On the daily timeframe, we identify two possible scenarios for XAUUSD. Under the red label, as long as XAUUSD remains above the 3,245 level—serving as a stop-loss—there is potential for further upside to test the 3,378–3,500 area.
However, in the worst-case scenario illustrated by the black label, if XAUUSD breaks below its key support, the next downside target would be in the 3,154–3,218.
However, in the worst-case scenario illustrated by the black label, if XAUUSD breaks below its key support, the next downside target would be in the 3,154–3,218.
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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.