XAUUSD Breakout: Awaiting a New Bullish Wave
XAUUSD is currently trading within a descending channel and has successfully broken out above this trend.
The EMA 34 and EMA 89 have crossed, signaling a potential bullish reversal in the market.
The current resistance level is around 2,525, while the short-term support is around 2,485.
XAUUSD is likely to fluctuate between 2,480 - 2,530, with a potential rise to 2,530, followed by a correction back to 2,490.
Regarding news: Factors influencing gold prices include inflation reports, the Federal Reserve's interest rate policies, U.S. economic data, USD fluctuations, and geopolitical events.
The EMA 34 and EMA 89 have crossed, signaling a potential bullish reversal in the market.
The current resistance level is around 2,525, while the short-term support is around 2,485.
XAUUSD is likely to fluctuate between 2,480 - 2,530, with a potential rise to 2,530, followed by a correction back to 2,490.
Regarding news: Factors influencing gold prices include inflation reports, the Federal Reserve's interest rate policies, U.S. economic data, USD fluctuations, and geopolitical events.
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