XAUUSD: Bearish Momentum Against 2035
Hello there,
The current candle is bullish for approximately 1h.15 minutes from its open to the 4-hourly candle kept by the 2035.164 high. So we want the price to remain below that high.
The price movement is bearish from the resistance level, and we hope to see a bearish pullback soon. Meaning 2024.14 is significant, it's a preferable area of bearish interest because it is recognizable for the lows there.
2009 is the first potential target for a bias of 1985, and if the price goes above 2035, then the setup will need reevaluation.
footnote :
* The price is consolidating bearishly from the 2041–2021.43 range. Some attention to the demand zone in 1995–1990 if the price is to go below the 2009 target.
Summary :
Overall, the trend is bullish from the low of 1988.897 and couldn't rise above the 2044.344 for three days to the current candle in the daily chart, weakening towards fvg lows subjectively.
Happy Trading,
K.
The current candle is bullish for approximately 1h.15 minutes from its open to the 4-hourly candle kept by the 2035.164 high. So we want the price to remain below that high.
The price movement is bearish from the resistance level, and we hope to see a bearish pullback soon. Meaning 2024.14 is significant, it's a preferable area of bearish interest because it is recognizable for the lows there.
2009 is the first potential target for a bias of 1985, and if the price goes above 2035, then the setup will need reevaluation.
footnote :
* The price is consolidating bearishly from the 2041–2021.43 range. Some attention to the demand zone in 1995–1990 if the price is to go below the 2009 target.
Summary :
Overall, the trend is bullish from the low of 1988.897 and couldn't rise above the 2044.344 for three days to the current candle in the daily chart, weakening towards fvg lows subjectively.
Happy Trading,
K.
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