XAUUSD has reached an all-time high of 2570, touching both a resistance zone and the channel border. With no high-impact news scheduled today and it being a Friday, there's a possibility of a pullback, as markets often correct after a strong trending week. Additionally, the price action seems to be slowing down near the resistance zone, indicating potential weakness. Given that markets typically move in cycles, there is a strong possibility of a retest of the 2550 support level before any further upward movement. The target is the support zone around 2544.800
Trade closed: target reached
Price finally got close to target after a while
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.