XAUUSD (Gold) Technical Analysis

XAUUSD Gold has recently surged to a level that corresponds with its previous all-time high. A careful examination of the daily chart reveals that the price has become significantly overextended. In our comprehensive video analysis, we delved into the prevailing trend’s price action and market structure. Notably, we explored the potential scenario of gold retracing to a discounted zone, specifically within the Fibonacci retracement levels of 50% to 61.8%. Should such a retracement occur, it could present an attractive buying opportunity for traders.

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading in financial markets involves inherent risks, and past performance is not indicative of future results. Before making any investment decisions, consult with a qualified financial professional and consider your risk tolerance, investment objectives, and market conditions. The author and any associated parties shall not be held liable for any losses incurred based on the information provided in this analysis.