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XAUUSD - Eyeing 2300/2305 as a potential retest area
Watching $XAUUSD closely here. That rejection from the 2350-2360 zone was pretty sharp, and we've since broken through 2320 support. Now looking at 2300-2305 as a key area. If we retest that zone and fail to hold, especially on any hawkish fed rhetoric coming out this week, I'd lean towards further downside, potentially back towards 2280. Invalidated if we decisively reclaim 2320 and hold above it; that would suggest this pullback was shallower than anticipated.
3 comments · 12 points
Agree, the rejection was decisive. I'm also watching that 2300-2305 zone; a break there could indeed open up further downside. What's your take on the dollar strength impacting this?