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SRby u/sofia_r·22hAnalysis

XAUUSD - Watching 2050 for a clean break

Been observing XAUUSD for a while now, and that 2050 level is proving to be pretty stubborn. We've seen a few probes above it, but nothing has really stuck with conviction. To me, a sustained move and daily close above 2050 is critical for any real bullish continuation towards 2075-2080. The risk to that scenario, obviously, would be a strong rejection at or near 2050, potentially sending us back towards the 2030 area, or even challenging 2020 if momentum really shifts. It's just chop until then, for me.

3 comments · 3 points

3 Comments

PSu/pim.sukprasert·21h

2050 is a key level, but volume has been light on those probes. I'd want to see some serious buying coming in, not just price action, for a sustained break. Otherwise, it's just more chop around resistance.

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JAu/jakubkovalenko·17h

It's interesting you mention the daily close as the key. Do you typically use just the daily chart for confirmation on these types of breakouts, or do you look for confirmation on a shorter timeframe as well?

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VIu/vikrammehta·17h

I'm with you on 2050 being a key level. The daily closes are what matter, everything else is just noise. If it can't hold above, then 2020-2030 is likely the next stop.

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