#GOLD ON THE EDGE ⟶ A ROADMAP WITH CAUTIONS!!
💰In my opinion, the #USDollar could continue to weaken and may even reach its lowest level this year. Why? Because as the Federal Reserve interest rate decision approaches, everyone is expecting the US central bank to cut interest rates significantly (by 50%). This means the dollar could lose its appeal. Technical analysis also shows that the down trend of the dollar could continue. And this has a positive and upward impact on the price of #GOLD 🚀🚀
💎Gold Analysis / ⏱Daily Timeframe:
✅🚀Bullish sentiment persists in GOLD, but it's currently in a delicate situation. Given the significant price appreciation and the potential for divergence after achieving primary targets, caution should be exercised regarding the extent of future growth and potential targets🔥
🎯As long as the price remains above the 4-hour timeframe's bullish trend-line (refer to the figure) and the 2550.003 support level (also on the 4-hour timeframe), the bullish bias prevails towards the following targets:
🚀Target 1: 2614.530-2634.000
🚀🚀Target 2: Monthly upward channel ceiling (indicated separately in the figure)
🚀🚀🚀Target 3: 2876.092-2848.952
⚠️ A bullish outlook beyond Target 3 is not currently recommended!!
❌Stop-loss for the bullish scenario 👉 Considering the sensitive market conditions and the possibility of a trend reversal (from bullish to bearish), a specific level is set as the basis for the end of the bull-trend and the beginning of a bear-trend🔄🔻
👀Pay close attention to the MACD indicator on the daily timeframe👇
As long as it does not form a higher high (above 31.648), the breakdown of the 4-hour timeframe's bullish trend-line and the 2550.003 support could potentially drive the market into a bear-trend towards the targets indicated in the figure (2401.300 and 2299.150)‼️
🚀🔥Conversely, if the MACD on the daily timeframe stabilizes above the previous high, it suggests a stronger bullish inclination towards Targets 2 and 3 (indicating a robust bull-trend).
....................................
💎Gold Analysis / ⏱Based on the 1-hour timeframe
🚀According to the main analysis (the above explanations on the daily timeframe), there is currently a tendency for growth with the stop-loss I've provided.
📌There are a few scenarios for continued growth:
✅Growth from this level
Given the exhaustion of the recent decline (in the form of a 15-minute timeframe bearish channel), if support is maintained from here (the channel bottom) and the daily GOLD resistance (2582.519) and the 15-minute timeframe channel high are broken upwards, it is a signal for the start of growth.
✅Growth from lower prices
Before confirming growth based on the first scenario, if there is a decline, GOLD may find support from one of the following support zones:
🚀Support at 2568.054 and the 1-hour timeframe bullish trendline
🚀🚀Support at 2550.003
🚀🚀🚀The 4-hour timeframe bullish trendline
and then grow.
⚠️(Please pay attention to the overall stop-loss based on the 4-hour timeframe)
💎Gold Analysis / ⏱Daily Timeframe:
✅🚀Bullish sentiment persists in GOLD, but it's currently in a delicate situation. Given the significant price appreciation and the potential for divergence after achieving primary targets, caution should be exercised regarding the extent of future growth and potential targets🔥
🎯As long as the price remains above the 4-hour timeframe's bullish trend-line (refer to the figure) and the 2550.003 support level (also on the 4-hour timeframe), the bullish bias prevails towards the following targets:
🚀Target 1: 2614.530-2634.000
🚀🚀Target 2: Monthly upward channel ceiling (indicated separately in the figure)
🚀🚀🚀Target 3: 2876.092-2848.952
⚠️ A bullish outlook beyond Target 3 is not currently recommended!!
❌Stop-loss for the bullish scenario 👉 Considering the sensitive market conditions and the possibility of a trend reversal (from bullish to bearish), a specific level is set as the basis for the end of the bull-trend and the beginning of a bear-trend🔄🔻
👀Pay close attention to the MACD indicator on the daily timeframe👇
As long as it does not form a higher high (above 31.648), the breakdown of the 4-hour timeframe's bullish trend-line and the 2550.003 support could potentially drive the market into a bear-trend towards the targets indicated in the figure (2401.300 and 2299.150)‼️
🚀🔥Conversely, if the MACD on the daily timeframe stabilizes above the previous high, it suggests a stronger bullish inclination towards Targets 2 and 3 (indicating a robust bull-trend).
....................................
💎Gold Analysis / ⏱Based on the 1-hour timeframe
🚀According to the main analysis (the above explanations on the daily timeframe), there is currently a tendency for growth with the stop-loss I've provided.
📌There are a few scenarios for continued growth:
✅Growth from this level
Given the exhaustion of the recent decline (in the form of a 15-minute timeframe bearish channel), if support is maintained from here (the channel bottom) and the daily GOLD resistance (2582.519) and the 15-minute timeframe channel high are broken upwards, it is a signal for the start of growth.
✅Growth from lower prices
Before confirming growth based on the first scenario, if there is a decline, GOLD may find support from one of the following support zones:
🚀Support at 2568.054 and the 1-hour timeframe bullish trendline
🚀🚀Support at 2550.003
🚀🚀🚀The 4-hour timeframe bullish trendline
and then grow.
⚠️(Please pay attention to the overall stop-loss based on the 4-hour timeframe)
Related publications
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.
Related publications
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.