XAUUSD
Hello Traders!
What are your thoughts on GOLD ?
Gold is currently oscillating between two key support and resistance zones
Resistance Zone: A significant resistance level is identified around the $2,680 mark. The price has tested this level multiple times and bounced back. If this level is broken and the price stabilizes above it, we could see a further upward movement. You can consider entering a buy position after confirming the breakout.
Support Zone: The key support level is around $2,630. If this support zone is broken and the price stabilizes below it, a drop toward the $2,576 level is likely. In this case, you might look for sell opportunities.
As long as the price is fluctuating between these two zones, it's better to avoid entering trades and wait for a breakout. A break above the resistance signals a buy, while a break below the support signals a sell.
If you found this analysis helpful, don’t forget to like and share your thoughts in the comments! ❤️
What are your thoughts on GOLD ?
Gold is currently oscillating between two key support and resistance zones
Resistance Zone: A significant resistance level is identified around the $2,680 mark. The price has tested this level multiple times and bounced back. If this level is broken and the price stabilizes above it, we could see a further upward movement. You can consider entering a buy position after confirming the breakout.
Support Zone: The key support level is around $2,630. If this support zone is broken and the price stabilizes below it, a drop toward the $2,576 level is likely. In this case, you might look for sell opportunities.
As long as the price is fluctuating between these two zones, it's better to avoid entering trades and wait for a breakout. A break above the resistance signals a buy, while a break below the support signals a sell.
If you found this analysis helpful, don’t forget to like and share your thoughts in the comments! ❤️
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