XAU/USD: Ready for a Strong Breakout?
The XAU/USD chart is painting a promising picture as gold prices hover around $2,660.630. With solid support from the EMA 34 ($2,648.177) and EMA 89 ($2,613.679), buyers currently hold the advantage in maintaining the upward momentum.
All eyes are now on the key resistance level at $2,687.072. If buyers manage to push the price above this mark, gold is likely to continue its rally, reaching new highs and offering significant opportunities for traders.
However, the market remains highly sensitive to economic news from the U.S., especially the upcoming moves by the Fed. These factors could have a strong impact and dictate the future direction of gold prices.
Will gold overcome the resistance and break higher, or will it turn back and correct? The next moves are eagerly anticipated!
All eyes are now on the key resistance level at $2,687.072. If buyers manage to push the price above this mark, gold is likely to continue its rally, reaching new highs and offering significant opportunities for traders.
However, the market remains highly sensitive to economic news from the U.S., especially the upcoming moves by the Fed. These factors could have a strong impact and dictate the future direction of gold prices.
Will gold overcome the resistance and break higher, or will it turn back and correct? The next moves are eagerly anticipated!
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