XAUUSD (Gold vs USD) and outlines a range-bound trading scenario with key levels and potential price targets. Here’s a breakdown of the analysis:
🔍 Key Observations:
Support Zone (~$3,200 - $3,230):
Highlighted with yellow shading and green arrows.
Multiple historical bounces show this as a strong demand area.
Aligns closely with the 200 EMA ($3,223), reinforcing its strength.
Resistance Zone (~$3,350 - $3,375):
Marked as “RESISTANCE + TARGET 1”.
Previously acted as a ceiling; several price rejections noted.
A breakout above this zone could aim for Target 2: $3,400+.
Current Price (~$3,277):
Price is between the 50 EMA ($3,322) and the 200 EMA ($3,223).
Possible consolidation or preparation for a breakout.
Targets:
Target 1 (Downside): ~$3,200 — possible if price rejects from current level and breaks below support.
Target 2 (Upside): ~$3,400 — achievable if resistance breaks.
Price Projection Paths:
Bearish path: Rejection → retrace to support → break → Target 1.
Bullish path: Pullback → support holds → breakout → Target 2.
⚖️ Trading Idea Summary:
Bullish Bias above $3,230: Watch for a bounce and break of resistance toward $3,400.
Bearish Bias below $3,223: Watch for a breakdown and fall toward $3,200.
Use candlestick confirmation and volume for entry validation.
🔍 Key Observations:
Support Zone (~$3,200 - $3,230):
Highlighted with yellow shading and green arrows.
Multiple historical bounces show this as a strong demand area.
Aligns closely with the 200 EMA ($3,223), reinforcing its strength.
Resistance Zone (~$3,350 - $3,375):
Marked as “RESISTANCE + TARGET 1”.
Previously acted as a ceiling; several price rejections noted.
A breakout above this zone could aim for Target 2: $3,400+.
Current Price (~$3,277):
Price is between the 50 EMA ($3,322) and the 200 EMA ($3,223).
Possible consolidation or preparation for a breakout.
Targets:
Target 1 (Downside): ~$3,200 — possible if price rejects from current level and breaks below support.
Target 2 (Upside): ~$3,400 — achievable if resistance breaks.
Price Projection Paths:
Bearish path: Rejection → retrace to support → break → Target 1.
Bullish path: Pullback → support holds → breakout → Target 2.
⚖️ Trading Idea Summary:
Bullish Bias above $3,230: Watch for a bounce and break of resistance toward $3,400.
Bearish Bias below $3,223: Watch for a breakdown and fall toward $3,200.
Use candlestick confirmation and volume for entry validation.
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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.