XAU/USD Before the Break: Awaiting a Breakout or Correction?
The XAU/USD chart is weaving a dramatic story as gold prices hover around $2,661.865. This is a sensitive moment with buyers holding control but facing a major challenge – breaking the key resistance at $2,684.675 and continuing their journey toward the peak at $2,710.715.
The EMA 34 ($2,653.217) and EMA 89 ($2,635.299) serve as “solid shields,” supporting the current uptrend and providing a strong base for buyers.
The strong support at $2,637.457 also acts as the “final fortress,” preventing a deeper correction.
If the price breaks this resistance, an "explosive surge" could occur, opening up golden opportunities for investors.
Today is a critical trading day, with the US Non-Farm Employment Change data about to be released. This is one of the indicators that significantly impacts the market, especially the currency pairs related to USD.
The EMA 34 ($2,653.217) and EMA 89 ($2,635.299) serve as “solid shields,” supporting the current uptrend and providing a strong base for buyers.
The strong support at $2,637.457 also acts as the “final fortress,” preventing a deeper correction.
If the price breaks this resistance, an "explosive surge" could occur, opening up golden opportunities for investors.
Today is a critical trading day, with the US Non-Farm Employment Change data about to be released. This is one of the indicators that significantly impacts the market, especially the currency pairs related to USD.
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