XAU/USD Bullish Technical Outlook
Analysis:
Current Price: The gold spot price (XAU/USD) is at $3,311.
Key Levels:
Support Zones:
Order Block Support Level: Around $3,290 – $3,300 (highlighted by the grey box).
Key Support Level: Slightly lower near $3,275 – $3,280.
Resistance & Target:
The chart shows a bullish projection aiming for the $3,366 – $3,370 area, with an upside potential of ~3.3% from the bounce zone.
Indicators:
The 50 EMA ($3,328) and 200 EMA ($3,332) are above the current price, acting as dynamic resistances.
Price is testing the confluence of trendline support and horizontal support.
Structure:
The chart illustrates a clear bullish reversal pattern near the support area with an expected rally if buyers defend the zone.
The arrows project a bounce off the support with a break above the EMA cluster and continuation to the upper trendline and target zone.
Potential Trade Idea:
If price holds above $3,290, a long position could target $3,366, with stops below $3,270 (key support).
📌 Conclusion:
The analysis suggests that XAU/USD is positioned for a bullish reversal if the support block holds, with upside momentum targeting the $3,366 level. Watch the price action near the EMAs for confirmation of trend continuation.
Analysis:
Current Price: The gold spot price (XAU/USD) is at $3,311.
Key Levels:
Support Zones:
Order Block Support Level: Around $3,290 – $3,300 (highlighted by the grey box).
Key Support Level: Slightly lower near $3,275 – $3,280.
Resistance & Target:
The chart shows a bullish projection aiming for the $3,366 – $3,370 area, with an upside potential of ~3.3% from the bounce zone.
Indicators:
The 50 EMA ($3,328) and 200 EMA ($3,332) are above the current price, acting as dynamic resistances.
Price is testing the confluence of trendline support and horizontal support.
Structure:
The chart illustrates a clear bullish reversal pattern near the support area with an expected rally if buyers defend the zone.
The arrows project a bounce off the support with a break above the EMA cluster and continuation to the upper trendline and target zone.
Potential Trade Idea:
If price holds above $3,290, a long position could target $3,366, with stops below $3,270 (key support).
📌 Conclusion:
The analysis suggests that XAU/USD is positioned for a bullish reversal if the support block holds, with upside momentum targeting the $3,366 level. Watch the price action near the EMAs for confirmation of trend continuation.
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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.