Gold (XAU/USD) Next Possible Move?
🔍 4-Hour Chart Analysis:
Trend: The price was in an uptrend, but a potential reversal has formed.
✅Key Bearish Signal: The presence of an Evening Star candlestick pattern at resistance (~$3,038) signals a potential trend reversal.
✅ Moving Averages:
✅ 50 EMA (Exponential Moving Average): The price is testing this level as support.
✅ 200 EMA : Positioned lower, suggesting that the long-term trend is still bullish, but short-term weakness is visible.
📉 Support Levels:
✅$3,005 (Minor Support)
✅$2,981 (Stronger Support)
📉 Resistance Levels:
✅$3,038 (Key Resistance)
🔹 Summary:
The formation of an Evening Star at resistance suggests a potential downtrend unless the price strongly holds above the 50 EMA. A breakdown of $3,005 could accelerate selling toward $2,981.
🔍 1-Hour Chart Analysis:
📊Key Observations:
Trendline Resistance : A descending trendline is pushing prices lower.
50 EMA Resistance : Price is failing to break above the 50 EMA, confirming selling pressure.
🚨 200 EMA Support : Price is holding above the 200 EMA, acting as a dynamic support.
🚨 Point of Interest (POI) Zone : The blue-shaded area is a key demand zone, where buying pressure might increase.
🚨 Fair Value Gap (FVG) Below: There’s an imbalance below $2,981, which price may fill before rebounding.
🔹 Summary :
If the 200 EMA support at $3,002 fails, a move toward the FVG zone near $2,981 is likely. A break above the trendline resistance and 50 EMA would signal a possible bullish reversal.
🔍 15-Minute Chart Analysis:
📊Key Observations:
📉 Bearish Crossover: The 50 EMA crossed below the 200 EMA, a bearish sign indicating selling pressure.
📉 Lower Highs Formation : Price is making lower highs, respecting the trendline resistance.
📉 Support Zone Holding : The blue POI level is still acting as a temporary support.
🔹 Summary:
The short-term momentum is bearish, as indicated by the EMA crossover and trendline rejection. However, if buyers step in at the POI level, a short-term bounce may occur. If support at $2,999-$3,002 breaks, expect further downside.
📌 Trading Plan & Key Levels to Watch
🟢 Bullish Scenario:
A break above the trendline and 50 EMA (~$3,020) could lead to a push toward $3,038.
A strong bounce from $2,981 (support level) could provide buying opportunities.
📍 Bearish Scenario:
A break below $3,002 (200 EMA support) may trigger a move toward $2,981.
If $2,981 breaks, the price could target the FVG area ($2,955 - $2,930).
📉 Conclusion
Short-Term Trend: Bearish unless the price reclaims $3,020+.
Key Support: $3,002, $2,981
Key Resistance: $3,020, $3,038
Strategy: Watch for a breakout above trendline for bullish confirmation or a break below $3,002 for bearish continuation.
👉 Always follow TP/SL to protect your capital and maximize profits!
Stay tuned for updates once the confirmations are in place!
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