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CHART BREAKDOWN XAUUSD: Key Levels, Targets and Thoughts!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Brief Description🖊️:

The chart provides insights into critical market levels, emphasizing an essential supply/demand zone (low-risk sell/buy zone) spanning from 2357 to 2359 and 2327 to 2325. Additionally, medium-risk buy zone between 2334-2332.5, respectively, are highlighted.

Things I Have Seen👀:


Important Supply Zone🟢: Identified between 2357 and 2359, serving as a low-risk sell.

Important Demand Zone🟢: Identified between 2327 and 2325, serving as a low-risk buy.

Medium-Risk Buy Zone🟠: Noted between 2334 and 2332.5, suggesting another area with moderate risk for potential buying positions.


Bullish Targets📈:

2330: Possible retracement area.
2337: Possible retracement area.
2342: Possible retracement area.
2352: Laying Buy Side Liquidity
Ultimate Target: 2357- Significant supply zone.


Bearish Targets📉:

2356: Possible retracement area.
2350: Possible retracement area.
2342: Possible retracement area.
2334: Possible retracement area.
2327: Essential Demand Zone
Ultimate Target: 2320: Laying Low Liquidity



What's Important Now❗
Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market.

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