🔰 Pair Name: GOLD/XAUUSD 🔰 Time Frame: 1H/4H 🔰 Scale Type: SMALL Scale 🔰 Direction: LONG/BUY
📈 Analysis Update - Gold Forecast 📉
🔍 Current Status: Gold has successfully reached the critical daily Fibonacci level of 61.8%. From a technical perspective, we are anticipating an imminent retest scenario.
🔮 Projection: The forecast suggests that a retracement is in the cards, with a potential target zone spanning between 1944 and 1951. This retracement is primarily driven by the need to absorb the liquidity that was generated in the market yesterday, thereby realigning the market balance.
📊 Strategy: Traders are advised to closely monitor the price action within the projected range and assess the strength of the retracement. This period could offer an opportunity to capitalize on short-term moves.
As always, remember to manage risk effectively and stay attuned to the evolving market dynamics. Happy trading! 📈📊📉
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