Gold Fibonacci Analysis of (XAU/USD)📊 Fibonacci Levels Overview:
23.6% Level: Minor correction zone, price rejected this area and continued lower.
38.2% Level: Acted briefly as a support but eventually broken.
50.0% Level (~$2,351.6): Currently being tested — a key level. Price is consolidating here.
61.8% Level: If 50% breaks decisively, 61.8% becomes the next major support zone.
📉 Trend Outlook:
✅ Bullish Scenario:
If price holds above the 50% Fibonacci level, we could see a bounce toward 38.2% and potentially back to 23.6%.
Key upside targets: $2,345 – $2,380 zone.
❌ Bearish Scenario:
If the 50% level fails to hold, the price could drop to test the 61.8% Fibonacci level and possibly lower.
Downside target: $2,330 – $2,320.
📌 Conclusion:
Gold is currently at a decision point:
Holding above 50% = potential recovery.
Breaking below = confirmation of a short-term downtrend.
Traders should watch for price action and volume confirmation near the $2,351 level to determine the next move.
