🔥 XAU/USD - Bulls are coming ? (READ THE CAPTION)
Updated
By examining gold in the 4-hour time frame, we see that after being supported in the range of $2023, the price was able to grow again up to $2030 and finally close at $2029.620! I think that with the opening of the market, we will see another upward movement of gold, the possible targets of which will be $2032, $2035, and $2039! To determine the next trend, we have to wait for the break and stabilization of the price above $2039 or below $2020! In this case, we can say what trend the price will take in the rest of the week! Due to the fact that there is a lot of possibility of correcting of DXY , for this reason, the expectation of gold's growth is more than its fall, but we do not prejudge at the moment and wait to see what will happen when the market starts!
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Best Regards , Arman Shaban
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Trade closed: target reached
$2032 Reached ! What's NEXT ? By re-examining the gold chart in the 4-hour time frame, we can see that the price moved according to my expectations until its first upward target, i.e., $2032, and then again faced selling pressure and penetrated below $2020! Now, after collecting liquidity below this level, gold is experiencing an upward swing again, and as I said in the previous analysis, we must wait for simultaneous Break and stabilization so that we can determine the next trend! The price reaction to $2025 and $2029 should be monitored!
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