Will XAUUSD Bounce or Slide Tomorrow!
Hello traders!
On Monday, the market consolidated, failing to break out of its range. Today, with the price currently at 2642, we may see a dip into a strong buying zone before a potential bounce to the trend line at 2655. This level has been respected twice before, so a break above it could trigger further upside. If so, we'll be watching two key zones above: a relatively weak resistance area at 2662-2664, which the market may overcome easily, and a more formidable selling zone at 2668-2672, where prices might experience fakeouts to trap sellers. However, given the current market dynamics, sellers appear to be in control, so a failure to break the 2655 level could lead
to a sell-off down to 2628.
Follow me for more insights or like this idea!
Remember, this is for educational purposes only, so always do your own analysis before making trades!
On Monday, the market consolidated, failing to break out of its range. Today, with the price currently at 2642, we may see a dip into a strong buying zone before a potential bounce to the trend line at 2655. This level has been respected twice before, so a break above it could trigger further upside. If so, we'll be watching two key zones above: a relatively weak resistance area at 2662-2664, which the market may overcome easily, and a more formidable selling zone at 2668-2672, where prices might experience fakeouts to trap sellers. However, given the current market dynamics, sellers appear to be in control, so a failure to break the 2655 level could lead
to a sell-off down to 2628.
Follow me for more insights or like this idea!
Remember, this is for educational purposes only, so always do your own analysis before making trades!
Penafian
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