This 1-hour Gold (XAU/USD) chart shows a successful breakout above a key resistance zone near 3040, signaling strong bullish momentum. After consolidating within a range, price has broken the descending trendline and key resistance, suggesting a potential rally toward the 3061 target. A possible retest of the breakout zone could provide a confirmation entry before the next upward move. Traders should watch for bullish continuation signals while managing risk with appropriate stop-loss levels below the breakout area.
Trade active
Trade closed: target reached
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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.