XAUUSD Technical analysis for 10 Jan 2024
The overall trend of gold continues to be upward, persisting in the direction it started in October 2022, and the trend has not changed despite passing through temporary corrective periods.
At present, the price is seen reaching the upward trend line at the current price of $2030 per ounce, supporting the technical possibility of further ascent to surpass $2080 per ounce again. We may witness this with the news at the end of the current and upcoming week from the United States.
The following chart illustrates the likelihood of an upward movement due to the upward trend line and horizontal support levels that have proven their strength on the daily timeframe.
The overall trend of gold continues to be upward, persisting in the direction it started in October 2022, and the trend has not changed despite passing through temporary corrective periods.
At present, the price is seen reaching the upward trend line at the current price of $2030 per ounce, supporting the technical possibility of further ascent to surpass $2080 per ounce again. We may witness this with the news at the end of the current and upcoming week from the United States.
The following chart illustrates the likelihood of an upward movement due to the upward trend line and horizontal support levels that have proven their strength on the daily timeframe.
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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.