(XAU | USD) Forex Trading Analysis Today | Gold Analysis March 18, 2024 | XAUUSD Analysis

Forex Trading Analysis

Hello Guys I am going to analyze SP gold let us start the top-to-bottom wave analysis inside a daily time frame the trend is up in spot gold daily time frame support is present at 1972.185$ price level price action is most likely going to print a top and I expect a drop in coming trading days uh decisive bearish break below 1972.185$ support area is going to end uptrend in daily chart of gold versus US dollar period

At 4hour time frame price action is printing higher swing highs and higher swing lows to me spot gold Trend looks up in 4hour time frame

At 1 hour time frame the trend is down in 1 hour chart and day resistance is present at the 2195.09$ price level price action is most likely going to drop to print bearish with Y double zigzag league offering a chance to join the downtrend in Gold a decisive bullish Breakout out above 2195.09 $resistance level is going to end down Trend in 1 hour chart of gold versus United States dollar pair

More specifically the red color highlighted the area offers a selling opportunity which is the previous WB of one lesser degree take not you must always trade with money management rules to control risk