#XAUUSD
Gold is currently trading between key resistance and support levels, and a range-bound strategy is recommended for today.
The key resistance zone to watch is 5240-5268, with short-term resistance concentrated in the 5220-5230 area.
If the price rebounds to 5220-5230 during the European session, consider shorting, with targets at 5200, 5170, and 5150.
However, if the price breaks through and holds above 5225, the strategy shifts to going long, targeting 5250-5268.
Support is seen in the 5070-5080 area.
If the price retraces to 5030 for the first time today, consider going long, targeting 5050-5080.
If the price unexpectedly breaks below 4996, the trend weakens, and shorting can be considered, targeting 4955. The key focus during the European session is on whether resistance levels hold. A breakout suggests continuation, while failure to break through indicates a potential pullback. Manage your position size and wait for confirmation.
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#GOLD
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