GOLD - Making a descending Channel

26 ต.ค.

Hello Traders! Nice to meet you this is my first idea here hope please support me.

• Short XAUUSD Analysis
  
• ​Current Price: $4,111 (Trading around this level)
  

• ​Short-Term Trend: Bearish Correction. Gold is consolidating after a sharp drop from its recent all-time high of $4,381. The bearish momentum is dominant in the short term, driving the price lower within a corrective phase.
  

​Technical Outlook:

​Failed Resistance: The pair failed to hold above the $4,380 record high, triggering a sharp sell-off.
​Key Support: The critical pivot zone is $4,050 - $4,000. This level must hold to prevent a deeper decline.
​Immediate Bias: Price is showing renewed weakness after the initial bounce.
​Fundamental Drivers:

​The overall bullish structural trend (geopolitical risk, central bank demand) remains, but the current weakness is driven by profit-taking and a strong US Dollar.
​Preferred Scenario (Continuation):

​Price is expected to move lower to retest the primary support zone near $4,000.
​A break below $4,000 would accelerate the decline toward the next major support target at $3,900.
​Action Point: Watch how the pair reacts at the $4,000 support to gauge the likelihood of a rebound or a deeper fall to $3,900.

​Do you think Gold will find buyers at the $4,000 level, or will it fall to the $3,900 target?

let me know in comments please 💬
thanks MrPipAnalyst 😇

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Trade active $700 droped 🤩

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