XAU/USD (Gold vs. USD) Analysis
Updated
Hello Guy's Must Support Me And Share Your Thoughts In Comments Section Thanks Trade Safely
XAU/USD (Gold vs. USD),
Bullish trend moving within an ascending channel. Key elements of the analysis include:
1. Support and Resistance Zones:
Strong support is marked near the $2,665 - $2,657 range, indicating buying interest.
Resistance zones are around $2,710 - $2,735, aligning with the projected take-profit (TP) target.
2. Trend Channel:
The price is consistently moving within a bullish channel, suggesting upward momentum.
A breakout above the immediate resistance level could accelerate the bullish move.
3. Technical Pattern:
The chart hints at a consolidation phase near resistance, potentially forming a breakout pattern.
4. Projected Target:
The target price (TP) is set at $2,710, implying further bullish potential if resistance levels are breached.
Outlook: If the price holds above the immediate support and breaks the resistance, the uptrend toward $2,710 is highly likely. However, failure to maintain the channel could lead to a correction.
NOTE: This Analysis For Educational Purposes Only Not A Trading Advice
XAU/USD (Gold vs. USD),
Bullish trend moving within an ascending channel. Key elements of the analysis include:
1. Support and Resistance Zones:
Strong support is marked near the $2,665 - $2,657 range, indicating buying interest.
Resistance zones are around $2,710 - $2,735, aligning with the projected take-profit (TP) target.
2. Trend Channel:
The price is consistently moving within a bullish channel, suggesting upward momentum.
A breakout above the immediate resistance level could accelerate the bullish move.
3. Technical Pattern:
The chart hints at a consolidation phase near resistance, potentially forming a breakout pattern.
4. Projected Target:
The target price (TP) is set at $2,710, implying further bullish potential if resistance levels are breached.
Outlook: If the price holds above the immediate support and breaks the resistance, the uptrend toward $2,710 is highly likely. However, failure to maintain the channel could lead to a correction.
NOTE: This Analysis For Educational Purposes Only Not A Trading Advice
Trade closed: target reached
trade closed at $2718 380+ pip profit complete
Join My Free Telegram Channel
t.me/+zfoaA591M6EzYzM8
My FREE Channel
t.me/+ikV4aEXVmMBkZWM0
I Will be Happy To Help You
t.me/+zfoaA591M6EzYzM8
My FREE Channel
t.me/+ikV4aEXVmMBkZWM0
I Will be Happy To Help You
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.