XAUUSD
This is a technical analysis of Gold (XAU/USD) on a 2-hour timeframe, showing a bullish market structure with an ascending channel in play.
Key Observations:
1. Uptrend Formation:
The price is moving within a bullish channel marked by two parallel blue trendlines.
Higher highs and higher lows confirm a steady uptrend.
2. Support & Resistance Levels:
The white horizontal support level around 2,905.926 suggests a key demand zone where price may bounce.
The upper resistance zone near 2,961.754 is a key level to watch for potential take-profit or breakout opportunities.
3. Projected Price Action:
The white arrows indicate a possible short-term pullback toward the lower boundary of the channel before a continuation to the upside.
A breakout above 2,961.754 could further strengthen the bullish trend, targeting higher levels.
Conclusion:
The trend is bullish, and traders may look for buying opportunities at pullbacks near the lower trendline or support zones.
A break below the channel would indicate weakness, potentially leading to a bearish reversal.
A strong breakout above 2,961.754 could drive prices toward new highs.
Would you like any refinements or additional insights on this analysis?
Key Observations:
1. Uptrend Formation:
The price is moving within a bullish channel marked by two parallel blue trendlines.
Higher highs and higher lows confirm a steady uptrend.
2. Support & Resistance Levels:
The white horizontal support level around 2,905.926 suggests a key demand zone where price may bounce.
The upper resistance zone near 2,961.754 is a key level to watch for potential take-profit or breakout opportunities.
3. Projected Price Action:
The white arrows indicate a possible short-term pullback toward the lower boundary of the channel before a continuation to the upside.
A breakout above 2,961.754 could further strengthen the bullish trend, targeting higher levels.
Conclusion:
The trend is bullish, and traders may look for buying opportunities at pullbacks near the lower trendline or support zones.
A break below the channel would indicate weakness, potentially leading to a bearish reversal.
A strong breakout above 2,961.754 could drive prices toward new highs.
Would you like any refinements or additional insights on this analysis?
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t.me/ForexExpert377
🔥 What You’ll Get:
✅ Daily Forex signals with high accuracy
✅ Technical & fundamental analysis
✅ Risk management tips to protect your capital
📩 Join now and start winning
t.me/ForexExpert377
🔥 What You’ll Get:
✅ Daily Forex signals with high accuracy
✅ Technical & fundamental analysis
✅ Risk management tips to protect your capital
📩 Join now and start winning
t.me/ForexExpert377
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.