Target 2690
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Supply and Demand Zone Analysis;
After analyzing the XAUUSD market, I've identified key supply and demand zones that are likely to influence price movement.
Current Market Situation;
The market price is currently trading near the 2nd demand zone at 2664, having already bounced off the first demand zone at 2657.
Trade Setup;
With the price trading at 2668, I'm recommending a buy position targeting the supply zone at 2696.
Gold Buy Now - Entry: 2665
- Stop Loss: 2655
- Target: 2690
Analysis Rationale;
The price is showing signs of a potential bullish move, having already bounced off the first demand zone. With the 2nd demand zone nearby, I'm expecting the price to continue its upward momentum towards the supply zone.
After analyzing the XAUUSD market, I've identified key supply and demand zones that are likely to influence price movement.
Current Market Situation;
The market price is currently trading near the 2nd demand zone at 2664, having already bounced off the first demand zone at 2657.
Trade Setup;
With the price trading at 2668, I'm recommending a buy position targeting the supply zone at 2696.
Gold Buy Now - Entry: 2665
- Stop Loss: 2655
- Target: 2690
Analysis Rationale;
The price is showing signs of a potential bullish move, having already bounced off the first demand zone. With the 2nd demand zone nearby, I'm expecting the price to continue its upward momentum towards the supply zone.
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