XAUUSD

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Here is our view and update on XAUUSD. Potential opportunities and what to look out for.

Since our last analysis on XAUUSD, gold has dropped from the break of 2678 all the way down to the targeted 2600 (KDZ) Key Demand Zone. We have dug deeper, 2590 to be exact. This is our new KL (Key Level). We are expecting one of the two outcomes.

Scenario 1: BUYS

We are trading above 2590 with failing to break it, and we are starting to see some sellers exhaustion. Gold starts to turn and breaks above 2624 and continues breaking above other key levels.

Scenario 2: SELLS

We broke 2590 and are targeting our next KL (Key Level) 2650. Breaking this key level would result in even deeper pullbacks down to 2530.

The direction for now is unclear until we break our mentioned key levels. Be patient and stay tuned for possible scalps on this pair.



KEY NOTES

- XAUUSD came to our KDZ (Key Demand Zone) 2600.

- XAUUSD has dropped to lower areas (2590).

- Trading above 2590 and breaking above would result in buys.

- Breaks below 2590 would result in Scenario 2 unfolding.

Happy trading!

FxPocket

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أغلقت الصفقة: تم الوصول للهدف

XAUUSD has hit 2550.