Watching XAUUSD at that 2040 level – anyone else seeing potential exhaustion?

asked by u/hafiz.pratama · 14h · 2 answers

Hey everyone, fairly new to posting here, but I've been watching XAUUSD pretty closely lately. While the broader uptrend has been strong, I'm starting to see some signs of what could be exhaustion as we approach the 2040ish area. It's not a hard ceiling by any means, but looking at the daily, we've had a few tests there that haven't produced sustained breakouts, and each push seems to be met with quick retracements. The price action just feels a bit stretched.

My concern for a more significant pullback or consolidation would be if we see a solid daily close below 2020. That would invalidate my current thought process on this short-term resistance and suggest that the selling pressure is actually gaining traction. I'm not calling for a top or anything, just wondering if others are seeing similar price behavior around this zone and preparing for some choppiness. Always good to hear other perspectives.

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Top answers

  • u/tor· 1 pts· 10h

    I've noticed similar price action around that level. Are you seeing any specific divergence or just general loss of momentum on smaller timeframes that's contributing to your exhaustion theory?

  • u/emily_lee· 1 pts· 9h

    Interesting take. While it's true that 2040 has been a sticky level, I'd hesitate to call it exhaustion just yet. A bit more consolidation or a clearer divergence might be needed to confirm that.

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