XAUUSD could potentially be presenting a multi-timeframe bullish bias, with the trend analyzer indicating strong uptrends from M30 through H4, and a weaker uptrend on the D1 timeframe.
The price has moved above the 20, 50, and 100-period exponential moving averages (EMAs), potentially suggesting strengthening short-term momentum. The 200 EMA near $3,254 has held as dynamic support and marked the low of the recent retracement.
If the price maintains above the 100 EMA and breaks through near-term resistance at $3,320–$3,340, there is potential for a move toward the previous high around $3,360.
Traders might like to watch for confirmation from volume around resistance before positioning for breakout trades. Caution might be warranted if the price dips below $3,254, as it may indicate a deeper correction.
The price has moved above the 20, 50, and 100-period exponential moving averages (EMAs), potentially suggesting strengthening short-term momentum. The 200 EMA near $3,254 has held as dynamic support and marked the low of the recent retracement.
If the price maintains above the 100 EMA and breaks through near-term resistance at $3,320–$3,340, there is potential for a move toward the previous high around $3,360.
Traders might like to watch for confirmation from volume around resistance before positioning for breakout trades. Caution might be warranted if the price dips below $3,254, as it may indicate a deeper correction.
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Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
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.