Xauusd market This chart illustrates a potential bullish reversal setup for Gold Spot (XAU/USD) on the 2-hour timeframe. Here’s a breakdown of the analysis:
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🟦 Key Observations:
1. Current Price: $3,274.175 — down by 1.61%, indicating a recent bearish move.
2. Support Zone: Price has entered and reacted from a major demand zone (light blue box near 3,250), suggesting buying interest.
3. Projected Price Path (black dotted lines):
Initial bounce toward the first resistance around 3,320.
A pullback may occur, potentially retesting lower support before resuming upward movement.
Price is expected to climb toward higher supply zones at:
3,360
3,400
3,440
4. Bullish Reaction Icon (⚡️): Marks a potential reversal or liquidity grab before a bullish impulse.
5. News Event Icons (🇺🇸): U.S. economic data releases are anticipated near July 2–4, which could trigger volatility and confirm the direction.
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📈 Outlook Summary:
Bias: Bullish (short to mid-term)
Key Levels to Watch:
Support: 3,250 – 3,270 zone
Targets: 3,320 → 3,360 → 3,400 → 3,440
Invalidation: A clean break and close below 3,240 would challenge the bullish outlook.
Let me know if you’d like a breakdown of entry/exit strategies or risk management tips based on this setup.
