TradeFX_Nexus

TradeFX_Nexus

Key Observations: OANDA:XAUUSD Trend Channel: XAUUSD is in an upward trend channel, defined by the upper and lower bands. Previous High: The price has recently tested the previous high of the trend channel. Rejection at Upper Band: If price breaks the previous high and is rejected at the upper band, it could signal a potential reversal of the upward...

TradeFX_Nexus

OANDA:XAUUSD Short-Term View (4H Chart): Gold recently faced significant resistance around the 2030 zone .Despite technical and fundamental indicators pointing a downward break, bullish sentiment was driven by geopolitical events triggering a break above the 2030 zone. This break was short lived however, as price retraced back under the 2030 zone. The failure...

TradeFX_Nexus

OANDA:XAUUSD Overview: Gold continues to grapple with the formidable resistance zone around 2030-35, with indicators suggesting a potential reversal on the horizon. Here's a breakdown of the current analysis and potential trade setup. 1H Timeframe Analysis: On the 1-hour timeframe, Gold's struggle to breach the 2030-35 resistance zone persists. The stochastic...

TradeFX_Nexus

Overview: Gold has been exhibiting intriguing behavior on multiple timeframes, presenting traders with both opportunities and challenges. Here's a breakdown of the current setup and potential scenarios to consider. 1H Timeframe Analysis: On the 1-hour timeframe, Gold finds itself navigating within the upper band of the Keltner channels indicator, indicating...

TradeFX_Nexus

On 26 April OANDA:XAUUSD crossed the 2000 phycological resistance zone but soon retraced back down to the 1986 area where it retested back to the phycological resistance zone. OANDA:XAUUSD entered the 2000 - 2003 swing zone on 27 April and rejected back down. The rejection should not be that big as momentum is lacking. Look for support at 1996 and...