XAUUSD (Gold/USD) Analysis –September 22, 2024

📊XAUUSD (Gold/USD) Analysis – September 22, 2024

🚨 Price Update: Gold is currently trading at $2622.18, nearing recent highs at $2625.75 after a sharp rise.📈

🔑 Key Levels:

Resistance:

$2625.75🔴 – Major resistance; this is the current high where sellers may re-enter.
$2650🔺 – Next potential level if bulls continue the momentum.

Support:

$2567.27🟢 – Key support where buyers previously stepped in.
$2550.00🟡 – If price retraces, expect this level to act as secondary support.
$2471.86🔴 – Significant support; if price falls further, a sharper decline may occur.

📈 Volume Profile:

Heavy trading around $2567.27, suggesting strong buyer interest in this area.
Low volume below $2515.72, which could lead to a quick drop towards $2471.86 if price action weakens.

🧐 What's Next?

If bulls can break above $2625.75, we may see a rally towards $2650.
However, if price stalls or fails to hold above $2567.27, expect a potential retracement towards $2515.72.

👀 News this week:
Time Zone - Sydney, Australia UCT + 10
Mon, Sep 23, 2024 11:45 PM USD Red Flash Manufacturing PMI
Mon, Sep 23, 2024 11:45 PM USD Red Flash Services PMI
Wed, Sep 25, 2024 12:00 AM USD Red CB Consumer Confidence
Thu, Sep 26, 2024 10:30 PM USD Red Final GDP q/q
Thu, Sep 26, 2024 10:30 PM USD Red Unemployment Claims
Fri, Sep 27, 2024 10:30 PM USD Red Core PCE Price Index m/m