FX.co ★ XAU/USD, GOLD

XAUUSDHello traders! The linear regression channel on the 15-minute chart is pointing upwards, indicating the sentiment of buyers who are looking to push the price higher. Only the bears are showing activity by pushing the price below the lower channel boundary at 4142.09 to 4137.74. This could potentially signal a decline towards the level of 4038.74, where sellers will encounter strong resistance from buyers. There is an opportunity to sell until the level of 4038.74, where it will be necessary to close the sales or at least secure the order by moving it to breakeven. The intention is to hold the selling position for a break below the level of 4038.74 and further development of the bearish trend. However, the positioning of the hourly channel may pose a challenge for the downward movement.

On the hourly chart, the linear regression channel is pointing upwards, indicating buyer activity. The H1 channel takes precedence over M15. Reaching the lower part of the channel, specifically the level of 4038.74, should be accompanied by the presence of strong buyers. The current linear regression channel on the M15 chart suggests corrective action at the moment. Following this, buyer activity is expected to increase. If the market holds at the level of 4038.74, it would be more appropriate for me to look for a buying entry point. The target will be the level of 4148.10, where the market situation could sharply shift towards bearish, based on the presence of an active seller in that area who will try everything to break the bullish trend.