Gold Price Forecast: Resistance at 0.618 Arc, Possible Slide to $4,415
Gold’s bullish momentum has faded at the 0.618 resistance arc on the 30-minute chart, with arc-cycle analysis pointing to a potential decline toward $4,415.
XAUUSD
According to Arc Cycle Analysis applied to the 30-minute chart, XAU/USD is testing the 0.618 Resistance Arc within the current cycle. Bullish momentum has faded near that boundary, indicating that the upper arc is still capping upside.
The setup points to a potential decline toward $4,415 if the resistance zone continues to hold.
Key levels:
- Resistance: 0.618 arc boundary
- Downside target: $4,415
Source: FXStreet Forex News