XAU/USD Holds onto Modest Gains, Building Momentum for an Upward Push Toward $2,000

Gold prices have bounced off key support in a pennant formation, but resistance at $1,993 is crucial for further upside, according to FXStreet’s Dhwani Mehta. If the rebound continues, gold prices could aim to break the falling trendline resistance at $1,993, which could open the door to testing the $2,000 mark and the yearly high of $2,010. However, failure to sustain the renewed upside could trigger a decline towards strong trendline support at $1,959. Breaking this support could expose the $1,950 round level, and sellers would then target the previous week’s low at $1,935 if the downside momentum accelerates.

Read the complete article

(Visited 9 times, 1 visits today)

About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

You Might Be Interested In


Your email address will not be published. Required fields are marked *

This is default text for notification bar