A potential signal for XAUUSD growth is a test of the support line on the relative strength index, with another signal being a bounce from the lower edge of the bullish channel. If prices drop and break below the $2,505 mark on September 17, 2024, it would invalidate the growth scenario. A further fall would signal a continuation of the decline toward the $2,445 area.
For bullish momentum to resume, XAUUSD needs to break above the resistance area and close above $2,625. This breakout would suggest the price is pushing past the upper border of the bullish channel, signaling further growth by the channel's width.
A bearish correction could develop if XAUUSD tests support around the $2,545 level. If growth resumes, the target would be above $2,635. However, if prices fall and break below $2,505, this could indicate a continued decline, with the potential to reach levels below $2,445.