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XAUUSD continues to rise within the rising price channel, providing strong support at 4,140,000 points, laying a stable foundation for the upward trend. The chart shows a strong breakout of the 4.15 million area, and the price is currently approaching the next target of 4.26 million, increasing the possibility of continued rise in the short term.
Big economic news supports this trend, as markets expect the Federal Reserve to cut interest rates in December. This has led to a weaker dollar and increased demand for gold. These factors, coupled with the stability of the market, provide XAUUSD with momentum towards the 4,260,000 area.
XAUUSD is likely to continue rising with strong support from the EMA (34, 89) and the price channel. However, the possibility of a correction at key resistance levels must be taken into account. If there is a price adjustment, 4.14 million points is still an ideal entry point, and the next target is 4.26 million points.
