XAUUSD – Will Gold Continue to Print New ATH ?XAUUSD – Will Gold Continue to Print New ATHs?
Hello Traders,
The Asian session today shows that buying interest in gold remains strong. A confirmed break above 3658 would mark a key resistance level and signal that gold could extend its bullish trend further.
Technical Outlook
The Fibonacci 2.618 extension has already produced a reaction, but in my view, liquidity in that area has not been fully absorbed. This leaves room for one more push to complete that liquidity sweep before a corrective move.
As today is Friday, there is also the possibility of a pullback to balance order flow and for the market to close the weekly candle at a lower level.
On the downside, a clear break below 3613 support would confirm a stronger bearish outlook for today’s session.
Trading Strategy
Sell Zone: Around 3688 (Fibonacci 2.618), with a suggested stop-loss of about 6 dollars.
Buy Zone: Around 3558, with a suggested stop-loss of about 8 dollars. This zone could offer potential for a deeper upside move.
Alternative Scenario: If price breaks and closes below 3613, immediate short positions can be considered as bearish momentum takes control.
This is my trading plan for gold today. Use it as a reference and feel free to share your own perspective in the comments.
