XAUUSD

Support and Resistance Zones:
Green Zones (Support):
These represent demand zones where price is expected to potentially reverse upward or consolidate.
The current price is within or near a lower green support zone, which could act as a pivot for further moves.
Red Zones (Resistance):
These represent supply zones where price might face selling pressure or consolidate.
Price Movement Scenarios:
Bullish Scenario (Green Path):
Price could bounce from the current support zone.
The upward move may target the red resistance zones.
A strong breakout above the resistance zone could lead to further bullish momentum.
Bearish Scenario (Red Path):
Price could fail to hold the support zone.
A bearish move could target the lower green support zone near 2616.29.
This would signal a continuation of the downtrend.