It will be an interesting week for XAUUSD.
1. **Key Level 2330**: This level is crucial as it could initiate a chain reaction. A break here would confirm a double bottom "W".
2. **Possible Breakout**: Gold has been in a downward channel since May 20th. A breakout above the blue line would complete the Reverse Head and Shoulders formation at TP level 2365.
Technically, it’s structured for a move to 2365. However, with significant economic news this week, including the Fed Chair's speech on Tuesday, caution is advised.
1. **Key Level 2330**: This level is crucial as it could initiate a chain reaction. A break here would confirm a double bottom "W".
2. **Possible Breakout**: Gold has been in a downward channel since May 20th. A breakout above the blue line would complete the Reverse Head and Shoulders formation at TP level 2365.
Technically, it’s structured for a move to 2365. However, with significant economic news this week, including the Fed Chair's speech on Tuesday, caution is advised.
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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.