Gold (XAU/USD) has pulled back into a significant buy zone between 2626 and 2630 aligning with a key demand area and the ascending trendline support. This retracement provides a potential entry point for buyers looking to capitalize on the next leg up.
Scenario:
Keep an eye on price action within the buy zone for confirmations before entering long positions. Always use proper risk management!
Scenario:
- If price holds within this zone, we could see a bullish reaction driving prices towards the $2,704 resistance level.
- The overall trend remains bullish, with the higher lows supporting a continuation of the upward momentum.
Keep an eye on price action within the buy zone for confirmations before entering long positions. Always use proper risk management!
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