The chart displays Gold (XAU/USD) on a 1-hour timeframe, showing a bullish trend with a defined upward channel. Here’s the breakdown:
1. Bullish Momentum: The price is following an upward trend within an ascending channel, indicating that the bullish momentum is strong. The target is set at 3060, suggesting that the price is expected to reach this level if the upward movement continues.
2. Order Block: The order block is identified at the top of the channel, which represents an area of significant buying interest. If the price pulls back to this order block, it could serve as a key support level and a potential area to enter long positions.
3. FVG (Fair Value Gap): An FVG zone is marked around 3043. This zone indicates an imbalance in market orders and may act as a support level for a price pullback before continuing the bullish trend. The FVG gap needs to be filled, and a price move back into this region may offer opportunities for buying.
4. Price Action: The price is currently testing an important support zone within the channel and the FVG. If the price holds above this zone, the bullish trend is likely to resume toward the target of 3060.5. Target 3060: The 3060 level is the primary target for the current bullish trend. If the price successfully breaks above the current resistance levels, the market could continue upward toward this price point.
Conclusion:
The chart shows a bullish outlook for Gold, with a potential target of 3060. Watch for a possible pullback to the FVG gap around 3043, which could provide an opportunity to enter long positions. If the price holds above this level, the bullish momentum will likely continue, reaching the 3060 target.
1. Bullish Momentum: The price is following an upward trend within an ascending channel, indicating that the bullish momentum is strong. The target is set at 3060, suggesting that the price is expected to reach this level if the upward movement continues.
2. Order Block: The order block is identified at the top of the channel, which represents an area of significant buying interest. If the price pulls back to this order block, it could serve as a key support level and a potential area to enter long positions.
3. FVG (Fair Value Gap): An FVG zone is marked around 3043. This zone indicates an imbalance in market orders and may act as a support level for a price pullback before continuing the bullish trend. The FVG gap needs to be filled, and a price move back into this region may offer opportunities for buying.
4. Price Action: The price is currently testing an important support zone within the channel and the FVG. If the price holds above this zone, the bullish trend is likely to resume toward the target of 3060.5. Target 3060: The 3060 level is the primary target for the current bullish trend. If the price successfully breaks above the current resistance levels, the market could continue upward toward this price point.
Conclusion:
The chart shows a bullish outlook for Gold, with a potential target of 3060. Watch for a possible pullback to the FVG gap around 3043, which could provide an opportunity to enter long positions. If the price holds above this level, the bullish momentum will likely continue, reaching the 3060 target.
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Disclaimer
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👉Free Telegram Channel Link 👇
t.me/+o7AGmpIUIjM2YWM8
Vip Paid Signals Link 🔗
t.me/+o7AGmpIUIjM2YWM8
Recommend Best Broker Exness
Partner link 👇
one.exnesstrack.org/a/cpngkkjhvf
t.me/+o7AGmpIUIjM2YWM8
Vip Paid Signals Link 🔗
t.me/+o7AGmpIUIjM2YWM8
Recommend Best Broker Exness
Partner link 👇
one.exnesstrack.org/a/cpngkkjhvf
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.