Technical analysis of Gold (XAU/USD) 1-hour chart analysis, showing a critical decision zone with two possible scenarios: a bullish bounce or a bearish continuation. Here's a breakdown of the idea illustrated in the chart:
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> Gold is approaching a key zone (order block), with a potential for either a strong bullish reversal or a breakdown toward a lower support level.
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Key Technical Highlights
1. Order Block (Supply/Demand Zone)
A horizontal gray zone is marked as an "order block" — a price area where previous aggressive buying occurred.
Price is currently revisiting this zone, marked with a yellow circle, signaling a potential reaction point.
2. Support & Resistance
Support level: Marked around $3,370 - $3,360.
Deeper target support: $3,333.827, shown as a downside target point in case of bearish continuation.
Price recently failed to hold above $3,407 (EMA 50), showing short-term bearish pressure.
3. Scenarios
Bullish Scenario:
If price reacts positively at the order block, we could see a rebound toward $3,509.60 (top blue target line).
This would represent a +3.70% move (approx. $125).
Likely to happen if buyers defend the support zone and price moves above the moving averages again.
Bearish Scenario:
If the support/order block fails, price may fall further to test $3,333.82 (target support).
RSI is weak (below 50), suggesting momentum is fading.
4. Indicators
EMA 50 (red) and EMA 200 (blue) are both present; price is nearing the 200 EMA, which might act as dynamic support.
RSI (14) is at 42.37, near oversold, but still bearish-leaning.
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Trading Insight
The yellow circle marks a decision point.
Look for price action confirmation:
Bullish candles + RSI reversal = possible long entry.
Break below 200 EMA = bearish breakdown likely.
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---
> Gold is approaching a key zone (order block), with a potential for either a strong bullish reversal or a breakdown toward a lower support level.
---
Key Technical Highlights
1. Order Block (Supply/Demand Zone)
A horizontal gray zone is marked as an "order block" — a price area where previous aggressive buying occurred.
Price is currently revisiting this zone, marked with a yellow circle, signaling a potential reaction point.
2. Support & Resistance
Support level: Marked around $3,370 - $3,360.
Deeper target support: $3,333.827, shown as a downside target point in case of bearish continuation.
Price recently failed to hold above $3,407 (EMA 50), showing short-term bearish pressure.
3. Scenarios
Bullish Scenario:
If price reacts positively at the order block, we could see a rebound toward $3,509.60 (top blue target line).
This would represent a +3.70% move (approx. $125).
Likely to happen if buyers defend the support zone and price moves above the moving averages again.
Bearish Scenario:
If the support/order block fails, price may fall further to test $3,333.82 (target support).
RSI is weak (below 50), suggesting momentum is fading.
4. Indicators
EMA 50 (red) and EMA 200 (blue) are both present; price is nearing the 200 EMA, which might act as dynamic support.
RSI (14) is at 42.37, near oversold, but still bearish-leaning.
---
Trading Insight
The yellow circle marks a decision point.
Look for price action confirmation:
Bullish candles + RSI reversal = possible long entry.
Break below 200 EMA = bearish breakdown likely.
Feedback My idea like and comment's 🙏
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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.
Join My Official Channel Link
t.me/goldprotreader
Join My Public Channel Link
t.me/goldprotreader
t.me/goldprotreader
Join My Public Channel Link
t.me/goldprotreader
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.