XAUUSD Analysis on H1 Timeframe - 27/12/2023
- Upward Structure: The market is currently showing an upward price trend.
- High Speculative Price: Due to the high speculative price of XAUUSD, this may create selling pressure, hence, prioritizing buy orders (Buy) is not recommended.
- Strong Rejection at 2070: The market is displaying strong signs of rejecting an upward movement at the price level of 2070. This could be a significant price zone that the market is struggling to surpass.
- Potential Correction to 2045: Based on the reaction from the 2070 price level, there is a high likelihood that prices will adjust downward to the 2045 level. This could present an opportunity for traders to place sell orders (Sell) with the target of the price decreasing to this zone.
- High Speculative Price: Due to the high speculative price of XAUUSD, this may create selling pressure, hence, prioritizing buy orders (Buy) is not recommended.
- Strong Rejection at 2070: The market is displaying strong signs of rejecting an upward movement at the price level of 2070. This could be a significant price zone that the market is struggling to surpass.
- Potential Correction to 2045: Based on the reaction from the 2070 price level, there is a high likelihood that prices will adjust downward to the 2045 level. This could present an opportunity for traders to place sell orders (Sell) with the target of the price decreasing to this zone.