GOLD/USD bearish outlook suggesting further downside is expectedOrder block: Highlighted in a yellow box, indicating a potential supply/demand zone.
Support zones: Green boxes that suggest areas where price may find buying interest.
Price projections: Annotations show possible bearish movement with two targets.
ABC pattern: The letters A, B, C, and D mark a potential harmonic or price movement pattern.
First and Final Target: Two green zones marked as target areas for potential price decline.
Red Arrow: Indicates a bearish outlook suggesting further downside is expected.
Notable Features:
Price Peaks and Corrections: The chart identifies a major peak followed by multiple retracements and lower highs/lows.
Buy/Sell Prices Displayed: Current bid (SELL) is 3,267.055 and ask (BUY) is 3,267.652.
Percentage Changes: Green percentage values (e.g., 0.57%, 0.63%) show gains between points.
Highlighted Zone (Red Rectangle): Could indicate a resistance area or previous high zone.
Interpretation:
The analysis suggests that the price of gold (XAU/USD) has recently peaked and is expected to move lower.
After a small retracement to the first target zone, a further drop is expected toward the final target.
Strong support is marked below the final target area, possibly indicating where buyers might re-enter.
This is a classic technical analysis chart likely used to plan a short trade setup based on price action and structure.
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