Gold (XAU/USD) is currently consolidating after a strong bullish rally, forming a potential continuation setup on the 2-hour chart. The Fibonacci extension levels suggest bullish momentum could push prices toward the 3306 level.
Price is hovering near 3231, with strong support at 3174. As long as this support holds, the upward trajectory remains intact. A breakout above the current range may confirm further upside toward the next major Fibonacci targets.
Traders should watch for volume confirmation and price action around 3232–3235 for possible entry signals.
Note: This idea is for educational purposes only. Please do your own analysis before making any trades.
Price is hovering near 3231, with strong support at 3174. As long as this support holds, the upward trajectory remains intact. A breakout above the current range may confirm further upside toward the next major Fibonacci targets.
Traders should watch for volume confirmation and price action around 3232–3235 for possible entry signals.
Note: This idea is for educational purposes only. Please do your own analysis before making any trades.
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.