"XAUUSD H4 Analysis: Key Levels to Watch for Potential Breakouts

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#XAUUSD H4 Analysis

The #H4 bullish candle failed to close above 2427.20 ๐Ÿ”ผ . We had highlighted the area below 2527.20 as a key Resistance & Supply Zone ๐ŸŸ .

However, the price struggled to break and sustain above 2527.20 โŒ, facing solid rejections 3-4 times (as marked on the chart). Now, the price is forming Trendline Liquidity ๐Ÿ“‰.

If #H4 closes bearish below 2500-2494 ๐Ÿ”ป, there's a strong likelihood that the price will drop to our "High Probability Buy Area" ๐Ÿ›’, located around the Fib 0.5% level around 2464-2454. Caution โš ๏ธ is advised when positioning.

On the upside, if #H1 manages to close bullish above 2518.50 ๐Ÿ”ผ, we might witness a high-probability setup that could push Gold to a new lifetime high ๐Ÿฅ‡.

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