XAUUSD: The Gold Trade You Won’t Want to Miss

Today I’m going to show you exactly how I’m trading the XAUUSD.

I’ll share bullish and bearish triggers for gold and a trend line you won’t want to miss later this year.

Check out the XAUUSD video below and scroll down for the annotated charts and analysis.

XAUUSD (gold) has some incredible technical levels that will offer an opportunity regardless of which way it breaks later this year.

First, we have the descending triangle that offered us an opportunity to short gold last week.

I mentioned this pattern to Daily Price Action members before the breakdown, and it’s played out relatively well.

The target for that pattern is $1,900, a confluence of support.

That’s key support for XAUUSD and a must-hold area for gold bulls.

A sustained break below the $1,900 region in the coming weeks would signal a significant breakdown for gold, targeting $1,800 at a minimum.

Alternatively, bullish price action from $1,900 support could offer a long opportunity back to $1,940 resistance.

But a sustained reclaim of $1,940 is the only way XAUUSD can turn constructive toward $1,980, as explained in today’s video above.

So, for now, gold is sideways, but $1,900 and $1,940 will offer an attractive opportunity in the coming weeks.

A break above $1,940 would target $1,980 and potentially $2,070, while a sustained break below $1,900 opens up $1,800 and lower.

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