XAU/USD Market Watch: Support and Breakout Signals
Hi Everyone,
Lets closely monitor the market dynamics, particularly the crucial support levels. If the price successfully breaks the last support barrier at 1963.902, attention should shift to the next weekly support around 1933.423. On the flip side, a promising scenario emerges if the price crosses and securely holds above 2002.059, potentially unlocking upward targets, with a focus on the 2093.231 level. It's essential to stay vigilant on both the weekly and daily charts to gauge the overall trend and make informed decisions in response to evolving market conditions.
If you have a moment, I'd really appreciate your boost for my analysis. Your input would be truly valuable.
TradeWithTheTrend3344
Lets closely monitor the market dynamics, particularly the crucial support levels. If the price successfully breaks the last support barrier at 1963.902, attention should shift to the next weekly support around 1933.423. On the flip side, a promising scenario emerges if the price crosses and securely holds above 2002.059, potentially unlocking upward targets, with a focus on the 2093.231 level. It's essential to stay vigilant on both the weekly and daily charts to gauge the overall trend and make informed decisions in response to evolving market conditions.
If you have a moment, I'd really appreciate your boost for my analysis. Your input would be truly valuable.
TradeWithTheTrend3344
Comment:
Having surpassed the mark of 2002.59, our focus now is a sustained position above this threshold!
Comment:
If the daily support levels at 1990.139 and 1981.964 are not able to hold, the market may test the pivot point at 1968.712, and there's a possibility of reaching the first new weekly support at S1, which is at 1975.235. Additionally, other support levels to be mindful of include S2 at 1969.579, S3 at 1963.924, and S4 at 1946.958.
Comment:
Our weekly analysis proved successful. Have a fantastic weekend, everyone!