Best analysis

XAU/USD - 2H Technical Analysis

Current Price: 2,657.9

Key Resistance: 2,670.5

Key Support: 2,640.0

Market Outlook:

1. The price is likely to consolidate below the 2,670.5 resistance level.


2. A breakdown below 2,640.0 could lead the price towards the 2,620.0 demand zone, which may present potential buying opportunities.


3. If the demand zone fails, the next support level is at 2,592.1.




Trading Strategy:

Short Position: Look for a rejection near 2,670.5 with a target around 2,640.0.

Long Position: Monitor the price reaction in the 2,620.0 demand zone for potential reversals.

Always confirm breakouts/breakdowns with price action before entering trades.


> Risk Management: Use stop-loss orders and maintain a proper risk-reward ratio for all positions.