XAUUSD(Gold vs USD) Analysis
Updated
Supply Zone: $2,615 - $2,625
This zone represents a significant level of resistance where sellers have historically entered the market, pushing prices lower. If the price reaches this level, we anticipate selling pressure to increase, potentially reversing any bullish momentum. This supply zone is crucial for traders looking to enter short positions or take profits on long trades.
Demand Turns Supply Zone: $2,644 - $2,653
Initially acting as a demand zone, this range has now flipped to a supply zone due to a shift in market dynamics. This indicates a strong resistance area where sellers have overpowered buyers. If prices rise towards this level, we expect previous buyers to offload positions, reinforcing bearish sentiment.
Demand Zone: $2,528
This is a key support zone where buying interest has been strong, indicating a potential entry point for long trades. Historically, prices have bounced back from this level, reflecting strong demand. A retest of this zone could provide an opportunity for buyers to drive the market higher, targeting the upper resistance levels.
Trade Strategy:
Look for long entries near the demand zone of $2,528 with a target towards the supply zones, particularly focusing on short-term rebounds.
Monitor the $2,644 - $2,653 zone for potential reversal trades due to the shift from demand to supply, signaling a strong resistance area.
Use the $2,615 - $2,625 range to identify short-selling opportunities if there are signs of exhaustion in buying momentum.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
This zone represents a significant level of resistance where sellers have historically entered the market, pushing prices lower. If the price reaches this level, we anticipate selling pressure to increase, potentially reversing any bullish momentum. This supply zone is crucial for traders looking to enter short positions or take profits on long trades.
Demand Turns Supply Zone: $2,644 - $2,653
Initially acting as a demand zone, this range has now flipped to a supply zone due to a shift in market dynamics. This indicates a strong resistance area where sellers have overpowered buyers. If prices rise towards this level, we expect previous buyers to offload positions, reinforcing bearish sentiment.
Demand Zone: $2,528
This is a key support zone where buying interest has been strong, indicating a potential entry point for long trades. Historically, prices have bounced back from this level, reflecting strong demand. A retest of this zone could provide an opportunity for buyers to drive the market higher, targeting the upper resistance levels.
Trade Strategy:
Look for long entries near the demand zone of $2,528 with a target towards the supply zones, particularly focusing on short-term rebounds.
Monitor the $2,644 - $2,653 zone for potential reversal trades due to the shift from demand to supply, signaling a strong resistance area.
Use the $2,615 - $2,625 range to identify short-selling opportunities if there are signs of exhaustion in buying momentum.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
Trade active
trade active.Trade closed: target reached
market is going according to my idea.
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t.me/bullionbuzz
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