📊 XAU/USD Daily Analysis – Bullish Continuation in Ascending Channel
🔹 Market Structure & Trend Analysis
Gold (XAU/USD) remains in a well-defined ascending channel, respecting both dynamic support and resistance levels. The trend remains bullish, with higher highs and higher lows forming since late 2024. Currently, price is trading near the upper boundary of the channel, suggesting strong bullish momentum.
🔹 Key Technical Levels
Resistance Zone: $3,153 – $3,200 (potential breakout target)
Current Price: $3,020 (holding above key mid-range support)
Support Levels:
Channel Midline Support: ~$2,980
38.2% Fibonacci Retracement: ~$2,900 (potential corrective zone)
Channel Bottom Support: ~$2,700 (strong demand area)
🔹 Bullish Scenario 🟢
A break and close above $3,153 would confirm a bullish breakout, opening the door for a rally toward $3,200 and beyond.
Momentum remains strong, with price structure favoring continued upside as long as it stays above the midline of the channel.
🔹 Bearish Scenario 🔴
Failure to break above $3,153 could trigger a short-term pullback toward $2,980 - $2,900, where buyers may re-enter.
A confirmed breakdown below the ascending channel would invalidate the bullish setup and expose $2,700 - $2,600 as potential downside targets.
🔹 Conclusion & Trade Considerations
Bias: Bullish as long as price remains inside the ascending channel.
Entry Considerations: Retest of $3,020 - $2,980 as support could offer a high-probability long setup.
Breakout Confirmation: A daily close above $3,153 strengthens the bullish case for continuation.
🔹 Market Structure & Trend Analysis
Gold (XAU/USD) remains in a well-defined ascending channel, respecting both dynamic support and resistance levels. The trend remains bullish, with higher highs and higher lows forming since late 2024. Currently, price is trading near the upper boundary of the channel, suggesting strong bullish momentum.
🔹 Key Technical Levels
Resistance Zone: $3,153 – $3,200 (potential breakout target)
Current Price: $3,020 (holding above key mid-range support)
Support Levels:
Channel Midline Support: ~$2,980
38.2% Fibonacci Retracement: ~$2,900 (potential corrective zone)
Channel Bottom Support: ~$2,700 (strong demand area)
🔹 Bullish Scenario 🟢
A break and close above $3,153 would confirm a bullish breakout, opening the door for a rally toward $3,200 and beyond.
Momentum remains strong, with price structure favoring continued upside as long as it stays above the midline of the channel.
🔹 Bearish Scenario 🔴
Failure to break above $3,153 could trigger a short-term pullback toward $2,980 - $2,900, where buyers may re-enter.
A confirmed breakdown below the ascending channel would invalidate the bullish setup and expose $2,700 - $2,600 as potential downside targets.
🔹 Conclusion & Trade Considerations
Bias: Bullish as long as price remains inside the ascending channel.
Entry Considerations: Retest of $3,020 - $2,980 as support could offer a high-probability long setup.
Breakout Confirmation: A daily close above $3,153 strengthens the bullish case for continuation.
Trade active
XAU/USD Update 📊
Gold just touched $3,061 and is now hovering around $3,056. Price is holding within the ascending channel, showing signs of consolidation.
🟢 Bullish Scenario: If buyers defend this level, we could see another push toward $3,100+, with $3,153 still in play as a key resistance.
🔴 Bearish Risk: A break below $3,050 - $3,020 could trigger a deeper correction toward $2,980, where stronger demand may step in.
📉 Watching price action closely—let’s see how it reacts from here! 🚀
Trade closed: target reached
🔥 XAU/USD Update – New All-Time High at $3,149! 🎯
Gold has smashed through resistance, hitting a fresh ATH at $3,149 exactly as analyzed! 🚀 The breakout above $3,153 confirms strong bullish momentum, with buyers firmly in control.
📊 What’s Next?
✅ Momentum remains bullish as long as price stays above $3,100 - $3,120
📈 Next upside targets: $3,180 – $3,200+
⚠️ Potential pullback levels: $3,100 - $3,080 (previous resistance now acting as support)
This move aligns perfectly with the ascending channel breakout—now let’s see if bulls can extend the rally! 🏆
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JOIN MY TELEGRAM CHANNEL
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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.