XAUUSD is expected to rise this week (October 14-18, 2024). A rebound from the RSI support line and the lower boundary of the bullish channel are positive indicators.
A price drop and a break below 2535 would signal a potential reversal. The target for a decline is below 2465.
Conversely, a break above the resistance level of 2765 would confirm an upward trend. This would indicate a breakout of the bullish channel's upper boundary, leading to a price increase equal to the channel's width.
There is a possibility of a temporary decline to test the support level near 2575. However, a subsequent rise is anticipated, with a target above 2955. A positive sign for this increase would be a test of the RSI trend line. A breakdown below 2535 would signal a continuation of the downward trend, with a target below 2465.