XAU/USD Key Levels for Monday
This week, I’m anticipating a bearish move in XAU/USD, with the daily RSI showing clear resistance at 60. If the RSI remains below this level on a daily close, it could confirm strong selling pressure, and my minimum target would be 2664, signaling a significant downside opportunity.
On the 1-hour timeframe, my focus is on sell setups for the day. The no-trading zone is between 2682 and 2697.5, where I’ll tread carefully but may consider small sell positions. The key area to watch is 2681, which serves as a pivotal support zone:
1. Scenario 1 – Retest of 2681: If the price respects 2681 and retests, I’ll look for retracement entries to sell, targeting lower levels.
2. Scenario 2 – Breakdown of 2681: If 2681 breaks and the price retraces, I’ll aim for sell entries around the 0.618 Fibonacci retracement level, depending on liquidity conditions.
This is just an analysis; trade well and accordingly.
On the 1-hour timeframe, my focus is on sell setups for the day. The no-trading zone is between 2682 and 2697.5, where I’ll tread carefully but may consider small sell positions. The key area to watch is 2681, which serves as a pivotal support zone:
1. Scenario 1 – Retest of 2681: If the price respects 2681 and retests, I’ll look for retracement entries to sell, targeting lower levels.
2. Scenario 2 – Breakdown of 2681: If 2681 breaks and the price retraces, I’ll aim for sell entries around the 0.618 Fibonacci retracement level, depending on liquidity conditions.
This is just an analysis; trade well and accordingly.
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