POSSIBLE SCENARIO FOR XAUUSD THIS WEEK!

As we know gold is still in a strong uptrend.

When we look dating from 23/09/24 till 26/09/24 gold as hit several ATHs and retraced back down to its PREV BUY ZONE to continue its uptrend.

With new data being released around the dollar and war conflicts in the Middle East gold has been unsure of its direction causing it to range between the BUY/SELL ZONE.
The strong levels I would take from this are

- 2625
- 2640
- 2670

I think if gold can continue its sudden bearish momentum its had after hitting its ATH then we can see 2625 being retested and if a sudden break of that we may see more down side.

the other scenario is gold bounces off the 2625 for the third time in 3 weeks and continues its run in the bull market.

This is just my analysis and not financial advice.
Good luck trading


Hit the rocket for more analysis’s for the rest of the year.