Kauffmen FX - Gold Spot Price Analysis (XAU/USD)
In this analysis of the Gold Spot price against the US Dollar (XAU/USD) on a daily time frame, the chart highlights key levels and zones. The primary resistance zone is identified between 2,408.606 and 2,383.494, suggesting a potential reversal area if the price fails to break through. The buy-side liquidity (BSL) is marked at 2,431.644, while the sell-side liquidity (SSL) is targeted at 2,229.055. The recent uptrend approaching the resistance zone indicates a possible bearish reversal, with a projected price drop aiming for the SSL level. This analysis suggests considering a short position if rejection signs are evident in the resistance zone, with a stop-loss above the BSL level and a take-profit around the SSL level.
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