🔰 Pair Name : XAU/USD
🔰 Time Frame : 15mins
🔰 Scale Type : small Scale
🔰 Direction : SELL THEN BUY
This technical analysis focuses on Gold's 15-minute chart and aims to provide insights on optimal buying points and price movement predictions. As mentioned in a previous post, Gold has already surpassed the inverted head and shoulder neckline, indicating a breakthrough of the institutional buy order. This indicates an opportunity to address the significant market imbalance above. For further details, please refer to our previous post.
Currently, Gold's price is undergoing a retest of the 1-hour demand zone. By zooming into the 15-minute timeframe, we observe that the price is on the verge of retesting two demand zones between the 1930-1927 range. We anticipate a bullish movement in Gold, starting from the 1927 area, with the intention to fill the market imbalance above. Our expectations include a potential return to the daily supply zone around the 1960 area.
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