Forex Trading Analysis
Hello guys I am going to analyze SP gold versus the US dollar pair let us start the top-to-bottom OT wave analysis inside the daily time frame the trend is up in spot gold daily time frame support is present at 2352.91 of a bearish break below 2352.91 is going to end uptrend in the daily chart of gold versus US dollar
At 4hour time frame price action manages to break below the most recent swing low to me spot gold Trend looks sideways in 4hour time frame
At 1 hour time frame the trend is down in 1 one-hour chart inaday resistance is present at the 2531.59 price level price action is most likely going to drop to print bearish with y double zigzag leg which offers a chance to join the downtrend in Gold a decisive bullish breakout above 2531.59 resistance level is going to end downtrend in 1-hour chart of gold versus United States dollar pair
More specific the red color highlighted area offers a selling opportunity which is the previous wave be of one lesser
