This XAU/USD 1-hour chart shows a symmetrical triangle pattern forming, which typically signals a potential breakout as price compresses between converging trendlines
Potential Scenarios:
• Bullish Breakout:
If the price breaks above the upper trendline (~3345–3350 area) with strong volume and RSI follow-through, the next targets could be:
• Short-term: 3380–3400
• Medium-term: 3450 and possibly retest the recent high of 3500
• Bearish Breakdown:
A break below the lower trendline (~3280–3270 area) with RSI dropping below 40 could lead to:
• Short-term: 3240
• Medium-term: 3200 or even 3160
Potential Scenarios:
• Bullish Breakout:
If the price breaks above the upper trendline (~3345–3350 area) with strong volume and RSI follow-through, the next targets could be:
• Short-term: 3380–3400
• Medium-term: 3450 and possibly retest the recent high of 3500
• Bearish Breakdown:
A break below the lower trendline (~3280–3270 area) with RSI dropping below 40 could lead to:
• Short-term: 3240
• Medium-term: 3200 or even 3160
Note
SHORT TERM SELL GOING ON AS PER CHART SETUP
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.