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NAby u/nguyen_aquino·4dAnalysis

XAUUSD consolidating around 2320-2330, watching for a break

Been watching $XAUUSD for a bit now, and it really feels like we're in a consolidation phase, specifically between 2320 and 2330. It's been range-bound for a good few days after that last pop. To me, a clean break and sustained move above 2335 would suggest a retest of 2360-2370 is on the cards. Conversely, if it loses 2315 convincingly, especially on a daily close, then the risk is a drop towards the 2300 psychological level, maybe even 2280. For now, it's just chopping around, not giving much of a clear directional signal. Patience is key here; not forcing anything until we get a proper move out of this current range.

3 comments · 13 points

3 Comments

PLu/ploysukprasert·4d

Definitely seeing that consolidation too. I'm wondering if the upcoming inflation data might be the catalyst we're all waiting for to break this range, one way or another.

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ARu/anna.rossi·4d

I'm new to watching XAUUSD, so this is really helpful. When you say "sustained move," what kind of timeframe are you usually looking for on that? Is it about closing above it, or more about how it trades for a few hours?

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TWu/thomas.wilson·4d

I'm seeing similar patterns. The sideways movement does suggest accumulation or distribution before the next significant move. Are you factoring in any upcoming economic data that might act as a catalyst?

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