XAUUSD - AFTER FOMC SPEECH - 4H
Updated
XAUUSD / 4H TIME FRAME
HELLO TRADERS
In the month of August, prices started to increase until September by 10.04%, reaching a new historical peak of $2,600. As long as they remain below this level, it indicates a decline at a rate of 2.66%.
Technically analysis :
Gold reached a historical peak of $2,600 but began to decline following a speech by Jerome Powell. The decline was significant, hitting the target of +420 pips.
Prices are now trading under downward pressure. The key levels to watch are $2,589 and $2,575. As long as the price remains below these levels, it indicates a downtrend
If gold continues to stay below $2,575, it is expected to drop further to $2,551, and potentially down to $2,531.
Conversely, if a 4-hour candle closes above $2,575, it suggests that prices could reverse upwards, targeting $2,589, and potentially returning to the all-time high of $2,600.
overall , that the short-term outlook for gold is bearish, but there is potential for a bullish reversal if the price stabilizes above $2,575. Traders should monitor these levels closely to gauge the next move in the market.
UPWARD TARGET : 2,589$ , 2,600$ .
DOWNWARD TARGET : 2,551$ , 2,531$.
HELLO TRADERS
In the month of August, prices started to increase until September by 10.04%, reaching a new historical peak of $2,600. As long as they remain below this level, it indicates a decline at a rate of 2.66%.
Technically analysis :
Gold reached a historical peak of $2,600 but began to decline following a speech by Jerome Powell. The decline was significant, hitting the target of +420 pips.
Prices are now trading under downward pressure. The key levels to watch are $2,589 and $2,575. As long as the price remains below these levels, it indicates a downtrend
If gold continues to stay below $2,575, it is expected to drop further to $2,551, and potentially down to $2,531.
Conversely, if a 4-hour candle closes above $2,575, it suggests that prices could reverse upwards, targeting $2,589, and potentially returning to the all-time high of $2,600.
overall , that the short-term outlook for gold is bearish, but there is potential for a bullish reversal if the price stabilizes above $2,575. Traders should monitor these levels closely to gauge the next move in the market.
UPWARD TARGET : 2,589$ , 2,600$ .
DOWNWARD TARGET : 2,551$ , 2,531$.
Trade active
Above 2,575$: Indicates bullish momentum, with potential to reach the all-time high (ATH) at 2,600$.
Below 2,600$: If it fails to break above this level, it indicates resistance, suggesting a possible decline.
2,575$: Support level. Breaching this could indicate a shift in trend.
2,551$: Lower support, possibly the next target if the decline continues.
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.