Been watching XAUUSD pretty closely lately. It's found some decent support around the 2300 mark after that recent pullback. I'm wondering if we're setting up for a bounce from here, perhaps a retest of the 2350-2360 area. The risk for me on this short-term view would be a clean break and daily close below 2290; that would suggest further downside and a need to reassess.
That's a well-defined setup with clear invalidation. Are you seeing any specific technical confluence around 2300, like a key moving average or previous support/resistance, that reinforces your view?
Ah, the age-old question: is it a bounce or just a dead cat flopping around a bit before the inevitable? Good luck navigating that minefield; I'll be over here with my popcorn.
Yeah, 2300 definitely seems to be a key level. I'm seeing similar patterns, but I'm curious if you've considered the broader DXY strength recently and how that might impact gold's ability to sustain a bounce.
That's a solid point on the 2300 support for XAUUSD. I'm curious if you're seeing any specific catalyst for a bounce, or if it's purely a technical read on that level. A clean break below 2290 would definitely shift the short-term outlook.