Chart Explanation:
This is a 4-hour chart of Gold Spot vs. U.S. Dollar (XAU/USD) published on April 10, 2025. It highlights a key technical setup with the following elements:
1. Support Zone (Blue): Around the 2,950 - 3,000 USD range. This area acted as a strong demand zone where price bounced upward after a sharp decline, indicating buyer interest.
2. Resistance Zone (Red): Near the 3,160 - 3,170 USD level. This area previously rejected upward momentum, making it a potential zone for price reaction again.
3. Recent Price Action:
Price had a strong rally from late March, creating higher highs.
It then experienced a correction down to the support zone.
The market reversed sharply from support, breaking out of the descending channel (red zone), and is now heading upward in a strong bullish leg (blue zone).
4. Target Price: The chart shows a bullish projection targeting 3165 USD, which aligns with the previous resistance zone.
5. Expected Move (Green Arrow): Suggests a possible minor pullback before continuing the bullish move towards the target.
Summary:
Gold is currently in a bullish phase after bouncing off support, and it's targeting the 3165 level. Traders may look for buying opportunities on pullbacks as long as price stays above the support zone.
This is a 4-hour chart of Gold Spot vs. U.S. Dollar (XAU/USD) published on April 10, 2025. It highlights a key technical setup with the following elements:
1. Support Zone (Blue): Around the 2,950 - 3,000 USD range. This area acted as a strong demand zone where price bounced upward after a sharp decline, indicating buyer interest.
2. Resistance Zone (Red): Near the 3,160 - 3,170 USD level. This area previously rejected upward momentum, making it a potential zone for price reaction again.
3. Recent Price Action:
Price had a strong rally from late March, creating higher highs.
It then experienced a correction down to the support zone.
The market reversed sharply from support, breaking out of the descending channel (red zone), and is now heading upward in a strong bullish leg (blue zone).
4. Target Price: The chart shows a bullish projection targeting 3165 USD, which aligns with the previous resistance zone.
5. Expected Move (Green Arrow): Suggests a possible minor pullback before continuing the bullish move towards the target.
Summary:
Gold is currently in a bullish phase after bouncing off support, and it's targeting the 3165 level. Traders may look for buying opportunities on pullbacks as long as price stays above the support zone.
Trade closed: target reached
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🆓FREE FREE GOLD & CRYPTO SIGNALS✅
t.me/+v5m1fJKkyZkwOTFk
✅FOREX AND GOLD/XAUUSD SIGNALS 🔥
✅98% accurate signals
✅3-5 signals daily 🔥
✅Join us on telegram
t.me/+v5m1fJKkyZkwOTFk
t.me/+v5m1fJKkyZkwOTFk
✅FOREX AND GOLD/XAUUSD SIGNALS 🔥
✅98% accurate signals
✅3-5 signals daily 🔥
✅Join us on telegram
t.me/+v5m1fJKkyZkwOTFk
Related publications
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.