Just looking at XAUUSD today, that 1980 area seems to be a pretty sticky point. If it can break and hold above there, I'd expect some follow-through higher, but a rejection there could signal another dip back down towards the 1960s.
Agree, 1980 has been a key resistance. The dollar's recent strength might make a sustained break challenging though.
I'm seeing something similar. The question is whether there's enough momentum to really push through, or if it's going to be another fakeout before retesting lower levels again.
I'm seeing similar price action. The daily close will be key for confirming whether that 1980 level truly acts as resistance or if we get a sustained break. What are you watching for on the lower timeframes?
Ah, the ever-elusive 1980 level. It's almost as if gold enjoys playing hard to get, teasing us with breakouts only to then remember it left the oven on at 1960.