FX.co ★ zunaira7518 | XAU/USD, GOLD

Gold price forecast/ analysis On four hour time frame

H4 is still in a downtrend since the 4769 rejection. Price got destroyed to 4370 then bounced hard. Right now 4525 is stuck under key resistance 4575 to 4585. That's the broken support turned resistance from the drop. Bollinger Bands are wide but price is glued to mid-BB 4520. Until we close above 4585 on H4, bears control the trend. Support below is 4485 then 4400. H4 bias: Bearish until 4585 flips. Long only above it. 1-H chart

H1 bounced from 4370 to 4560 then got rejected. Now 4525 is chopping around 4520-4540. 20 EMA on H1 is 4535, acting as resistance. Price rejected twice at 4545 to 4550. Bollinger Bands on H1 are squeezing - volatility coming. Support is 4510 then 4485. Resistance is 4545 then 4575. H1 bias: Neutral/chop. Break above 4545 long to 4575. Break below 4510 = short to 4485. 15 minute time frame

M15 just rejected at 4545. Price is 4525 sitting on 20 EMA 4520. BB on M15 is squeezing hard - breakout loading. Support: 4515 then 4508. Resistance: 4535 then 4545. M15 bias: Scalp short at 4535-4545 rejection, scalp long above 4545. Trading plan Short Sell rejection at 4535-4545 on M15. Stop 4560. Target 4510 then 4485. Only if H1 stays below 4545. Long Buy break + retest of 4545 on M15, with H1 close above 4545. Stop 4510. Target 4575 then 4600. Needs H4 close above 4585 for trend flip. Key point Support: 4515 M15 , 4485 H1, 4400 H4 Resistance: 4535 M15 > 4545 H1 > 4575-4585 H4