Hello everyone MrpipAnalyst is back with new idea about Gold
Short Gold (XAU/USD) Analysis
Current Price: $3936 (Trading around this level)
Short-Term Trend: Bearish Correction. Gold is consolidating after a sharp drop from its recent all-time high of $4,381. The bearish momentum is dominant in the short term, driving the price lower within a corrective phase.
Technical Outlook:
Failed support: The pair failed to hold below the $3945 record low, triggering a sharp sell-off.
Key Support: The critical pivot zone is $3940 - $3926. This level must hold to prevent a deeper decline.
Immediate Bias: Price is showing renewed weakness after the initial bounce.
Fundamental Drivers:
The overall bullish structural trend (geopolitical risk, central bank demand) remains, but the current weakness is driven by profit-taking and a strong US Dollar.
Preferred Scenario (Continuation):
Price is expected to move lower to retest the primary support zone near $3940.
A break below $3926 would accelerate the decline toward the next major low target at $3,900.
Action Point: Watch how the pair reacts at the $3950 support to gauge the likelihood of a rebound or a deeper fall to $3800.
Do you think Gold will find buyers at the $4,000 level, or will it fall to the $3,900 target?
Short Gold (XAU/USD) Analysis
Current Price: $3936 (Trading around this level)
Short-Term Trend: Bearish Correction. Gold is consolidating after a sharp drop from its recent all-time high of $4,381. The bearish momentum is dominant in the short term, driving the price lower within a corrective phase.
Technical Outlook:
Failed support: The pair failed to hold below the $3945 record low, triggering a sharp sell-off.
Key Support: The critical pivot zone is $3940 - $3926. This level must hold to prevent a deeper decline.
Immediate Bias: Price is showing renewed weakness after the initial bounce.
Fundamental Drivers:
The overall bullish structural trend (geopolitical risk, central bank demand) remains, but the current weakness is driven by profit-taking and a strong US Dollar.
Preferred Scenario (Continuation):
Price is expected to move lower to retest the primary support zone near $3940.
A break below $3926 would accelerate the decline toward the next major low target at $3,900.
Action Point: Watch how the pair reacts at the $3950 support to gauge the likelihood of a rebound or a deeper fall to $3800.
Do you think Gold will find buyers at the $4,000 level, or will it fall to the $3,900 target?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
MrpipsAnalyst: Focused on consistent, repeatable Forex pips.
My analysis translates into action. Get my daily signals here: 👇
Telegram Signals t.me/+PKXGyEv8qP5mOWE0
My analysis translates into action. Get my daily signals here: 👇
Telegram Signals t.me/+PKXGyEv8qP5mOWE0
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.