XAUUSD - 4H Gold’s Potential Downturn

20 de ago.XAUUSD has recently surged to the top of its ascending channel, reaching above the $2,500 level. This move, however, appears to be a liquidity hunt, where the market triggers stops above significant levels before reversing direction. After this liquidity grab, technical analysis suggests a strong possibility of gold retracing within the ascending channel.

Fundamentally, several factors are contributing to the potential downside. The recent easing of tensions in the Israel-Palestine conflict has reduced demand for safe-haven assets like gold. Additionally, the de-escalation in geopolitical risks generally leads to a pullback in gold prices as investors shift towards riskier assets. Moreover, the broader market sentiment is leaning towards a stronger dollar, especially with expectations of continued monetary tightening by central banks, which could also pressure gold prices downward.

Given these technical and fundamental factors, gold is likely to face a correction back within the channel, with potential support levels around $2,350-$2,400. This retracement would align with the overall market dynamics and investor sentiment shifting away from gold.

21 de ago.

Trade ativo

Gold has reached its peak around $2,530, and as we discussed earlier, this was likely the last high before a decline. Currently, I expect a minor rise back into the resistance zone before a significant drop, especially with tomorrow’s PMI and unemployment claims news. Watch closely, as the move back to the channel could be sharp.

22 de ago.

Trade ativo

Congrats on the call! Gold dropped exactly as predicted after touching the liquidity zone and has now returned to the channel. Great execution!