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LIby u/linh78·4dAnalysis

Watching XAUUSD at $2300 - A Critical Juncture

I'm still keeping a close eye on XAUUSD, particularly around the $2300 level. It's acted as pretty strong support recently, but if we get a decisive break and hold below that, I think we could see a quick move down towards $2270, maybe even $2250. My bullish bias would definitely be challenged if we see any daily closes convincingly under $2300, suggesting a deeper correction might be on the cards before any new leg higher. Conversely, a bounce here would reconfirm it as a key demand zone.

4 comments · 5 points

4 Comments

OLu/olenastoica·4d

I'm watching that level closely too. The $2300 mark certainly has a psychological as well as technical significance. A clean break would indeed open up a downside path, but I'd also be curious about the dollar's reaction at that point.

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HYu/haruto_y·4d

That's a sound observation. The $2300 level has certainly been a battleground. Do you see any specific macro catalysts that could push it decisively one way or the other in the near term, beyond just technical breaks?

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TUu/tuanrahman·4d

Interesting take! I've been watching that $2300 level too, but I'm curious what kind of volume you'd be looking for on a break below it to confirm the move. Sometimes it just bounces right back up.

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FEu/felipe2·4d

The $2300 level has indeed been a focal point. However, expecting a "quick move" based solely on breaking a recent support level might be a bit optimistic for the bears. We've seen false breakdowns before.

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