The *XAUUSD* chart presents a strong bullish trend as *Gold* approaches the *3,000* mark, with several key levels highlighted. Here's a breakdown of the current market setup:
1. *Price Action Overview:*
The chart shows *Gold* recently pushing higher after finding strong support around *2,900*, indicated by the green arrow and the *Support Zone*. The price has successfully broken through previous resistance levels and is aiming toward *3,000*.
2. *Target Levels:*
- *Target Point 1:* Positioned around *2,990*.
- *Target Point 2:* Marked at *2,995*.
- *Target Point 3:* A key resistance at *3,000*, which may act as a barrier.
If the price can break through these targets, there's potential for it to test higher levels, potentially even reaching the *$3,100* range in the medium-term.
3. *Support & Liquidity Zones:*
- The *Support Zone* is clearly marked below the current price action. If Gold retraces, this level will likely act as a key buy zone.
- The *Buyside Liquidity* indicates the market's preference for higher prices, which means buying pressure could push prices further toward the targets.
4. *Fair Value Gaps (FVG) and Order Blocks (OB):*
The chart shows areas marked as *FVG* (Fair Value Gaps), where there may be potential for price to fill in or react.
- An *Order Block (OB)* is indicated around the *2,950* level, which has historically been a strong support area.
5. *Market Sentiment:*
- With the *50-period moving average (blue line)* rising, this supports a continuation of the bullish trend.
- The *Red arrows* marking previous sell-off areas highlight potential price reversal zones or areas of resistance that may have already been overcome by recent upward momentum.
Conclusion:
Gold is currently in a strong bullish phase, approaching key resistance at *3,000*. Traders should watch for a potential break above *3,000*, which could signal further upside towards the *$3,100* target. However, any pullbacks into the *support zone* or the *order block* could offer buy opportunities for those looking to catch the continuation of this uptrend. Always use proper risk management and watch for key price reactions at each target.
1. *Price Action Overview:*
The chart shows *Gold* recently pushing higher after finding strong support around *2,900*, indicated by the green arrow and the *Support Zone*. The price has successfully broken through previous resistance levels and is aiming toward *3,000*.
2. *Target Levels:*
- *Target Point 1:* Positioned around *2,990*.
- *Target Point 2:* Marked at *2,995*.
- *Target Point 3:* A key resistance at *3,000*, which may act as a barrier.
If the price can break through these targets, there's potential for it to test higher levels, potentially even reaching the *$3,100* range in the medium-term.
3. *Support & Liquidity Zones:*
- The *Support Zone* is clearly marked below the current price action. If Gold retraces, this level will likely act as a key buy zone.
- The *Buyside Liquidity* indicates the market's preference for higher prices, which means buying pressure could push prices further toward the targets.
4. *Fair Value Gaps (FVG) and Order Blocks (OB):*
The chart shows areas marked as *FVG* (Fair Value Gaps), where there may be potential for price to fill in or react.
- An *Order Block (OB)* is indicated around the *2,950* level, which has historically been a strong support area.
5. *Market Sentiment:*
- With the *50-period moving average (blue line)* rising, this supports a continuation of the bullish trend.
- The *Red arrows* marking previous sell-off areas highlight potential price reversal zones or areas of resistance that may have already been overcome by recent upward momentum.
Conclusion:
Gold is currently in a strong bullish phase, approaching key resistance at *3,000*. Traders should watch for a potential break above *3,000*, which could signal further upside towards the *$3,100* target. However, any pullbacks into the *support zone* or the *order block* could offer buy opportunities for those looking to catch the continuation of this uptrend. Always use proper risk management and watch for key price reactions at each target.
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Recommend best broker exness Partner link 👇
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Related publications
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.