Hello Traders 👋
XAUUSD 2h Chart Analysis Current Market : $2648
Bearish Opportunities:
he market may either continue selling from the current area or take a minor correction before declining toward the first support at $2637-$2623. If the first support level is breached, the next target would be the second support at $2612-$2604.
Bullish Opportunities:
The market appears to be gaining momentum from the first support level. However, if this support level breaks, the second support is expected to trigger a rebound. Additionally, there are Fair Value Gaps (FVGs) above that the market needs to fill before continuing any potential downward movement. The final FVG in this range lies between $2699 and $2708, which aligns with our first resistance level and is likely to initiate a downward move.
Note: Always conduct your own analysis before entering any trades!
Additionally, keep an eye on today's Manufacturing PMI news, as it could impact the market and our analysis.