XAUUSD Market Outlook
Gold (XAUUSD) recently pulled back and successfully retested the 50% level of the previous daily range, confirming a healthy correction within the current uptrend. The price action is currently consolidating in a bullish flag or triangle pattern, both of which are trend continuation formations.
A breakout above the pattern's resistance could trigger strong bullish momentum, with potential to push price toward the upper boundary of the ascending channel.
Additionally, on the 4H timeframe, a bullish pin bar candlestick has formed, further supporting the case for continued upward movement. This pin bar signals buying pressure and a possible attempt to print new all-time highs.
Considering there are no major news events scheduled today, price action may remain relatively stable, with the Friday candle likely to close near the previous day’s high.
Target Zone: $3,380 resistance area
Bias: Bullish
Confirmation: Await breakout above pattern with volume
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Gold (XAUUSD) recently pulled back and successfully retested the 50% level of the previous daily range, confirming a healthy correction within the current uptrend. The price action is currently consolidating in a bullish flag or triangle pattern, both of which are trend continuation formations.
A breakout above the pattern's resistance could trigger strong bullish momentum, with potential to push price toward the upper boundary of the ascending channel.
Additionally, on the 4H timeframe, a bullish pin bar candlestick has formed, further supporting the case for continued upward movement. This pin bar signals buying pressure and a possible attempt to print new all-time highs.
Considering there are no major news events scheduled today, price action may remain relatively stable, with the Friday candle likely to close near the previous day’s high.
Target Zone: $3,380 resistance area
Bias: Bullish
Confirmation: Await breakout above pattern with volume
Please hit the like button and
Leave a comment to support for My Post!
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, JAMES_GOLD_MASTER_MQL5
Thank you.
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Or if you want something more hype-driven:
"GOLD BUY from 3327 — now flying at 3380! That’s +530 pips locked in and counting. Absolute fire!
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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.