XAUUSD / OVERALL UNDER UPWARD PRESSURE / 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
Current Market Movement:
• Prices initially dropped to a buy zone at around $2,728, where a buying opportunity was identified.
• After reaching this zone, the price increased, securing a profit of 145 pips.
Price Retesting and Stabilizing:
• The price is currently retesting the $2,728 level.
• If the price stabilizes above this level, it indicates potential upward momentum.
Upward Targets:
• If prices hold above $2,728, the next target range is a Fair Value Gap (FVG) between $2,756 and $2,772. This gap suggests potential for further gains if it’s reached and surpassed.
Demand zone and Downward Risks:
• If prices break below $2,728, they may fall to $2,710.
• Should prices decline below $2,710, further drops are expected, with a potential support or “demand zone” between $2,688 and $2,672.
Overall Market Sentiment:
• Despite potential downward corrections, the market remains under bullish pressure, indicating that the primary trend remains upward for now.
