Analysis Of Gold (XAUUSD)

💡Key Economic Updates for the Week:

• Nonfarm Payrolls (Friday):
• Expected to indicate solid job growth.
  
• Likely to influence USD strength.
  
• Impact on Gold: May react inversely to USD performance based on labor market data.
• ISM Services PMI (Thursday):
• Provides insights into economic activity and inflation trends.
• Federal Reserve Watch:
• Traders will monitor speeches from Fed officials for hints on future rate decisions.

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📊1. Trend Analysis:

• Higher Timeframe (4H Chart):
o The price is trading within an ascending channel (marked by red trendlines),
indicating a bullish structure overall.
o However, the recent rejection from the upper boundary of the channel and
subsequent pullback suggests a potential retracement phase.

• Lower Timeframe (1H and 15M Charts):

o The price has entered a significant demand zone (highlighted in light blue)
after breaking below a minor consolidation range.
o Fibonacci retracement levels are being used to determine possible
Take Profit (TP) levels during the pullback.
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2. Key Levels Identified:

• Resistance Levels (Supply Zones):

o $2,788–$2,790 (Red Zone):
 A strong supply area where price has rejected multiple times.
 This zone aligns with liquidity above recent highs.

• Immediate Resistance:
o $2,796 (Liquidity Zone):
 A potential target if price attempts to retest liquidity near this level.

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• 📊Support Levels (Demand Zones):

o $2,764 (Fib TP1):
 This is the first target level from Fibonacci retracement analysis.
o $2,751.5 (Fib TP2):
 A deeper retracement target, aligning with a significant
point of interest (POI) on the chart.

o Channel Support (~$2,750):
 The lower boundary of the ascending channel, acting as dynamic support.

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⚠️ Possible Scenarios:

1. Bullish Scenario:

o If price holds above $2,764 (Fib TP1), expect a reversal toward
$2,788–$2,790 (supply zone) or even the liquidity zone at $2,796.

2. Bearish Scenario:

o If price breaks below $2,764, further downside toward $2,751.5 (Fib TP2) or
the ascending channel support near $2,750 is likely.
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4. Key Takeaways:

• Short-Term Levels:

o Support: $2,764, $2,751.5, and $2,750.
o Resistance: $2,788, $2,790, and $2,796.

• Mid-Term Levels:

o Focus on how the price reacts at $2,764 and the ascending channel's
lower boundary for clearer direction.
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👉 Always follow TP/SL to protect your capital and maximize profits!

Stay tuned for updates once the confirmations are in place!

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📢Best Regards , Silver Wolf Traders Community

Disclaimer: This is for educational purposes only.
Always trade responsibly and manage your risk effectively