Dear Traders, Welcome to Today’s XAUUSD Technical Analysis! At Guriforex, we’re dedicated to keeping you updated on market trends. Let’s dive straight into our comprehensive analysis without delay.

XAUUSD Technical Analysis:

🔥 The XAUUSD pair is currently experiencing a significant surge, and it has reached new highs while exhibiting the formation of a rising wedge pattern. However, gold has recently encountered resistance and retraced towards the trend line.

🔽 If the XAUUSD pair goes to the lower trendline and support at 2270 is breached, it may trigger a decline towards the 2246 level. On the other hand, if there is a bounce off the trend line, it could fuel further upward movement, potentially targeting the 2290 level once again.

🥇 It is crucial to consider various factors such as market sentiment, economic indicators, and geopolitical developments when predicting Gold’s performance today. Please share your forecasts and insights in the comments below to foster a comprehensive discussion! 🔽