📉 XAU/USD (Gold) Analysis – 1H Timeframe
🔹 Resistance Levels:
$3,135.69 (Major Resistance)
$3,100.14 (Intermediate Resistance)
🔹 Support Levels:
$3,059.69 (First Key Support)
$3,037.41 (Second Support)
$2,994.18 - $2,982.53 (Strong Demand Zone)
🔺 Market Structure & Trend
Gold is currently in a downtrend after facing rejection from the $3,135 zone.
A bearish structure is forming, with lower highs and lower lows.
The price attempted a recovery but faced resistance near $3,100, suggesting a possible continuation of the bearish move.
📊 Technical Outlook
✅ Bearish Confirmation: If price fails to break above $3,100, we may see a continuation toward the $3,060 support.
✅ Breakdown Confirmation: If $3,060 breaks, gold could further drop to $3,037 or even $2,994-$2,982 (major demand zone).
✅ Bullish Recovery: A strong close above $3,100 may invalidate the bearish scenario and lead to a retest of $3,135.
🔥 Trading Plan
🔻 Short Entry: Around $3,100 with SL above $3,110, TP at $3,060 and $3,037.
🔹 Long Entry: If price reaches $3,037 and shows reversal signals, TP at $3,080 and $3,100.
📌 Key Watch:
Price action at $3,100 (resistance)
Support reaction at $3,060 and $3,037
⚠️ Disclaimer: This analysis is for educational purposes only. Always manage risk and follow your trading plan! 📊📉🚀
🔹 Resistance Levels:
$3,135.69 (Major Resistance)
$3,100.14 (Intermediate Resistance)
🔹 Support Levels:
$3,059.69 (First Key Support)
$3,037.41 (Second Support)
$2,994.18 - $2,982.53 (Strong Demand Zone)
🔺 Market Structure & Trend
Gold is currently in a downtrend after facing rejection from the $3,135 zone.
A bearish structure is forming, with lower highs and lower lows.
The price attempted a recovery but faced resistance near $3,100, suggesting a possible continuation of the bearish move.
📊 Technical Outlook
✅ Bearish Confirmation: If price fails to break above $3,100, we may see a continuation toward the $3,060 support.
✅ Breakdown Confirmation: If $3,060 breaks, gold could further drop to $3,037 or even $2,994-$2,982 (major demand zone).
✅ Bullish Recovery: A strong close above $3,100 may invalidate the bearish scenario and lead to a retest of $3,135.
🔥 Trading Plan
🔻 Short Entry: Around $3,100 with SL above $3,110, TP at $3,060 and $3,037.
🔹 Long Entry: If price reaches $3,037 and shows reversal signals, TP at $3,080 and $3,100.
📌 Key Watch:
Price action at $3,100 (resistance)
Support reaction at $3,060 and $3,037
⚠️ Disclaimer: This analysis is for educational purposes only. Always manage risk and follow your trading plan! 📊📉🚀
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.