H_1 SCENARIO
The XAU/USD (Gold Spot against the US Dollar) is currently showing upward momentum, trading in a range of approximately $2,668 to $2,692 today. Recent technical indicators suggest bullish sentiment, with a positive daily movement reflecting potential further gains
Analysis:
Support Levels: Around $2,668, serving as a short-term floor.
Resistance Levels: Near $2,692; a breakout above this could indicate stronger bullish momentum.
Indicators: Moving averages and momentum indicators point to a continued uptrend if key levels are maintained.
Prediction:
In the short term, XAU/USD is expected to test resistance around $2,692 and possibly move toward $2,710 if buying pressure sustains. However, a failure to hold above $2,668 could lead to a retracement toward $2,650.
Disclaimer: I am not a financial advisor. The information provided is for informational purposes only and should not be taken as financial advice. Would you like more detailed insights or a different timeframe?
Analysis:
Support Levels: Around $2,668, serving as a short-term floor.
Resistance Levels: Near $2,692; a breakout above this could indicate stronger bullish momentum.
Indicators: Moving averages and momentum indicators point to a continued uptrend if key levels are maintained.
Prediction:
In the short term, XAU/USD is expected to test resistance around $2,692 and possibly move toward $2,710 if buying pressure sustains. However, a failure to hold above $2,668 could lead to a retracement toward $2,650.
Disclaimer: I am not a financial advisor. The information provided is for informational purposes only and should not be taken as financial advice. Would you like more detailed insights or a different timeframe?
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Catch these signals for FREE on Telegram:t.me/trextro_fx
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