XAUUSD: Trend setting and outlook analysis
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Let's discuss and plan our strategy for the new day together!
In general, XAUUSD is facing difficulties in surpassing the resistance level of $2222. However, it remains stable within the ascending channel. Moreover, upon careful observation, we can see that a cup handle is gradually forming. Based on these factors, my expectation is for a breakthrough above the resistance level, aiming for the medium-term target of $2222.
In the short term, XAUUSD will continue to face challenges from the psychological resistance zone. It is expected to bounce back after reaching the upper limit of this upward channel.
I anticipate that XAUUSD may undergo further adjustments around the support zone to accumulate potential before further growth. Revisiting the resistance level will indicate that the coin is ready to break through this zone and continue its upward movement. The price is expected to rise strongly towards the ultimate target of $2222, as anticipated.
Looking to the medium term, investors can prioritize buying positions, as long as the static support level of $2,185 is maintained.
Let's discuss and plan our strategy for the new day together!
In general, XAUUSD is facing difficulties in surpassing the resistance level of $2222. However, it remains stable within the ascending channel. Moreover, upon careful observation, we can see that a cup handle is gradually forming. Based on these factors, my expectation is for a breakthrough above the resistance level, aiming for the medium-term target of $2222.
In the short term, XAUUSD will continue to face challenges from the psychological resistance zone. It is expected to bounce back after reaching the upper limit of this upward channel.
I anticipate that XAUUSD may undergo further adjustments around the support zone to accumulate potential before further growth. Revisiting the resistance level will indicate that the coin is ready to break through this zone and continue its upward movement. The price is expected to rise strongly towards the ultimate target of $2222, as anticipated.
Looking to the medium term, investors can prioritize buying positions, as long as the static support level of $2,185 is maintained.
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