(XAU/USD) on the 1-hour (1H) timeframe, showing a potential buy,
(XAU/USD) on the 1-hour (1H) timeframe, showing a potential bullish setup.
Chart Details:
• Current Price: Around 2,888.57
• Technical Analysis:
• Entry Zone: Around 2,877 - 2,883 (marked in red)
• Target Zone: Around 2,923 - 2,925 (marked in green)
• Expected Movement: The chart suggests a potential bullish reversal from the entry zone, targeting the upper resistance.
• Support Level: The entry zone is acting as a key support area.
• Resistance Level: The target zone is the expected resistance level.
Conclusion:
The setup indicates a possible buy opportunity from the entry zone with a potential upside towards 2,923 - 2,925. If price holds above the support, the bullish move could play out. However, if price breaks below 2,877, downside risk increases.
Chart Details:
• Current Price: Around 2,888.57
• Technical Analysis:
• Entry Zone: Around 2,877 - 2,883 (marked in red)
• Target Zone: Around 2,923 - 2,925 (marked in green)
• Expected Movement: The chart suggests a potential bullish reversal from the entry zone, targeting the upper resistance.
• Support Level: The entry zone is acting as a key support area.
• Resistance Level: The target zone is the expected resistance level.
Conclusion:
The setup indicates a possible buy opportunity from the entry zone with a potential upside towards 2,923 - 2,925. If price holds above the support, the bullish move could play out. However, if price breaks below 2,877, downside risk increases.
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.