The analysis indicates a potential upward movement for XAUUSD, particularly if the relative strength indicator tests the support line. Additionally, a rebound from the bullish channel's lower boundary could further support this growth. However, if prices decline and break below the 2585 mark, this would invalidate the bullish scenario, leading to a potential drop below the 2545 level.
On October 1, 2024, XAUUSD is expected to undergo a bearish price correction, testing support around the 2605 level. If the asset manages to stabilize and continue its upward trend, targets above 2755 are feasible. Conversely, should the price break through 2585, it would indicate a further decline, with targets potentially falling below 2545.
In summary, while there are signals indicating a possible rally for XAUUSD, vigilance is required for any signs of a price breakdown. Keeping an eye on these key levels will be crucial in determining the direction of the asset moving forward.