Asia-Europe session analysis on July 31, 2024:
The news of war has broken the downtrend on the M30 timeframe, indicating a high probability that prices will reach the liquidity zone of 30-33 and then experience a slight decrease before continuing the upward trend.
However, on the H4 timeframe, closing and maintaining prices above the 2440-2445 zone is necessary for the uptrend to resume. The current analysis on the D timeframe still shows a downward trend. Today marks the end-of-month candle closing and is expected to bring unpredictable fluctuations.
Key price levels to watch are 2408 - 2410 and 2440 - 2445.
Recommended orders:
Plan 1: BUY XAUUSD zone 2408 - 2410
SL 2404
TP 2413 - 2423 - 2430.
Plan 2: SELL XAUUSD zone 2430-2433
SL 2435
TP 2427 - 2423 -2418.
The news of war has broken the downtrend on the M30 timeframe, indicating a high probability that prices will reach the liquidity zone of 30-33 and then experience a slight decrease before continuing the upward trend.
However, on the H4 timeframe, closing and maintaining prices above the 2440-2445 zone is necessary for the uptrend to resume. The current analysis on the D timeframe still shows a downward trend. Today marks the end-of-month candle closing and is expected to bring unpredictable fluctuations.
Key price levels to watch are 2408 - 2410 and 2440 - 2445.
Recommended orders:
Plan 1: BUY XAUUSD zone 2408 - 2410
SL 2404
TP 2413 - 2423 - 2430.
Plan 2: SELL XAUUSD zone 2430-2433
SL 2435
TP 2427 - 2423 -2418.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.