XAU/USD : More Fall Ahead ? (READ THE CAPTION)

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We can observe that after reaching $2699 again, gold faced selling pressure and has corrected down to $2659 so far. Considering that both the New York and Canadian markets are closed today, we are likely to see the next significant move tomorrow.

Considering the current price trajectory, we need to see how gold reacts if it declines further to the $2649 level. If this level does not hold as support, there is a high likelihood that gold will first hit the $2643 target and then continue dropping to $2630 and $2616.

THE MAIN IDEA :

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Best Regards , Arman Shaban

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تم فتح الصفقة

GOLD reached $2649 as i expected!

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ملاحظة

GOLD reached $2643 ! More Fall Ahead ?

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ملاحظة

GOLD reached $2635 ! +230 Pips so far !

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أغلقت الصفقة: تم الوصول للهدف

By Analyzing the #Gold chart on the 4-hour timeframe, we can see that the price moved as expected, starting its decline from the $2657 zone and hitting the targets of $2649, $2643, $2630, and $2616, delivering a gain of around 400 pips. However, the price didn’t stop there and extended its sharp drop, finally entering the $2500 range. Earlier today, gold reached $2590, marking its lowest level in five weeks.

Currently, gold is trading around $2596, with demand zones identified at $2586–$2593 and $2555–$2562. This downtrend is likely to continue, potentially driving prices to these levels. Key supply zones are at $2610, $2619–$2626, and $2643.