XAUUSD entered an adjustment phase after a recent rally. The 3000 - 3030 range is crucial now. 3000 holds strong support, seeing buying interest on approach. 3040 acts as short - term resistance.
The uptrend persists. A break above 3040 likely leads to new highs, spurred by geopolitical tensions, monetary stimulus hopes, or a weakening dollar. Conversely, a drop below 3000 ends the uptrend. Market sentiment may turn bearish with positive data, a stronger dollar, or eased geopolitical risks.
In short, XAUUSD's future hinges on breaking 3040 or falling below 3000. Traders should watch this range and adjust strategies accordingly.
The market has been extremely volatile lately. If you can't figure out the market's direction, you'll only be a cash dispenser for others. If you also want to succeed，Follow the link below to get my daily strategy updates
The uptrend persists. A break above 3040 likely leads to new highs, spurred by geopolitical tensions, monetary stimulus hopes, or a weakening dollar. Conversely, a drop below 3000 ends the uptrend. Market sentiment may turn bearish with positive data, a stronger dollar, or eased geopolitical risks.
In short, XAUUSD's future hinges on breaking 3040 or falling below 3000. Traders should watch this range and adjust strategies accordingly.
The market has been extremely volatile lately. If you can't figure out the market's direction, you'll only be a cash dispenser for others. If you also want to succeed，Follow the link below to get my daily strategy updates
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Related publications
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.