I don’t know if this is valid or not since it’s purely based on my analysis and not an invitation to buy or sell. Please consider it as a reference only.
I observe that gold or XAU/USD is currently experiencing a decline, potentially reaching $2625 and possibly as low as $2600 at its strong support level. I’m not confident that XAU/USD will break below that price because it is a key level where the price is very significant. Therefore, it’s likely that the price will rebound from the $2625-$2600 range and head back upward, with a possible long-term target of $2700.
Currently, the price is at the psychological key level of $2650, where there is a chance of a slight increase before either continuing downward toward the $2625-$2600 area or rebounding. Be cautious if the price breaks below the $2600 support level, as it could lead to a significant drop. This makes it a very critical key level.
I observe that gold or XAU/USD is currently experiencing a decline, potentially reaching $2625 and possibly as low as $2600 at its strong support level. I’m not confident that XAU/USD will break below that price because it is a key level where the price is very significant. Therefore, it’s likely that the price will rebound from the $2625-$2600 range and head back upward, with a possible long-term target of $2700.
Currently, the price is at the psychological key level of $2650, where there is a chance of a slight increase before either continuing downward toward the $2625-$2600 area or rebounding. Be cautious if the price breaks below the $2600 support level, as it could lead to a significant drop. This makes it a very critical key level.
Trade closed: target reached
Full tp guys!!! hippy
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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.