XAU/USD: Historic Breakout or Awaiting a Pullback?
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Gold prices continue to shatter records, reaching an all-time high of $2,664, fueled by declining consumer confidence in the US, weakening Treasury yields, and a softer US dollar.
Two strong support levels at $2,629.123 and $2,613.812, protected by the EMA 34 and EMA 89, act as shields for gold’s bullish momentum.
However, the biggest hurdle remains the resistance at $2,685.993 – the key level that will determine whether gold can continue its upward climb to new heights.
If the price breaks through this resistance, the potential for further gains looks promising.
Meanwhile, economic news from the US and statements from the FED could change the game at any moment.
Traders, be ready – opportunities like this don’t come twice. Get set for a powerful breakout!
Two strong support levels at $2,629.123 and $2,613.812, protected by the EMA 34 and EMA 89, act as shields for gold’s bullish momentum.
However, the biggest hurdle remains the resistance at $2,685.993 – the key level that will determine whether gold can continue its upward climb to new heights.
If the price breaks through this resistance, the potential for further gains looks promising.
Meanwhile, economic news from the US and statements from the FED could change the game at any moment.
Traders, be ready – opportunities like this don’t come twice. Get set for a powerful breakout!
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