XAUUSD: Sideway
The chart indicates that gold prices are moving sideways within a relatively narrow range on the H1 timeframe. Support is around 2,645, and resistance is near 2,665, forming a clear consolidation zone. The price is currently fluctuating within this range, without any strong signs of a breakout.
Market factors, such as the strengthening of the US dollar due to expectations around US economic data or geopolitical tensions in the Middle East, may continue to pressure gold prices. If the dollar remains strong, gold may stay in this consolidation range until a clear breakout occurs.
Market factors, such as the strengthening of the US dollar due to expectations around US economic data or geopolitical tensions in the Middle East, may continue to pressure gold prices. If the dollar remains strong, gold may stay in this consolidation range until a clear breakout occurs.
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