A supporting factor for the rise in XAU/USD could be a test of the support line on the RSI (Relative Strength Index). Another signal would be a bounce from the lower boundary of the bullish channel. Should the price drop below 2525 on Sept. 19, 2024, it would invalidate the growth scenario. A fall below this level could indicate a break in the support zone, pushing the price toward 2485 or lower.
Conversely, if XAU/USD breaks the resistance level and closes above 2605, expect an acceleration in the price increase.
Forecast for Sept. 19, 2024 points to a potential bearish correction with a test of support near 2565. Afterward, XAU/USD is likely to resume its upward trend, aiming for 2670. A drop below 2525 would negate the growth outlook and could lead to further declines, possibly hitting levels below 2485.