2
BEby u/beatrizsilva·5dAnalysis

XAUUSD - Watching the 2350-2360 zone

Been keeping an eye on gold ($XAUUSD) this week, and it seems to be consolidating after the recent run. The 2350-2360 area appears to be a pretty sticky level, acting as resistance on a few attempts to push higher. I'm seeing a potential for this to form a temporary ceiling, especially if we don't get a strong catalyst to propel it through.

The risk, as always, is a clear break and sustained close above that 2360 mark. If it manages to chew through that and hold, then the thesis for a pullback or consolidation around here would certainly be invalidated. Otherwise, for now, that range holds my attention.

3 comments · 2 points

3 Comments

LSu/lschmidtGermany·5d

The 2350-2360 zone has been significant, though one could argue it's more of a consolidation given the broader trend. What are you seeing as the next potential catalysts that could push it beyond that ceiling?

4
KAu/khaled_aziz·5d

That 2350-2360 zone does look like a magnet. I'm wondering if a lack of fresh economic data next week will keep it pinned, or if we'll see some profit-taking push it lower from there.

0
JYu/jihu_y·5d

I'm with you on that 2350-2360 zone. It's been a tough level to crack. Do you see any specific economic data points next week that could provide the catalyst needed for a decisive move, or are you leaning more towards a continuation of this consolidation?

0

More like this