The XAUUSD chart highlights a clear “battle” at key price levels. Gold has just rebounded from the support at 2,734 and is approaching the resistance at 2,756 – a zone where sellers are strongly defending. The two EMAs (89 and 34) continue to act as “shields,” reflecting the ongoing downward pressure.
With selling force at resistance, the 2,734 support zone could serve as a crucial pivot to determine the next trend. For now, monitoring price reactions at these levels provides a clearer view of market behavior without the need for distant predictions.
Investors are closely watching U.S. election uncertainties and the Federal Reserve’s policy path.