4097.90 Buy Limit XAUUSDSafe Place For buy with 30/40 pip Sl And 60/80 pip Tp On XAUUSD is 4097.90, For Now...
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Xauusddirection
Gold Analysis for Jan 2024Following the post NFP movements, gold exhibited significant volatility, oscillating between the defined liquidity zones. The key area of interest is the notable imbalance zone between 2015-1997.
This zone underpins the current market structure, suggesting potential upward movement towards the 2080 and 2090 liquidity areas. The anticipation of price rejection in these regions aligns with a bearish retracement hypothesis, potentially driving prices back to lower zones.
Should gold prices breach the 2090 threshold, the market may witness an initial thrust into the AED 2100 region, followed by a retracement phase. This movement could set the stage for approaching all time highs, subject to market conditions and momentum.
Currently, the market exhibits a balanced sentiment with a slight bullish inclination. This equilibrium presents a possibility of a range bound scenario in the short term, potentially lasting a week. Such consolidation could be strategic for accumulating liquidity on both sides before a decisive breakout.
In summary, two primary scenarios emerge: a range bound consolidation followed by a breakout, or a direct pursuit of either the bullish or bearish paths as outlined.
Traders should monitor these levels and market sentiment closely for indications of the prevailing trend.
