XAU/USD H4 Analysis: Bullish Continuation with Key Target!

l’altro ieri

H4 Analysis – XAU/USD
Current Price: $2,668

Gold is currently consolidating within a well defined upward channel on the 4h timeframe. The market has exhibited steady bullish momentum after bouncing off a key support zone around $2620. Recent price movements show strong bullish momentum, pointing towards a possible move to higher resistance levels.

Key Features:
- Resistance Zone: Around $2730, where price could face selling pressure.

- Support Zone: Around $2660, aligning with the trendline, acting as a potential entry point.

- Trendline Support: The trendline drawn indicates a steady bullish climb, with price respecting this dynamic support.

- Target Zone: The ultimate target for this analysis is at $2,760, which aligns with a historical resistance level.

There are a few news events this week that could impact our analysis. I will update this idea with any potential entry opportunities.

1 ora fa

Trade attivo

The market has moved nearly 500 pips upward from the demand zone. There are two potential zones where the market could pull back slightly before continuing its upward movement. The first zone is unmitigated h4 OB, and the second zone is between $2723 and $2626. We need to monitor the closing of gold, as we may see a small correction of around 150-200 pips.

I will continue to update this idea.