XAUUSD, H4
XAUUSD is currently testing the 2418 resistance level, aligned with the 38.2 Fibonacci ratio while navigating a trendline. The Momentum oscillator crosses the 100-line, suggesting a potential bullish momentum.
XAUUSD, H2
On the 2H timeframe, William’s Lips line (yellow) breaks the Jaws (blue) line up and the price action shows signs of breaking above the nearest upper fractal resistance, also indicating potential upward momentum.
- If the price breaks above the 2418 resistance, bullish momentum could drive it up to 2440.
- Conversely, if bearish pressure takes hold, the price may retreat to 2390.