XAUUSD, Daily
On the Daily chart, XAUUSD navigates within a head-and-shoulders pattern and rebounds from a crucial 2290 support zone. Further scenarios unfold:
- If the price fails to surpass the support zone, it will likely lead to a rise toward the 2360 level;
- However, breaching below the 2290 will indicate a decline to 2190 support.
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Timur Yurdagyul