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Weekly XAUUSD Forecast (29/5-2/6)
Gold Spot / U.S. Dollar
Weekly XAUUSD Forecast (29/5-2/6)
By bearishbullishdeaftrader
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May 28, 2023
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May 28, 2023
A potential gold breakdown several times in recent weeks, with the March 21st trend line being the trigger for a short.
XAUUSD closed below that trend line on May 16th.
Gold has since closed below $1,960, which served as support for a few days but failed on Thursday.
Friday retested the level as new resistance, so that will be one to watch next week, as any sustained break above opens up $1,980.
We also have a trend line from early November to keep an eye on near $1,935.
That’s a massive support for bulls as a failure there opens up levels like $1,920, $1,885, and potentially lower.
Trend Analysis
bearishbullishdeaftrader
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