📥 Entry: 4,184 – 4,190 🎯 Take Profit (TP): 4,267 🔒 Stop Loss (SL): 4,175
📌 Analysis: Price bounced from the key demand zone, respected the trendline, and reclaimed EMA support, showing strong bullish momentum toward the target zone. CL1!MGC1!BTC1!SI1!
XAUUSD Price is still respecting the bullish structure, but we’re now trading inside a reaction zone — perfect conditions for both scalp sells and trend-continuation buys.
🟩 Retest Buy Zone: 4146–4144 (SL 4140) Perfect area to join the trend again. Trendline + demand confluence.
🟩 Deep Buy Zone: 4110–4106 (SL 4100) Liquidity sweep zone for a stronger bullish continuation.
Bias: Short-term sell reactions → then waiting for a deeper dip into 4146–4144 to look for longs.
XAUUSDGOLD Gold finally saw a correction, closing lower on the daily chart. However, it's worth noting the technical aspects: the retracement in the NY market on the daily chart didn't break the 5-day moving average, and after finding support at 4145, it rebounded sharply. Currently, the latest 5-day moving average on the daily chart is moving up to around 4157, and the 10-day and 7-day moving averages are trending upwards. Gold prices are maintaining their position within the upper Bollinger Band channel on the daily chart, and the RSI indicator is above the midline.
On the shorter-term 4-hour chart, moving averages are converging, and gold prices are maintaining their position within the upper Bollinger Band channel. The RSI indicator is pulling back and trading near the midline. The main trading strategy for Friday is to buy low and sell high, expecting gold to trade in a wide range, potentially continuing its intraday correction followed by a further rise, then a pullback after reaching a high in the US session. Gold's strength is driven by both safe-haven demand and expectations of a potential Fed rate cut. Intraday trading will depend on its performance against key resistance levels, as well as the correlation between the dollar and US Treasury yields. However, the current trend remains primarily upward with limited downside potential.
Key Levels:
First Support: 4152, Second Support: 4130, Third Support: 4100
First Resistance: 4208, Second Resistance: 4225, Third Resistance: 4250
XAUUSD Good morning People Gold is still showing weakness after yesterday’s red close. Today’s session should give the direction on this weakness continues with reversal flip .
For day trades , price may continue to move inside a range for some time before breaking down . If price moves above 4200 the higher zone needs caution,And while watching for downside break look for follow through . Will brief later .