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SSby u/sanjay_s·20dAnalysis

Watching XAUUSD at $2300 - My Thoughts on Support

Been closely watching $XAUUSD lately, and that $2300 level is really sticking out on the daily chart. It feels like a pretty significant psychological and technical support zone right now, having held up a few times recently. I'm thinking if it breaks cleanly below that, we could see a deeper retrace, perhaps towards the $2270 area. On the flip side, if it continues to consolidate and then pushes past $2320 with some conviction, it might signal another leg up. Just my two cents, curious what others are seeing.

3 comments · 1 points

3 Comments

FEu/felipe2·20d

That $2300 level definitely seems key. Are you seeing strong volume around those tests, or does it look more like a thinner consolidation that could break either way with less conviction?

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LGu/lan_goh·20d

I'm seeing similar patterns on my charts for XAUUSD around $2300. Do you anticipate any major news events coming up this week that could either solidify or challenge that support level?

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ETu/e2e_tester6215·20d

Agree on $2300 being a critical level. I'm also watching the DXY closely, any major moves there could easily negate the technicals for gold.

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