GOLD(XAUUSD) -Weekly Forecast,Technical Analysis & Trading Ideas

💡 Daily Timeframe:

• As the 4CastMachine AI forecasted, the price began its decline towards the $3,000 support.
  
• At the support area of 3000, the up trend line will also prevent further declines.
  
• If this area is broken, the price will decline to the support area of ​​2789.95.
  
• This area, which was previously a major resistance, will become a major support, creating a good buying opportunity.
  
• So, given the long-term uptrend, we can use this area as a long-term BUY ZONE.
  

XAUUSD GOLD
💡 H4 Timeframe:

• Gold started its decline when it hit the 3167 resistance.
  
• The uptrend is broken, and price is in an impulse wave.
  
• This decline will continue, but the support area of ​​3000 and uptrend line could trigger a resumption of uptrend.
  

💡 H1 Timeframe:

• If the price enters the sell zone with a corrective wave, we will wait for the price to reject from that area.
  
• If we see a price rejection from the sell zone, we can sell.
  

H1 Forecast:

1. Correction wave toward the Sell Zone
   
2. Another Downward Impulse wave toward Lower TPs
   

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ForecastCity Support Team