FX.co ★ Trading Signal for XAU/USD on June 29-30, 2022: key level $1,832 (bearish channel)

On the other hand, a close on the 4-hour chart and a sharp break above 1,835 could be the start of a new uptrend and we could expect the price to reach the 200 EMA located at 1,846. Gold could even reach the level around 1,875 of 4/8 Murray.

Our trading plan for the next few hours is to buy XAU/USD if it consolidates above 1,835. Conversely, below this level, there will be a good opportunity to sell with targets at 1,820 and 1,812.