Gold Next Move Prediction
Updated
Today's my technical analysis of XAU/USD (Gold/USD) on a 2-hour timeframe, highlighting potential price movement based on key levels and trends:
1. Resistance Level (2,670.528):
A horizontal red dotted line marks a resistance zone where the price may struggle to break higher. This is a potential reversal point for the current uptrend.
2. Support Level (2,640.116):
A blue horizontal zone below indicates a potential support area where the price could stabilize after retracing.
3. Trend Line:
A red upward-sloping dotted line reflects the broader upward trend, suggesting overall bullish momentum despite a possible short-term pullback.
4. Projected Price Action:
A curved blue arrow predicts the price testing resistance at 2,670.528 before pulling back to the support zone near 2,640.116. This reflects a classic retracement scenario within an uptrend.
I would suggest the price may consolidate or rebound after retracement, aligning with the overall bullish trend.
Note: Always remember these analysis are for educational purposes not the trading advice, kindly trade at your own risk. Follow, like and support us guys
1. Resistance Level (2,670.528):
A horizontal red dotted line marks a resistance zone where the price may struggle to break higher. This is a potential reversal point for the current uptrend.
2. Support Level (2,640.116):
A blue horizontal zone below indicates a potential support area where the price could stabilize after retracing.
3. Trend Line:
A red upward-sloping dotted line reflects the broader upward trend, suggesting overall bullish momentum despite a possible short-term pullback.
4. Projected Price Action:
A curved blue arrow predicts the price testing resistance at 2,670.528 before pulling back to the support zone near 2,640.116. This reflects a classic retracement scenario within an uptrend.
I would suggest the price may consolidate or rebound after retracement, aligning with the overall bullish trend.
Note: Always remember these analysis are for educational purposes not the trading advice, kindly trade at your own risk. Follow, like and support us guys
Note
140+ pips have been collected now and yet target not reached Trade closed: target reached
Congrats guys target reached market touched our touched our take profits, that was an amazing entry in Gold and a good setup..
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