Based on the current price of XAU/USD at 2360, there seems to be a slight downward trend towards the point of 2356. If the price falls below 2355, it may further decline towards 2350. However, if it surpasses the level of 2372, there's a tendency for an upward movement towards 2378 and eventually reaching levels around 2390, potentially even extending to 2400.
This analysis is based on technical levels and trends observed in the XAU/USD chart. The support and resistance levels mentioned (2355, 2372) serve as critical points where the direction of the price movement may shift. If the price breaches the support level at 2355 and 2333, it suggests a bearish sentiment strengthening, likely leading to further declines. Conversely, surpassing the resistance level at 2372 indicates bullish momentum gaining strength, potentially triggering a rally towards higher levels.
This analysis is based on technical levels and trends observed in the XAU/USD chart. The support and resistance levels mentioned (2355, 2372) serve as critical points where the direction of the price movement may shift. If the price breaches the support level at 2355 and 2333, it suggests a bearish sentiment strengthening, likely leading to further declines. Conversely, surpassing the resistance level at 2372 indicates bullish momentum gaining strength, potentially triggering a rally towards higher levels.
Trade closed: target reached:
2334.