XAUUSD - Not quite the golden breakout yet, is it?

asked by u/fatima98 · 8d · 3 answers

Been watching $XAUUSD with a hawk's eye, and while the sentiment feels bullish across the board, that 2075-2080 level is proving to be a stubborn brick wall. We’ve bumped our head there a few times now, and each rejection, even a small one, adds a bit more credence to it as a resistance zone. My eyes are on whether we can actually get a convincing daily close above 2080 – not just a spike. Without that, I'm thinking we're still ranging, perhaps looking at a retest of the 2030-2040 area. The risk here, for any immediate bullish thesis, is a solid break below 2030. That would invalidate the current higher-low structure we've been building and likely send us looking for support closer to 2000. It's always fun watching gold, the ultimate drama queen of the markets.

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Top answers

  • u/bsantoso· 1 pts· 8d

    It's interesting you mention the 2075-2080 level. Do you think a convincing break above that would signal a strong continuation, or could we still see a retest before a more sustained move upwards?

  • u/jhernandez· 1 pts· 8d

    It's a fair point regarding the daily close. Intraday spikes above resistance often fade without follow-through, leaving many trapped. What kind of volume are you looking for on a potential breakout candle to confirm conviction?

  • u/arslan_mehmet· 1 pts· 8d

    That 2080 level is clearly significant. A daily close above it is crucial, but I'd also want to see follow-through the next day to confirm it's not just a false break.

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