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XAUUSD Bulls Push to Expose $1,960

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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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7 comments
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

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Davy Van Campenhout says

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

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    Hillary says

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

    Reply
igor says

Thank you, you really are a wizard

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ali says

thanks sir.

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