This trend continued during the U.S. trading session. OANDA by AstronautPioneer: XAUUSD — TradingView

1. Price trend line

Downtrend Line (Red Channel)

The price is clearly moving within a descending channel.

The upper line of the channel: acts as dynamic resistance. Every time the price touches it, it forms a lower high → the main trend remains down.

Channel bottom line: Acts as dynamic support. Prices are currently approaching a testing point. A break above this line would open the way for a more dramatic downtrend.

2. Resistance Zone
Resistance line 1 (dark blue area 4.110 – 4.130)

It is a combination of multiple signals, including:

Exponential Moving Average (EMA)

front area

Above the downtrend line
→ This area represents a relatively high likelihood of selling pressure.

Resistance line 2 (4.150 – 4.165)

It corresponds to the 0.5 – 0.618 Fibonacci retracement level of the previous downtrend.

If the price breaks above the downtrend line, it will move higher. This area will become an important correction point.

3. Support area
Support 1 (Zone 4,020 – 4,040)

Right at the previous low.

It is located near the lower trendline of the channel.
→ A break below this level would confirm the extension of the downtrend.

Support 2 (Fibonacci extension 1.618 – 2.618)

The deepest level is 3,960 – 3,980.
→ This is a strong support level. There is a good chance that prices will rise.

4. Fibonacci Sequence

The latest fixes reach the following levels:

0.382 – 0.5 – 0.618 → indicates a possible downward trend.

Fibonacci Extension:

1.618 (≈ 4,057) → short-term goal

2,618 (≈ 3,960) → This is a big target if the price continues to fall.

Buy gold: 4007 – 4005

Stop loss: 3995
Take profit: 100-300-500 points

Sell ​​gold: 4107 – 4109

Stop loss: 4117
Take profit: 100-300-500 points