XAUUSD As we announced in our previous commentary, if price stays above the key level of $2748-50 support area, the next target could be $2790 or even record highs.
What scenarios do we have?
As market breaks the previous low and consolidates above the support area, which gives the buying indication towards 2800 ATH.
At moment gold didn't gives any candles which shows that buying are limited, if market moves towrds ATH wait for the rejection and take sell trade on weekly closing.
On the other hand, market has to respect the previous support 2763 which didn’t retest yet, although 2770 also consider tough challenge
What scenarios do we have?
As market breaks the previous low and consolidates above the support area, which gives the buying indication towards 2800 ATH.
At moment gold didn't gives any candles which shows that buying are limited, if market moves towrds ATH wait for the rejection and take sell trade on weekly closing.
On the other hand, market has to respect the previous support 2763 which didn’t retest yet, although 2770 also consider tough challenge
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.