continued downside momentum.
3630: Coincides with the lower boundary of the ascending channel, where a reaction could still develop before direction becomes clearer.
Medium-Term Outlook
A decline towards 3550 is anticipated, from which a rebound could follow – this represents the preferred medium-term scenario.
A deeper retracement to 3510 is also possible, where liquidity from previous candle wicks may be absorbed before the longer-term uptrend resumes on the daily timeframe.
This expectation of a corrective move is supported by the fact that price has already reached the Fibonacci Extension 2.618, often a sign of exhaustion in the prior leg.
Trading Approach
Monitor the 3630 – 3620 – 3610 zones for potential long opportunities in line with the broader bullish structure.
Short positions should only be considered if price delivers a decisive close beneath 3620, thereby confirming renewed downside pressure.
This is my current outlook for gold today. Please use it as a guide alongside your own analysis and risk management.
Good day Traders,
Gold has so far unfolded in line with yesterday’s projection: following a corrective pullback towards 3660, price has resumed its decline and is currently maintaining a bearish tone. Should this structure be confirmed on the higher timeframes such as H1 and H4, it may indicate that a broader corrective phase on the daily chart (D1) is underway.
Key Levels of Interest
3620: Established as an important support yesterday, this level is now regarded as the key marker for confirming continued downside momentum.
3630: Coincides with the lower boundary of the ascending channel, where a reaction could still develop before direction becomes clearer.
Medium-Term Outlook
A decline towards 3550 is anticipated, from which a rebound could follow – this represents the preferred medium-term scenario.
A deeper retracement to 3510 is also possible, where liquidity from previous candle wicks may be absorbed before the longer-term uptrend resumes on the daily timeframe.
This expectation of a corrective move is supported by the fact that price has already reached the Fibonacci Extension 2.618, often a sign of exhaustion in the prior leg.
Trading Approach
Monitor the 3630 – 3620 – 3610 zones for potential long opportunities in line with the broader bullish structure.
Short positions should only be considered if price delivers a decisive close beneath 3620, thereby confirming renewed downside pressure.
This is my current outlook for gold today. Please use it as a guide alongside your own analysis and risk management.
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Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.