XAU/USD : Awaiting Key Levels Amid Middle East Tensions (READ)

7 août

By examining the gold chart in the 2-hour timeframe, we observe that the price is currently trading around $2398. We are still waiting for the price to reach the range of $2403 to $2410, after which we can prepare for a sell position with an appropriate trigger. Note that the risk of war due to high tensions in the Middle East remains high, which could cause a boost in the gold price, potentially pushing it above $2500. At the moment, we are following the price with our analysis and are trying not to prejudge it too much. We will wait for the price to reach the desired and attractive levels for trading. This analysis will be updated.

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Best Regards , Arman Shaban

8 août

Note

By examining the #gold chart in the 2-hour timeframe, we observe that as expected, after entering the range of $2403 to $2410, the price faced selling pressure and corrected from $2407 to $2381 with a drop of 260 pips. After reaching $2381, the price encountered renewed demand because the range of $2379 to $2384 is an important demand zone, which is why the price reacted to that level. Today, the price rose again to the Bearish OB level we had marked on the chart, and after reaching $2415.5, it faced selling pressure again. It is currently trading around $2404. If the 2-hour candle closes below $2405, we can expect further decline, with targets at $2401, $2395, and $2392, respectively. Further targets will be updated.

9 août

Note

By examining the gold chart in the 2-hour timeframe, we observe that after an initial correction, the price continued to rise further. After reaching $2424, there were several reactions to this level (check the candlestick wicks), and the price continued to rise, currently trading around $2424. The price may continue to increase, and once it reaches $2442.5, we can closely monitor the price action.