#xauusd #gold

XAUUSD- AFTER VOTE OF THE PRESIDENT OF THE AMRICAN

Initial Reaction to Election Outcome, It suggests that gold prices dropped by 3.46% following Trump's win, indicating an immediate market response likely due to investor sentiment or economic expectations associated with his presidency.

Current Trading Position, The current price is below an “ascending channel” (typically a technical pattern indicating a trend), which could signal a weakening upward trend. However, it remains within a “demand zone,” where buying interest could support prices.

Demand Zone and Support, As long as gold stabilizes above the $2,657 - $2,638 demand zone, as long as gold stabilizes above the $2,657 - $2,638 demand zone, there is a potential for prices to rise back up. This zone acts as a support level, where enough demand could prevent further declines.

Upside Target (Supply Zone), If prices hold above the demand zone, there is an expectation of an increase toward the $2,732 - $2,747 supply zone. This is seen as a resistance level where selling pressure may limit further upward movement.

Downside Risk , If a 4-hour candle closes below the demand zone, a further decline is anticipated, potentially pushing prices down to the next demand zone between $2,618 - $2,605.

Overall Trading Range , The analysis concludes with a broader price range for gold between $2,790 (upper limit) and $2,605 (lower limit). This range outlines the expected volatility in gold prices.
#xauusd
#xauusd #gold