CHART BREAKDOWN XAUUSD: Key Levels, Targets and Thoughts!

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Brief Description🖊️:

The chart provides insights into critical market levels, emphasizing an essential supply zone (low-risk sell zone) spanning from 2347 to 2349. Additionally, two medium-risk sell/buy zones between 2335-2337 and 2320.5 -2317.5, respectively, are highlighted.

Things I Have Seen👀:


Important Supply Zone🟢: Identified between 2347 and 2349, serving as a low-risk sell.

Medium-Risk Sell Zone🟠: Noted between 2335 and 2337, suggesting another area with moderate risk for potential selling positions.

Medium-Risk Buy Zone🟠: Noted between 2320.5 and 2317.5, suggesting another area with moderate risk for potential buying positions.


Bullish Targets📈:

2323: Possible retracement area.
2330: Possible retracement area.
2335: Possible retracement area.
2346: Significant supply zone.
Ultimate Target: 2364- Liquidity area.


Bearish Targets📉:

2345: Possible retracement area.
2340: Possible retracement area.
2330: Possible retracement area.
2321: Essential Demand Zone
Ultimate Target: 2315- Laying Low Liquidity



What's Important Now❗
Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market.

Penafian

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