Thinking about XAUUSD 1900 level and the downside scenario
Been watching $XAUUSD pretty closely lately, and that 1900 level is really sticking out to me. It's held as a pretty significant psychological and technical barrier multiple times over the past few weeks, acting as both support and resistance. I'm starting to lean towards a retest of that 1900 handle in the coming sessions, possibly even a brief dip below it. If we do see a clear break and sustained close below 1890-1885, I'd consider that a pretty strong invalidation of the more bullish short-term narratives, opening the door for a move down towards 1850-1860. On the flip side, a strong bounce from 1900 with some follow-through could indicate bulls are still in control, but right now, the downside risk around that level seems more compelling to me personally. Just my two cents, always open to other perspectives.
I'm seeing similar patterns. What's your take on the dollar's influence if XAUUSD does test below 1900?