🔹Technical Analysis: Gold (XAU/USD) - 1H Chart
▪️Trend Reversal & Bullish Momentum:
▫️ A clear breakout above the downward trendline on June 1st signaled the end of the bearish phase.
▫️Price action has since maintained a structure of higher highs and higher lows, confirming a shift to an uptrend.
▪️Key Support and Demand Zones:
▫️ The previous resistance level near $3,365 has turned into a new support zone, as highlighted by the strong bullish move and marked green arrows.
▫️ A demand zone for a bull run is identified between $3,365 and $3,390, suggesting potential for continued upward movement if price retraces.
▪️Consolidation and Breakout:
▫️ The chart shows a consolidation phase between June 6–10, followed by a breakout along an upward trendline, supporting a bullish continuation.
▪️Target Zones:
▫️ 1st Target Zone: $3,475 - $3,485
▫️ Final Target Area: $3,500 - $3,525
▫️These zones are aligned with previous highs and represent logical areas for bullish profit-taking.
▪️Outlook:
▫️ A possible bullish flag/pullback formation is in play, suggesting price may retest the demand zone before another leg higher toward the target zones.
▫️ A sustained move above $3,445 could confirm bullish continuation.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
▪️Trend Reversal & Bullish Momentum:
▫️ A clear breakout above the downward trendline on June 1st signaled the end of the bearish phase.
▫️Price action has since maintained a structure of higher highs and higher lows, confirming a shift to an uptrend.
▪️Key Support and Demand Zones:
▫️ The previous resistance level near $3,365 has turned into a new support zone, as highlighted by the strong bullish move and marked green arrows.
▫️ A demand zone for a bull run is identified between $3,365 and $3,390, suggesting potential for continued upward movement if price retraces.
▪️Consolidation and Breakout:
▫️ The chart shows a consolidation phase between June 6–10, followed by a breakout along an upward trendline, supporting a bullish continuation.
▪️Target Zones:
▫️ 1st Target Zone: $3,475 - $3,485
▫️ Final Target Area: $3,500 - $3,525
▫️These zones are aligned with previous highs and represent logical areas for bullish profit-taking.
▪️Outlook:
▫️ A possible bullish flag/pullback formation is in play, suggesting price may retest the demand zone before another leg higher toward the target zones.
▫️ A sustained move above $3,445 could confirm bullish continuation.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
Note
one layer activated from 3411Note
m15 demand zone , near 3411Trade active
Note
price touched 3444, we achieved 330 pips+Trade closed: target reached
Note
price respected the demand zone for bull run Note
near 3385
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Related publications
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.