This 1-hour chart analysis of XAU/USD (Gold) outlines a recent sharp decline 📉. The price is currently trading around **3186 – 3190** and approaching a key resistance level at **3191** 🔥. If bulls manage to push the price above this level and hold it, we have a clean range, so price could continue toward the **3218** zone 🚀. This area previously acted as strong resistance, and a break above it would confirm bullish momentum 📈.
On the flip side, if the price fails to break above the **3191** resistance ❌, a rejection may trigger a bearish move back toward the **4-hour Fair Value Gap (FVG)** zone between **3140–3160** ⚠️. This area acts as a strong demand/support zone 🛡️ and could offer a favorable entry for buyers aiming for a swing-long position 🎯.
On the flip side, if the price fails to break above the **3191** resistance ❌, a rejection may trigger a bearish move back toward the **4-hour Fair Value Gap (FVG)** zone between **3140–3160** ⚠️. This area acts as a strong demand/support zone 🛡️ and could offer a favorable entry for buyers aiming for a swing-long position 🎯.
Trade active
Price has now tapped into the H4 Fair Value Gap (3140–3160) zone as expected. This is a key demand area, and the idea is now active ✅. I'm watching for a bullish reaction from this zone
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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.