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Gold XAU/USD Analysis:-
Gold succeeded to touch our first awaited target at 2300.00$ and settles there, waiting to continue the rise within the bullish channel that appears on the chart. The next main target is the resistance line of the bullish channel, now at 2330.00$.
We continue to suggest the bullish trend on the intraday and short-term basis, supported by the EMA50 that keeps supporting the price from below.
Alternatively, breaking 2260.00$ will stop the expected rise and push the price to test the bullish channel’s support line around 2215.00$ before any new positive attempt.
Disclaimer! All sharing is for learning and educational purposes only and is not a financial advice. Everyone is responsible for his own decisions. However, risk management should be your top priority, as trading is a risky business.
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