Gold is rebounding from the 0.618 Arc and trading between the 0.5 Arc and the 0.618 Arc, according to an Arc Cycle Analysis of the 1h chart. The analysis calls the market bias neutral and sets targets at 4,118 and 3,998.
XAU/USD is rebounding from the 0.618 Resistance Arc on the 1h chart and now trades between the 0.5 Arc and the 0.618 Arc within the current Arc Cycle. The next directional move depends on how price behaves between those two boundaries.
The analysis lists the market bias as neutral, with a preferred scenario of two-way navigation within the current Arc range. It puts the cycle in a mid-cycle migration phase.
Two targets frame the outlook. If the market breaks back above the 0.618 Arc, the next target is 4,118. If the rebound off that resistance arc continues and price forms a new lower low, the target is 3,998.
However, no signal has been confirmed yet. The preferred approach is to wait for a clear reaction at the Arc levels before anticipating the next move.
Source: Investing.com
Trading involves risk.
Risk Disclaimer
