Gold Spot / U.S. DollarUpdated GOLD TOW SENARIO
1. Spot Price Around $2630:
Gold is fluctuating near the $2630 support zone. This level is critical as it could determine the direction of the next move.
2. Scenario if $2630 Breaks:
If the price breaks decisively below $2630 with strong volume, it could extend the bearish trend towards $2600 or even lower.
The next support levels to watch are $2600 and $2580.
3. Scenario if $2630 Holds:
If gold fails to break below $2630 and rebounds, it could move upward towards its immediate resistances at $2650, $2663, and potentially $2670.
A break above $2670 could trigger a bullish rally targeting $2700.XAUUSD
Gold is fluctuating near the $2630 support zone. This level is critical as it could determine the direction of the next move.
2. Scenario if $2630 Breaks:
If the price breaks decisively below $2630 with strong volume, it could extend the bearish trend towards $2600 or even lower.
The next support levels to watch are $2600 and $2580.
3. Scenario if $2630 Holds:
If gold fails to break below $2630 and rebounds, it could move upward towards its immediate resistances at $2650, $2663, and potentially $2670.
A break above $2670 could trigger a bullish rally targeting $2700.
XAUUSD Trade active
Gold prices are currently rising.
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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.