XAU/USD: Awaiting a Breakthrough at $2,720 or Correction?
The XAU/USD chart on September 26 tells an exciting story of gold's bullish momentum. After hitting $2,661, gold is steadily advancing, shielded by two strong supports—EMA 34 at $2,540 and EMA 89 at $2,448.
These support levels act as fortresses, holding buyers firm and allowing gold to continue climbing.
However, all eyes are now on the key psychological resistance near $2,720, a critical barrier that, if broken, could pave the way for new highs.
Upcoming FOMC statements could significantly impact XAU/USD.
These support levels act as fortresses, holding buyers firm and allowing gold to continue climbing.
However, all eyes are now on the key psychological resistance near $2,720, a critical barrier that, if broken, could pave the way for new highs.
Upcoming FOMC statements could significantly impact XAU/USD.
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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.