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Bearish Continuation Analysis on XAU/USD (Gold Spot)
The 4-hour chart of XAU/USD (Gold Spot vs. U.S. Dollar) shows a clear bearish trend, with price respecting a descending trendline. A key resistance zone, highlighted in purple, has caused a rejection as the price failed to break through. This aligns with the ongoing downward momentum, suggesting the potential for further declines.
The analysis predicts a downward movement (indicated by the white arrow) targeting the horizontal support level near $2,482.146. This setup highlights a continuation of the bearish trend as sellers maintain control.
Analysis by Learn and Trade Forex
Stay ahead in the market with expert insights and strategies. For more, visit learnandtradeforex.com.
The analysis predicts a downward movement (indicated by the white arrow) targeting the horizontal support level near $2,482.146. This setup highlights a continuation of the bearish trend as sellers maintain control.
Analysis by Learn and Trade Forex
Stay ahead in the market with expert insights and strategies. For more, visit learnandtradeforex.com.
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