MARKET 1H OUTLOOK
Updated
Today’s technical analysis of the XAU/USD (Gold/US Dollar) pair indicates a potential bearish trend. As of recent updates, the price is struggling to hold above the $2,680 support, encountering resistance around $2,710.
Currently, the Stochastic Oscillator is also in oversold territory, reinforcing the bearish outlook while suggesting that the current downtrend may be nearing an exhaustion point.
Immediate support lies around $2,680. If prices break below this level, it could open the path towards further declines.
On the upside, resistance at approximately $2,710 will be a key level to break for any potential reversal to an uptrend.
Overall, the bearish outlook suggests potential short-term downside, but any rapid changes in market sentiment or external factors like economic reports could alter this setup. Always keep in mind that these indicators are dynamic, and market volatility could influence real-time results.
Currently, the Stochastic Oscillator is also in oversold territory, reinforcing the bearish outlook while suggesting that the current downtrend may be nearing an exhaustion point.
Immediate support lies around $2,680. If prices break below this level, it could open the path towards further declines.
On the upside, resistance at approximately $2,710 will be a key level to break for any potential reversal to an uptrend.
Overall, the bearish outlook suggests potential short-term downside, but any rapid changes in market sentiment or external factors like economic reports could alter this setup. Always keep in mind that these indicators are dynamic, and market volatility could influence real-time results.
Trade active
sell running 480+pips
Trade closed: stop reached
sell target done 740+pips booked Note
buy active from here for recent liqudity
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