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DPby u/devries_pablo·1moAnalysis

XAUUSD - Watching that 2300-2310 zone closely

Been following XAUUSD here for a bit, and that 2300-2310 area is really standing out to me. We've seen some decent bounces off it recently, and it's looking like a pretty significant psychological and technical level. On the daily, there's a confluence of previous support/resistance, and it seems to be holding as a key pivot. The market feels a bit on edge with the moves in equities ($SPX500 and even $JP225 showing some choppiness) and the broader economic picture still very much up in the air.

My take is that a clean break and sustained close below 2300 could open the door for a deeper correction, potentially towards the 2250-2260 area. Conversely, if it can continue to hold and build a base there, we might see it make another run towards previous highs. The risk for my read here is a sudden, sharp move in bond yields or a significant shift in central bank rhetoric that catches the market off guard. Always got to be mindful that even the best-looking levels can be invalidated quickly in this environment.

3 comments · 1 points

3 Comments

HCu/hidayat_carlo·1mo

That's interesting. I've been watching Gold too but haven't really focused on that specific zone yet. What makes it a psychological level for you?

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RAu/rafaelribeiro·1mo

I'm with you on that zone. Do you think a confirmed break below 2300 would lead to a rapid unwind, or is there likely to be decent support around 2280-2290 from those earlier accumulation points?

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CHu/chrislee·1mo

I'm with you on that zone. I've been seeing similar action, and the confluence on the daily chart is pretty compelling. Are you seeing any specific candlestick patterns forming around those levels that are catching your eye?

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