XAU/USD | Gold Short-Term Bounce After Liquidity Grab!

Feb 5

By analyzing the #Gold chart on the 30-minute timeframe, we can see that after our previous analysis, price moved exactly as expected and first corrected down to $4,790. After reaching this key level and sweeping the liquidity below it, gold turned bullish again and is now trading around $4,850.

If price can stabilize above $4,839, we can expect further upside in gold. The next potential targets for this move are $4,876 and $4,913.

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Best Regards , Arman Shaban

Feb 6

Trade active

By analyzing the #Gold chart on the 30-minute timeframe, we can see that price moved exactly as expected yesterday and hit the $4,876 target, even extending up to $4,907. This move delivered more than 580 pips of profit. After reaching $4,907, gold corrected sharply and dropped to $4,655.

Once price reached this key demand zone, strong buying pressure stepped in and pushed gold back above $4,900. Currently, gold is trading around $4,883. Now the key question is whether gold will be rejected from this level again or not. If price does not get rejected here, we can once again expect a move toward levels above $5,000. This analysis will be updated.