XAU/USD GOLD SHORT / SELL
🔰 Pair Name : XAU/USD
🔰 Time Frame : 4H
🔰 Scale Type : Long Scale
🔰 Direction : SHORT/SELL
The price has convincingly breached the 78.6% Fibonacci level and has approached the significant 88.6% Fibonacci level, providing strong confirmation of a sustained daily uptrend.
Considering the current strength of the DXY (Dollar Index) and the prevailing market sentiment influenced by Mr. Powell's recent discourse, coupled with the forthcoming release of Initial Job Claims data after June 21st and 22nd, our analysis indicates a bearish movement in the Gold price. Our target is initially set at 1913 today, with potential further downside to 1898. This anticipated decline is expected to occur after a retest of the robust daily resistance located around 1930, which aligns with the 88.6% Fibonacci level.
In terms of potential retracement levels, it is noteworthy that once the price broke above the 78.6% -88.6% Fibonacci level, there is a possible likelihood of non retracment or retracing to the 61.8% level at 1941 and the 50% level at 1946.55 increases, but reaching the 38.2% Fibonacci level at 1951 appears unlikely.
Given the complexity of these potential trading opportunities, it is vital to exercise caution and rely on meticulous analysis and confirmation.
Stay well-informed and make prudent trading decisions based on careful consideration.
🔰 Time Frame : 4H
🔰 Scale Type : Long Scale
🔰 Direction : SHORT/SELL
The price has convincingly breached the 78.6% Fibonacci level and has approached the significant 88.6% Fibonacci level, providing strong confirmation of a sustained daily uptrend.
Considering the current strength of the DXY (Dollar Index) and the prevailing market sentiment influenced by Mr. Powell's recent discourse, coupled with the forthcoming release of Initial Job Claims data after June 21st and 22nd, our analysis indicates a bearish movement in the Gold price. Our target is initially set at 1913 today, with potential further downside to 1898. This anticipated decline is expected to occur after a retest of the robust daily resistance located around 1930, which aligns with the 88.6% Fibonacci level.
In terms of potential retracement levels, it is noteworthy that once the price broke above the 78.6% -88.6% Fibonacci level, there is a possible likelihood of non retracment or retracing to the 61.8% level at 1941 and the 50% level at 1946.55 increases, but reaching the 38.2% Fibonacci level at 1951 appears unlikely.
Given the complexity of these potential trading opportunities, it is vital to exercise caution and rely on meticulous analysis and confirmation.
Stay well-informed and make prudent trading decisions based on careful consideration.
Trade ativo
Nota
Gold will retest 1930 area today, get ready for another sell!
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.