XAUUSD - Fibonacci Retracement Levels

Overall Trend: The chart shows a corrective movement following a previous uptrend. The price was in an upward trend until it reached around the 2,940 USD area, then began a gradual decline.
1️⃣ Fibonacci Retracement Levels:
The Fibonacci retracement tool is applied, showing key levels:

38.2% at 2,919.41
50.0% at 2,931.35
61.8% at 2,943.30
78.6% at 2,960.32
100% at 2,982.00
📌 The price is currently trading around the 61.8% level, which is a strong resistance area.

2️⃣ Support & Resistance Levels:
Support levels: 2,918.00 & 2,908.65 🟢

Resistance levels: 2,935.29 (current price zone) & 2,960.32 🔴

📊 If the price breaks above 2,943.30, the next target could be 2,960.32.

3️⃣ Moving Averages:
A blue moving average is trending upwards 📈, indicating bullish momentum.
4️⃣ Volume Analysis:
Increasing volume 📊 is supporting the uptrend, which is a positive sign for bulls 🐂.
Potential Scenarios:
1️⃣ Bullish Case: If the price breaks above 2,943.30 (61.8% Fib), we could see a rally towards 2,960.32 and possibly 2,982.00 🚀.
2️⃣ Bearish Case: If the price fails to break resistance, it may retrace to 2,919.41 or 2,908.65 for support 📉.

🔎 Conclusion:
✅ The overall trend is bullish, but 2,943.30 is a critical resistance level.
✅ A break above 2,935.29 increases the chance of further gains 📊.
❌ A drop below 2,918.00 could lead to a downward correction.

📢 Key Levels to Watch: 2,943.30, 2,960.32, 2,918.00.