XAUUSD Adjusts But Maintains Uptrend
Updated
The XAUUSD chart shows that the price is adjusting after hitting the resistance level of 2,759 USD, but the uptrend remains dominant.
The key support zone is around 2,710 USD, where the price has bounced back in previous corrections.
The EMA(34) and EMA(89) continue to provide important technical support, with the short-term EMA above the long-term EMA, reinforcing the uptrend. Despite selling pressure, buying interest is still protecting this support level.
If this support holds, the price may recover and retest the resistance level.
Concerns over the U.S. elections and expectations of rising interest rates supporting the dollar could put pressure on gold.
The key support zone is around 2,710 USD, where the price has bounced back in previous corrections.
The EMA(34) and EMA(89) continue to provide important technical support, with the short-term EMA above the long-term EMA, reinforcing the uptrend. Despite selling pressure, buying interest is still protecting this support level.
If this support holds, the price may recover and retest the resistance level.
Concerns over the U.S. elections and expectations of rising interest rates supporting the dollar could put pressure on gold.
Trade active
active
🚀 Join my Telegram channel now: t.me/+vAVaVA4Z5rFlMDVl to receive super-fast and super-accurate trading signals 📈. With a win rate of up to 85%, success is just a click away! 🔥
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.