XAU/USD 4-Hour Time Frame: Gold Exhibits Uptrend Within Parallel Channel
Our technical analysis indicates that gold is trending upward within a well-defined parallel channel on the 4-hour chart. Recently, the price dipped to $2,888, likely due to institutional traders hunting stop-losses. With liquidity now absorbed, we anticipate a bullish scenario, potentially leading to new all-time highs.
This outlook is further supported by the current macroeconomic environment, with inflation concerns and geopolitical tensions driving safe-haven demand for gold. Additionally, the recent weakness in the US dollar may provide further upside momentum for the precious metal.
Our technical analysis indicates that gold is trending upward within a well-defined parallel channel on the 4-hour chart. Recently, the price dipped to $2,888, likely due to institutional traders hunting stop-losses. With liquidity now absorbed, we anticipate a bullish scenario, potentially leading to new all-time highs.
This outlook is further supported by the current macroeconomic environment, with inflation concerns and geopolitical tensions driving safe-haven demand for gold. Additionally, the recent weakness in the US dollar may provide further upside momentum for the precious metal.
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Join Our Telegram Channel For Getting Signals and Analysis👇👇
t.me/Trade_with_Natasha7
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.