XAUUSD: Focus on trading opportunities at these two levels today

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XAUUSD: Focus on trading opportunities at these two levels todayGOLD (US$/OZ)TVC:GOLDJames_AUMarket Review: Yesterday, the U.S. government struggled back into operation, and gold reacted with a sharp spike followed by an equally sharp reversal. During the U.S. session, prices once again tested the $2,240–$2,250 resistance zone, but failed to break through and subsequently plunged, giving back the entirety of the day’s gains. In yesterday’s trading strategy, I highlighted the $2,240–$2,250 resistance area, noting that failure to break above would provide a short opportunity. The nearly $100 price drop that followed should have allowed anyone who followed the strategy to secure substantial profits. Market Analysis: On the 1-hour chart, the key short-term resistance for gold is around $2,210—the rebound high from last night and also the 0.5 Fibonacci retracement level. As long as $2,210 fails to break, gold is likely to maintain a range-bound to bearish bias today, offering opportunities to position on the short side. Key support lies at $2,150, which coincides with a previous swing high and the lowest point of yesterday’s retracement rebound. If prices pull back to this level without breaking below, it provides a potential long entry setup. Trading Strategy: The strategy is straightforward $2,210 and $2,150 are today’s critical levels. As long as these levels hold, each offers an entry opportunity. It’s best to avoid chasing breakouts; instead, focus on selling high and buying low within the defined range. Overall, short setups from higher levels appear more favorable for today’s market conditions.