Xauusd market update This chart presents a 4-hour analysis of Gold Spot (XAU/USD) against the US Dollar, showing potential bullish scenarios based on price zones and market reactions.
Key Insights:
Current Price:
$3,353.31, slightly down 0.11%.
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Highlighted Zones:
1. Resistance Zone (~$3,420–$3,455):
Price reacted here previously.
Marked as a potential final target for bullish momentum.
2. Mid Supply/Resistance Zone (~$3,370–$3,405):
Critical decision area.
Price might face consolidation or rejection.
3. Demand Zone (~$3,240–$3,270):
Previously respected support.
Ideal area for a bullish reversal if price dips.
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Projected Price Paths (Black Dotted Lines):
Scenario A (Immediate Bullish):
Price consolidates above $3,350.
Breaks into the mid-zone, then pushes to $3,450 resistance.
Scenario B (Pullback Then Rally):
Declines to the $3,250 demand zone.
Rebounds strongly, breaks mid-zone, and heads for $3,450.
Scenario C (Range-bound):
Multiple bounces between $3,250 and $3,405 before a decisive breakout.
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Conclusion:
The chart suggests a bullish bias as long as price holds above the $3,250 support zone. Breakout confirmation above $3,405 could pave the way toward $3,450+. However, a drop below the demand zone would invalidate the bullish outlook short-term.
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