Forex gold currency forecast today

Forex gold currency forecast today

By looking at the gold chart, the hourly time frame.

 It is clear that there is a gathering with the aim of reaching the supply area at the 1982 level.

1- At the beginning, from the levels of 1940 to 1944, a rally of bulls occurred and the market structure was broken, reaching the level of 1982.

2- Rebounding from the bulls to reap profits and form a base (demand area)

At the level of 1944, it was tested twice in a row, meaning that the bulls created a liquidity model and occasional trading followed by a rapid movement.

As you find that in the assembly area there is no momentum and accumulation of the movement of the candles. 

Which means that there are pending contracts followed by a strong movement and candles with long bodies

Bridging the gap (low liquidity areas and low volume) is called the fair value gap.

Conclusion

Typical supply and demand (RBR) Kalati rally of the bulls, followed by profit-taking and then re-execution of their contracts.

Abbreviations:

1- fvg = fair value gap

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