XAUUSD Bullish momentum
Updated
XAUUSD is currently testing last week's high, with a potential for a short-term pullback. On the 4H timeframe, the market closed bullish, reflecting strong momentum. After bouncing off the 2550 support zone, it may continue rising, potentially surpassing the 2600 level, as resistance appears minimal aside from key round numbers. Following the FED rate cut, the price could eventually target the 3000 level. Any short-term pullback presents a buying opportunity. The immediate target is resistance at 2605
Trade closed: target reached
Price moved straight up. Over 20 USD increase to target level and over 50 USD increase in total!
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