For the week of September 2 - 6, 2024, several signals support a bullish outlook for XAUUSD. A rebound from the RSI support line and the lower boundary of the bullish channel suggests further price increases. However, a drop below 2280 would invalidate this bullish scenario, signaling a breakdown of support and a potential decline towards 2235. On the upside, confirmation of continued growth would come with a breakout and close above 2540.
Summary
The analysis for XAUUSD from September 2 - 6, 2024, indicates a possible dip to test the 2440 support, followed by continued growth toward the 2785 target. A rise in prices is supported by RSI trends, while a fall below 2280 could lead to a decline toward 2235. Keep an eye on resistance near 2540 as a key level to confirm further bullish movement.