Daily Price Action

XAUUSD Bulls Push to Expose $1,960


XAUUSD (gold) has reached our next target just above $1,900.

I wrote about this area in the May 20th commentary, along with the more significant $1,960 level.

Given the way XAUUSD is refusing to back down, I wouldn’t be surprised to see a breakout above $1,910 in the coming days.

That said, keep in mind that $1,900 to $1,910 is a minor area compared to $1,960.

I also think the breakout from the descending channel near $1,850 was a much better buying opportunity.

If XAUUSD can get above the $1,910 area on a daily closing basis, there’s a good chance we see gold run toward the $1,960 key handle.

A daily close above $1,960 would likely send gold back to all-time highs near $2,075.

Key support comes in at $1,875.

XAUUSD daily time frame

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Justin Bennett says

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James Frailey says

Justin, I really enjoy reading your analysis on the forex pairs. You are right on the money. Thanks for sharing your knowledge with us. Thanks Jim

Davy Van Campenhout says

Seems you’re on the wrong side.Gold dropped like a stone.

    Hillary says

    there is a likelihood of the prices pushing up after the retrace, anyways lets hold and see.

igor says

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ali says

thanks sir.

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