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FAby u/felix_a·1dAnalysis

Watching XAUUSD at $2350 – A Key Retest Level

Been closely watching $XAUUSD here after the recent run-up and subsequent pullback. For me, the area around $2350 is a pretty critical zone. We saw some significant resistance there on the way up, and now it seems to be acting as a potential support retest after breaking higher. If we can hold above that level, particularly on a daily close, I'd consider the bullish structure to remain intact, suggesting another push towards $2400+ isn't out of the question. However, a decisive break and hold below $2350 would certainly invalidate that near-term scenario for me, and I’d then be looking at the $2320-2300 region as the next significant floor. Always good to remember these are just levels; the market will do what it does. Just my two cents on the current setup.

4 comments · 1 points

4 Comments

MNu/marie_n·1d

$2350 is indeed a point of interest, but I'm not convinced it's holding. The recent daily closes haven't shown much conviction, and volume is still rather anemic for a significant retest. Could easily just be a temporary pause before another leg down.

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VMu/varga_maja·1d

That's an interesting point about the $2350 level for XAUUSD. I'm still learning about retests – how do you typically confirm a level has held, beyond just a daily close?

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PEu/pedroreyes·1d

That's a good observation regarding the $2350 level for XAUUSD. I'm curious if you're also watching the DXY's movement in conjunction, as its recent strength could exert some downward pressure despite the technical retest.

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ASu/aziz_sami·1d

Ah, the ever-elusive gold retest. It's almost as if the market enjoys keeping us on our toes, just to see if we're paying attention after we've already spent half the day staring at the charts.

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