• Dec 12, 2024
  • Trade ideas

XAUUSD: Rising Channel

XAUUSD, H4

XAUUSDH4.png

XAUUSD navigates within an ascending channel and tests the crucial resistance at the 2720 level.

The MFI and RSI oscillators are in the overbought zone, giving a signs of correction for the asset.

  • If the price breaks above the 2720 resistance, it will rise to 2758 level.
  • However, if XAUUSD bounces from the 2720 resistance, the asset may fall to 2665.
TRY TRADING NOW

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

Share with friends:

Author: Timur Yurdagyul