#XAUUSD Quick analysis of gold price trends next week!
Closing the candle on last Friday was a strong bullish candle. I think, next week I think gold price can recover. So, how far will the price of gold increase? Quickly analyzing the H4 time frame, using the price action method I see: The most important keylevel of the downtrend is: 2077-2079. If the price of gold increases, it can increase to that keylevel (which is where the downward wave begins).
Here, there will be 2 scenarios as follows:
1/ If the gold price breaks through the 2077-2079 zone, the downtrend MAY end. I use the word maybe, not certainly. And a new increasing cycle can begin.
2/ If gold price cannot break the 2077-2079 zone, the downtrend of gold will continue.
Therefore, it can be said that 2077-2079 is the most important key next week. I will observe price action in this area.
Some buying/selling areas may need attention next week
Buy:
1/ 2039-2041
2/ 2032-2034
Sell: 2062-2065
I will update detailed plans on weekdays!If you like my analysis please give me a like and join me.