On the 1H/4H chart, XAUUSD is currently respecting a rising trendline.
📉 Bearish Scenario:
If price breaks below the lower trendline, we could see a strong bearish move towards the 3125 support zone. This would indicate a potential trend reversal or deeper correction.
📈 Bullish Scenario:
If the trendline holds, bulls may take control again, pushing the price up toward the 3500 resistance zone.
🔍 Key Levels to Watch:
Support: 3125
Resistance: 3500
Trendline: Watch price action around it closely.
⚠️ This setup depends heavily on how the market reacts to the trendline. Wait for confirmation (like a strong breakout candle and volume spike) before entering.
📉 Bearish Scenario:
If price breaks below the lower trendline, we could see a strong bearish move towards the 3125 support zone. This would indicate a potential trend reversal or deeper correction.
📈 Bullish Scenario:
If the trendline holds, bulls may take control again, pushing the price up toward the 3500 resistance zone.
🔍 Key Levels to Watch:
Support: 3125
Resistance: 3500
Trendline: Watch price action around it closely.
⚠️ This setup depends heavily on how the market reacts to the trendline. Wait for confirmation (like a strong breakout candle and volume spike) before entering.
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.