Gold (XAU/USD) – 1-Hour Time Frame Analysis
Gold is currently trading within an upward parallel channel on the 1-hour chart. The price has been consistently respecting both the support and resistance zones of this channel.
At the moment, Gold is positioned near the lower boundary (support zone) of the channel. From this level, we anticipate a strong bullish move, potentially triggering a significant upside.
Current Price: 3331
Target: 3402
Stop-Loss: 3312
Traders may look for confirmation at the support zone before entering long positions, with favorable risk-to-reward potential.
Gold is currently trading within an upward parallel channel on the 1-hour chart. The price has been consistently respecting both the support and resistance zones of this channel.
At the moment, Gold is positioned near the lower boundary (support zone) of the channel. From this level, we anticipate a strong bullish move, potentially triggering a significant upside.
Current Price: 3331
Target: 3402
Stop-Loss: 3312
Traders may look for confirmation at the support zone before entering long positions, with favorable risk-to-reward potential.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.