Categories: Technical analysis

Gold Wave Analysis – 4 April 2025

Gold: ⬇️ Sell

– Gold broke daily up channel

– Likely to fall to support level 3000.00

Gold recently reversed down from the resistance level 3150.00 (which formed the daily Bearish Engulfing) and broke the sharp daily up channel from February.

The breakout of this up channel added to the bearish pressure on Gold – accelerating the active downward correction to the higher-order impulse wave (3) from November.

Gold can be expected to fall to the next round support level 3000.00 (which stopped the previous short-term correction iv).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: gold

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