Hello Everyone,
XAU/USD recently peaked at 2450.21 but has since experienced a bearish trend. Daily and weekly support levels have not held, and the price is currently heading towards testing the 1M Pivot Point (PP) or moving in that direction. Despite this downward movement, long-term expectations remain bullish. Please see the previous XAU/USD analysis as it may be relevant as well (
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In summary, the price may test either the 1M PP or the 1M support, depending on its reaction around the 1M PP. Overall projections remain bullish, and there is a chance the price could reverse at the 1D support, but this outcome is uncertain.
TradeWithTheTrend3344
XAU/USD recently peaked at 2450.21 but has since experienced a bearish trend. Daily and weekly support levels have not held, and the price is currently heading towards testing the 1M Pivot Point (PP) or moving in that direction. Despite this downward movement, long-term expectations remain bullish. Please see the previous XAU/USD analysis as it may be relevant as well (
In summary, the price may test either the 1M PP or the 1M support, depending on its reaction around the 1M PP. Overall projections remain bullish, and there is a chance the price could reverse at the 1D support, but this outcome is uncertain.
TradeWithTheTrend3344