XAUUSD 4HR Analysis Update
Gold took a tumble mid week down to $2,495 which saw it respect the same dynamic support level and 50 ema for the second time in the last week as we saw last thursday, as price is now respecting this key level and ranging between this and the all time high with gold teasing a break above the resistance with the bull trend still intact in a continuation play its likely we will soon see new all time highs unless gold breaks the key support, closes below such and the floating dynamic ema whilst invalidating the market structure.
Going forwards I can see price still ranging between the lower $2,500's with perhaps a lower high in the smaller time frames created around $2,506 as a short term target before aiming for longer term target of $2,550 and so on.
Going forwards I can see price still ranging between the lower $2,500's with perhaps a lower high in the smaller time frames created around $2,506 as a short term target before aiming for longer term target of $2,550 and so on.
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