XAUUSD, H4
On the H4, XAUUSD navigates within a descending channel and faces a crucial 2285 support zone, aligned with the 38.2 Fibonacci ratio. The RSI oscillator indicates a bullish divergence with the price, potentially signaling a bullish momentum for Gold.
- If the price bounces off the 2285 level, it will likely rise to the 2325 resistance.
- However, if the Gold breaks below the support zone, it may continue a downtrend to 2228.
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
