XAUUSD

Gold is currently making a very healthy retracement, which seems to be setting up for a bullish move. Right now, it’s trading around the 2891–2895 range, a key level that could act as a potential launch point for an upward push. However, there’s also a possibility that it could drop further to the 2833–2825 zone, where strong support might trigger a rebound.

This retracement is natural and necessary for the market, allowing it to take a breather before making another big move. Since January, gold has been strongly bullish, but this is the first real cooldown, giving the market a chance to reset before continuing its bullish trend. If buyers step in and defend key support levels, we could see another strong push to the upside.