XAUUSD Weekly Analysis
Monthly: If a candle flips, it may show a rejection from 2048.
Weekly: Closing below 2000 or more than 1990 looks like a fakeout. The 1970 support area has already been tested. Next, the candle may test the 1950 mark.
Daily: The range we saw for the whole week was between 1995 and 2005, and Friday's candle closed way below this range. This gives us a bearish sentiment, as there is little to no support for the price.
4H: The candle support has been created below the previous candle. Breaking this 1977 support and closure will give us an idea to strongly sell the price and expect it to be around 1960 or 1950.
Buying at this moment may be hard, but it can happen if the price goes above 1990. However, the 1995 to 2005 range is very uncertain previously.
("Disclaimer: I am a learner of price action trading for gold during the NY session. If you are also learning, please feel free to like and comment for more interaction, so we can grow and learn together. However, please note that any information or content shared is for educational purposes only and should not be considered as financial advice. Please do your own research and seek professional advice before making any investment decisions.")
Weekly: Closing below 2000 or more than 1990 looks like a fakeout. The 1970 support area has already been tested. Next, the candle may test the 1950 mark.
Daily: The range we saw for the whole week was between 1995 and 2005, and Friday's candle closed way below this range. This gives us a bearish sentiment, as there is little to no support for the price.
4H: The candle support has been created below the previous candle. Breaking this 1977 support and closure will give us an idea to strongly sell the price and expect it to be around 1960 or 1950.
Buying at this moment may be hard, but it can happen if the price goes above 1990. However, the 1995 to 2005 range is very uncertain previously.
("Disclaimer: I am a learner of price action trading for gold during the NY session. If you are also learning, please feel free to like and comment for more interaction, so we can grow and learn together. However, please note that any information or content shared is for educational purposes only and should not be considered as financial advice. Please do your own research and seek professional advice before making any investment decisions.")
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