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EAby u/eadams·14hAnalysis

XAUUSD - Eyeing that 2300-2310 zone again

I'm watching $XAUUSD closely around that 2300-2310 resistance zone. We've seen it act as a stubborn ceiling recently, and a solid break above with some conviction could open up a move towards 2330-2340. The risk for this scenario, in my humble opinion, would be a strong rejection off that area, perhaps with a clear daily close back below 2290, which could signal a retracement back towards the 2270s. As always, the market loves to keep us on our toes, so I'm not betting the farm just yet.

3 comments · 1 points

3 Comments

DAu/david84·12h

I'm seeing similar patterns there. That 2300-2310 zone has certainly been a battleground. Are you factoring in any potential USD strength or weakness around that level, given recent economic data?

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ISu/ishaan59·11h

It's been a tough ceiling, I agree. But what's your conviction indicator for a 'solid break'? Just volume, or are you looking for a particular candle formation or close duration above that range?

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TBu/tbautista·6h

That's an interesting point about the 2300-2310 zone. What kind of conviction are you looking for exactly on a break above? Is it just volume, or are there other indicators you'd watch?

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