XAUUSD: Mainly short trading, target 2637-2629
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During tomorrow's Asian trading session, the primary range is expected to be between 2654 -2644. There is significant resistance around the 2654 level, and if this resistance holds, the market should favor short positions.
Support is seen near 2643, and if this level breaks, the next target range would shift to 2637-2629. The market's inability to push through resistance at 2658 reinforces a bearish outlook in the near term.
During tomorrow's Asian trading session, the primary range is expected to be between 2654 -2644. There is significant resistance around the 2654 level, and if this resistance holds, the market should favor short positions.
Support is seen near 2643, and if this level breaks, the next target range would shift to 2637-2629. The market's inability to push through resistance at 2658 reinforces a bearish outlook in the near term.
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The price got support near 2638 and rebounded. It is now back near the resistance. This position is still very critical. If it cannot be broken, it will eventually fall.
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