XAU/USD - Q2 Market Analyst

Based on current trends and analysis, I forecast that XAU/USD will reach a new all-time high (ATH) this week at the earliest and next week at the latest. Therefore, we should consider taking a Long/Buy Action in the market. Here are the key insights:

• Reversal: There was a strong rejection at the 2291 area after experiencing a strong rejection at 2393. This is a sign that the market has the potential to move upward. Additionally, this week, on May 10, 2024, the market closed above the support area.
  

• Correction: The market will undergo a correction around the 2393 area before continuing its bullish trend, as long as there are no adverse news or situations affecting the market.
  

Please remember, this analysis is a personal interpretation of market trends and should not replace professional financial advice. Always conduct thorough research and consult financial experts before making investment decisions.

Comment:

The market has already broken through the resistance area, signaling a bullish trend. As a result, there is a chance we could reach an all-time high (ATH) next week. However, it's crucial to stay vigilant regarding the Federal Reserve's decisions, as they will significantly impact market movements. Please stay informed and consistent in your approach.

This analysis reflects my personal interpretation of market trends and should not replace professional financial advice. Always conduct thorough research and consult financial experts before making investment decisions.