The current analysis indicates a bullish trend for
XAUUSD
, provided it stays above the pivot line at 2438. Currently, the price seems poised to consolidate between 2450 and 2430 before any breakout occurs. The prevailing bullish pressure suggests that if trading remains above 2438, the trend will continue upwards. If the price dips below 2438, there are two scenarios to consider:
- A retest to 2430 followed by a continuation of the bullish trend.
- A deeper retest to 2410 before resuming the bullish trend, as illustrated on the chart.
The price is expected to rise to 2463, and stabilizing above 2463 could lead to a further increase to 2475.
Key Levels:
Bullish Line: 2463, 2475
Pivot Line: 2438
Bearish Line: 2430, 2410, 2396