1. Overall Trend (Short-Term):
From early June onward, the trend has shown a clear upward movement, especially after June 11, suggesting bullish momentum.
However, in the most recent candles (last 24–36 hours), there is a consolidation/sideways movement, potentially indicating a pause or reversal.
2. Key Support and Resistance Zones:
Resistance Zone: Around 3,460–3,470 (the recent high before price pulled back).
Support Zone: Near 3,380–3,390, previously tested before the last push upward.
3. Price Structure & Patterns:
There was a strong rally from June 11–13, followed by a pullback and consolidation.
This could be forming a bullish flag or pennant, which often precedes a continuation upward if confirmed by volume or breakout above resistance.
4. Recent Candlestick Behavior:
Current candles are small-bodied with wicks on both sides — this suggests indecision or low momentum, often found before a breakout or reversal.
🧭 Potential Scenarios (Neutral Outlook):
Bullish Continuation: A breakout above the recent high (~3,460) could resume the uptrend toward 3,500+.
Bearish Reversal: A drop below the 3,380 support area could trigger a correction toward 3,340 or lower.
📌 Note: Watch for upcoming economic events marked on the chart — especially those with the U.S. flag, as USD news often significantly affects XAU/USD.
From early June onward, the trend has shown a clear upward movement, especially after June 11, suggesting bullish momentum.
However, in the most recent candles (last 24–36 hours), there is a consolidation/sideways movement, potentially indicating a pause or reversal.
2. Key Support and Resistance Zones:
Resistance Zone: Around 3,460–3,470 (the recent high before price pulled back).
Support Zone: Near 3,380–3,390, previously tested before the last push upward.
3. Price Structure & Patterns:
There was a strong rally from June 11–13, followed by a pullback and consolidation.
This could be forming a bullish flag or pennant, which often precedes a continuation upward if confirmed by volume or breakout above resistance.
4. Recent Candlestick Behavior:
Current candles are small-bodied with wicks on both sides — this suggests indecision or low momentum, often found before a breakout or reversal.
🧭 Potential Scenarios (Neutral Outlook):
Bullish Continuation: A breakout above the recent high (~3,460) could resume the uptrend toward 3,500+.
Bearish Reversal: A drop below the 3,380 support area could trigger a correction toward 3,340 or lower.
📌 Note: Watch for upcoming economic events marked on the chart — especially those with the U.S. flag, as USD news often significantly affects XAU/USD.
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.
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.