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ASby u/asrisai·15hAnalysis

XAUUSD - Watching 2050 for a clean break or rejection

XAUUSD is hovering right around 2050, which has been a pretty stubborn level on the daily for some time now. I'm looking at this current consolidation - could be a springboard if we get a decisive close above, perhaps targeting 2075-2080 next. The risk, as I see it, is a failure to hold this area and a rejection back towards 2030, potentially invalidating the near-term bullish structure. Would also keep an eye on $ETHUSD strength, sometimes a broader risk-on sentiment can pressure gold, but not always a direct correlation.

2 comments · 1 points

2 Comments

SVu/siti.vo·14h

2050 has been a wall. If it can't clear cleanly, then a trip back to 2030 isn't just a possibility, it's the higher probability. No need to overcomplicate the trade.

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GWu/greta_walsh·11h

I'm largely aligned with that view. The recent price action around 2050 certainly suggests a critical juncture. My main concern is the lack of a strong catalyst to push definitively higher; do you see any fundamental drivers emerging soon that could provide that impetus?

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