Weekly Forecast: Gold Likely to Move Toward 4500The outlook for XAU/USD (Gold) is currently positive. The price could rise from around 4,295, with potential for movement down to 4,180 if there is a temporary pullback. The focus is on possible further increases towards 4,500, based on current momentum.
The market has been moving upward, showing signs of strength with consistent upward movements. Recently, the price moved out of a high-activity zone, indicating potential for continued growth. This suggests the price may keep pushing higher as the upward trend remains intact.
The gap in price suggests there is room for growth before the market hits the next major level. Price action and trendlines support the idea of the market moving further upward. With the current support level holding and a clear path ahead, there is an opportunity to capture the next phase of the move.
If the price dips, there is a lower level around 4,180 where it could find support and potentially reverse. However, with the trend in favor of higher prices, the market may continue upward towards 4,500.
This setup offers a favorable risk-reward ratio, with potential for significant movement over the next period. It’s important to stay patient and observe how the price moves to adjust your approach accordingly.
