Greetings, Traders. Let's delve into a comprehensive higher timeframe analysis, stretching from the daily to the 4-hour timeframe. Currently, we're observing gold trading in the range of 1964 to 1991, and it's riding a bullish trend. If we manage to break above this range, our eyes are set on the next resistance level at 2007 to 2014.
Further ahead, the historical high of
XAUUSD
at 2066 to 2073 is our target. However, we're still within the 1962 to 1991 range for now. In case we break down and achieve a full 4-hour candlestick close, the next area of focus becomes 1943 to 1947. If this doesn't hold, we'll shift our attention to 1926 to 1936. Keep in mind that market situations can change, so stay tuned for updates. As of now, our bias is bullish on gold.
DISCLAIMER: I am not a financial adviser. The Analysis on my channel are for educational purposes only
Further ahead, the historical high of
XAUUSD
at 2066 to 2073 is our target. However, we're still within the 1962 to 1991 range for now. In case we break down and achieve a full 4-hour candlestick close, the next area of focus becomes 1943 to 1947. If this doesn't hold, we'll shift our attention to 1926 to 1936. Keep in mind that market situations can change, so stay tuned for updates. As of now, our bias is bullish on gold. DISCLAIMER: I am not a financial adviser. The Analysis on my channel are for educational purposes only
This movement aligns with the prevailing bullish trend. The price has surged directly to our next resistance level at 2008 - 2014. It's worth highlighting that the market exhibited a clear rejection upon making contact with this level.