Gold Price Correction | XAUUSD Key Levels and Targets
Gold falls during a short-term correction, targeting support at 2668 - 2662. Traders can aim for bullish targets of 2694 and 2726. Monitor upcoming economic events like FOMC and NFP for insights.
1. XAUUSD Technical Analysis | Trade Ideas - Forex
Gold is experiencing a pullback within its short-term uptrend, signaling a corrective phase in the market. The bearish movement targeted the support zone between 2668 and 2662. This level represents a critical area where buyers may step in to drive the price upward again.
After testing this support, traders may consider initiating long trades, aiming for a first bullish target at 2694 and an extended target near 2726. The broader trend boundary has shifted downward to 2639 - 2631, indicating a key level to watch for potential trend reversals or deeper corrections.
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