XAUUSD Long-Term Forecast
XAUUSD Long-Term Forecast
Gold (XAUUSD) is testing the upper boundary of a strong ascending channel, reflecting its long-term bullish momentum. Based on Fibonacci extensions, I see a potential pullback toward key levels like $2,315 or $2,100, where strong support from the volume profile lies.
However, I expect the price to eventually break out of this channel due to ongoing geopolitical tensions, particularly the Russia-Ukraine situation, which is driving major investors toward safe-haven assets like Gold -& Bitcoin.
Momentum is showing signs of slowing down, but this correction could serve as a springboard for the next big move. My eyes are on $2,800 as the next resistance to clear, with a $3,000 target in sight once the breakout materializes.
Gold (XAUUSD) is testing the upper boundary of a strong ascending channel, reflecting its long-term bullish momentum. Based on Fibonacci extensions, I see a potential pullback toward key levels like $2,315 or $2,100, where strong support from the volume profile lies.
However, I expect the price to eventually break out of this channel due to ongoing geopolitical tensions, particularly the Russia-Ukraine situation, which is driving major investors toward safe-haven assets like Gold -& Bitcoin.
Momentum is showing signs of slowing down, but this correction could serve as a springboard for the next big move. My eyes are on $2,800 as the next resistance to clear, with a $3,000 target in sight once the breakout materializes.
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.