XAUUSD’s Final Wave Completion – What’s Next?
XAUUSD has formed a corrective pattern on the hourly chart, offering a potential breakout setup. The correction has spanned over two weeks, during which the price has frequently crossed the EMAs (50/100/200) on the hourly timeframe. Meanwhile, the 20 EMA has consistently acted as solid support on the daily timeframe.
The pair has completed its final wave 5 of wave (C) at 2604 and has since started to rise sharply. Currently, XAUUSD faces a strong resistance level at 2670, which marks the high of wave (B). If the price breaks above 2670, traders can target the following levels: 2685 - 2715 - 2735+. If the breakout fails, the correction may continue, as 2670 is the key hurdle for the bulls to overcome.
Further updates will follow soon.
The pair has completed its final wave 5 of wave (C) at 2604 and has since started to rise sharply. Currently, XAUUSD faces a strong resistance level at 2670, which marks the high of wave (B). If the price breaks above 2670, traders can target the following levels: 2685 - 2715 - 2735+. If the breakout fails, the correction may continue, as 2670 is the key hurdle for the bulls to overcome.
Further updates will follow soon.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.