Daily analysis of the gold chart
Technical Analysis of XAU/USD (Gold to USD) - 4H Timeframe
1. Overall Market Trend
The market is in a clear uptrend, consistently forming higher highs (HH) and higher lows (HL).
Multiple Break of Structure (BOS) events indicate the continuation of bullish momentum.
2. Key Zones on the Chart
Support Zones (Floors): Important support levels are marked in purple and yellow, where price has previously reacted.
Resistance Zones: The $2,766 - $2,780 area is a significant order block (OB H4), currently acting as a resistance.
H4 Structural Support: A green zone represents a key support structure.
3. Possible Price Movements
Bullish Scenario (Upward Move)
✅ If the price breaks above the $2,766 - $2,780 resistance, it may continue rallying towards $2,802 and beyond.
Bearish Scenario (Downward Correction)
⚠ If the price fails to break resistance and gets rejected, a pullback to the H4 structural support (around $2,740 - $2,745) is likely.
📉 Further weakness below this level could push the price down to $2,700 and $2,696.
Conclusion
📈 A breakout above resistance signals a continuation of the uptrend.
📉 Failure to break resistance may lead to a pullback towards support levels.
👀 It's recommended to wait for a clear breakout or confirmation of rejection before making a trading decision.
1. Overall Market Trend
The market is in a clear uptrend, consistently forming higher highs (HH) and higher lows (HL).
Multiple Break of Structure (BOS) events indicate the continuation of bullish momentum.
2. Key Zones on the Chart
Support Zones (Floors): Important support levels are marked in purple and yellow, where price has previously reacted.
Resistance Zones: The $2,766 - $2,780 area is a significant order block (OB H4), currently acting as a resistance.
H4 Structural Support: A green zone represents a key support structure.
3. Possible Price Movements
Bullish Scenario (Upward Move)
✅ If the price breaks above the $2,766 - $2,780 resistance, it may continue rallying towards $2,802 and beyond.
Bearish Scenario (Downward Correction)
⚠ If the price fails to break resistance and gets rejected, a pullback to the H4 structural support (around $2,740 - $2,745) is likely.
📉 Further weakness below this level could push the price down to $2,700 and $2,696.
Conclusion
📈 A breakout above resistance signals a continuation of the uptrend.
📉 Failure to break resistance may lead to a pullback towards support levels.
👀 It's recommended to wait for a clear breakout or confirmation of rejection before making a trading decision.
Disclaimer
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