XAUUSD TODAY ANALYSIS.
Updated
In this analysis we are looking for both scenario.
Scenario 1: Bullish Continuation
The price has previously broken through a key resistance level (now support), showing strong bullish momentum.
The price is hovering around the $2,673 zone after a sharp retracement from the highs near $2,710.
Key Levels:
Demand Zone: Previously at $2,650, now turned into a supply zone.
Immediate Resistance Zone: Around $2,690-$2,710.
If the price consolidates and respects the current support zone near $2,673, a bullish breakout is likely.
Targets for this move are $2,690 (intermediate resistance) and the $2,710 zone.
Scenario 2: Bearish Reversal
A potential retracement could occur if the price fails to break above $2,690-$2,710 convincingly.
The recent uptrend may lose steam as the demand zone near $2,650 has turned into a supply zone, increasing the chances of downward pressure.
Key Levels:
Support Zone: $2,650 and further lower at $2,630.
A failure to hold $2,650 could open the path for further decline.
A break below $2,673 and retesting $2,650 may result in a bearish move.
Targets include the $2,630 zone for deeper retracement.
Both scenarios depend heavily on how the price reacts to key zones ($2,650, $2,673, and $2,690-$2,710). For a bullish move, the price needs to maintain current support and break above resistance. Conversely, a bearish scenario unfolds if $2,650 fails to hold.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
Scenario 1: Bullish Continuation
The price has previously broken through a key resistance level (now support), showing strong bullish momentum.
The price is hovering around the $2,673 zone after a sharp retracement from the highs near $2,710.
Key Levels:
Demand Zone: Previously at $2,650, now turned into a supply zone.
Immediate Resistance Zone: Around $2,690-$2,710.
If the price consolidates and respects the current support zone near $2,673, a bullish breakout is likely.
Targets for this move are $2,690 (intermediate resistance) and the $2,710 zone.
Scenario 2: Bearish Reversal
A potential retracement could occur if the price fails to break above $2,690-$2,710 convincingly.
The recent uptrend may lose steam as the demand zone near $2,650 has turned into a supply zone, increasing the chances of downward pressure.
Key Levels:
Support Zone: $2,650 and further lower at $2,630.
A failure to hold $2,650 could open the path for further decline.
A break below $2,673 and retesting $2,650 may result in a bearish move.
Targets include the $2,630 zone for deeper retracement.
Both scenarios depend heavily on how the price reacts to key zones ($2,650, $2,673, and $2,690-$2,710). For a bullish move, the price needs to maintain current support and break above resistance. Conversely, a bearish scenario unfolds if $2,650 fails to hold.
ALWAYS USE STOPLOSS AND TAKE PROFIT AS WELL AS RISK MANAGEMENT FOR YOUR TRADES.
ITS JUST MY ANALYSIS OR PREDICTION LET'S SEE WHAT WILL HAPPEN IF YOU LIKE MY IDEA SO SUPPORT ME AND BOOST TO APPRECIATES.
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