XAUUSD – GOLD 4H Timeframe Technical Analysis

Starting off on the Daily time frame to understand the overall trend, you can see that price has recently made a new high around $1550 zone and now have started to Flag or consolidating close its ema’s.

At the beginning of October we saw Daily price testing its 50 EMA and bouncing off that support level. Adding further confluence to our Bullish Bias

On 4H timeframe you see that price has been consolidating and finding resistance around $1510 price zone. Also supporting this price action are all of the key EMA’s curling up rite below the current price action.

We will be looking for a break above the $1510 price zone to enter a Long trade on Gold

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