Description:
The 4-hour XAU/EUR chart shows price rejecting a major resistance zone around 3,950–3,970 after multiple failed breakout attempts. Momentum appears weak below resistance, increasing the probability of a bearish continuation. Price is currently hovering near short-term support, with a projected downside target around 3,850–3,846 if sellers maintain control. The descending support trendline also suggests broader bearish pressure remains intact.
Not financial advice
The 4-hour XAU/EUR chart shows price rejecting a major resistance zone around 3,950–3,970 after multiple failed breakout attempts. Momentum appears weak below resistance, increasing the probability of a bearish continuation. Price is currently hovering near short-term support, with a projected downside target around 3,850–3,846 if sellers maintain control. The descending support trendline also suggests broader bearish pressure remains intact.
Not financial advice
Professional Trader | Price Action & Risk Management. Sharing clear trade ideas. Consistency over hype.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Professional Trader | Price Action & Risk Management. Sharing clear trade ideas. Consistency over hype.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.