XAU/USD – Eyeing Bullish Breakout
Chart Overview:
Gold (XAU/USD) is showing signs of a potential bullish reversal based on price action, volume profile, and Ichimoku cloud behavior.
Key Observations:
Support Zone Respected (3,300 Region):
Price dipped into the high-volume demand zone near 3,300 and showed strong buying interest.
This level has acted as a base previously, and it's currently being defended again.
Ichimoku Cloud Analysis:
Price is currently below the Kumo cloud, indicating short-term bearish pressure.
However, the forecasted path suggests a potential breakout above the cloud, which would flip momentum bullish.
Flat Kijun-Sen indicates a magnet zone for price (potential retrace upwards).
Projected Move:
The white path on the chart outlines a bullish bounce from current levels, with a minor pullback followed by a push towards the resistance zone near 3,395.
This aligns with the top of the volume profile and a prior consolidation zone.
Resistance Area:
The 3,395 level is clearly marked as a target. This zone previously acted as a supply region and may cause price hesitation or rejection if reached.
✅ Conclusion:
Gold is currently setting up for a bullish continuation, provided the 3,300 support holds. A successful close above the cloud will confirm this structure. Target remains at 3,395, with intermediate resistance at the edge of the Kumo.
Strategy Note: Wait for a bullish confirmation candle above the cloud or on the retest before entering.
Let me know if you want this chart updated with new annotations or if you'd like a short version for social media.
Chart Overview:
Gold (XAU/USD) is showing signs of a potential bullish reversal based on price action, volume profile, and Ichimoku cloud behavior.
Key Observations:
Support Zone Respected (3,300 Region):
Price dipped into the high-volume demand zone near 3,300 and showed strong buying interest.
This level has acted as a base previously, and it's currently being defended again.
Ichimoku Cloud Analysis:
Price is currently below the Kumo cloud, indicating short-term bearish pressure.
However, the forecasted path suggests a potential breakout above the cloud, which would flip momentum bullish.
Flat Kijun-Sen indicates a magnet zone for price (potential retrace upwards).
Projected Move:
The white path on the chart outlines a bullish bounce from current levels, with a minor pullback followed by a push towards the resistance zone near 3,395.
This aligns with the top of the volume profile and a prior consolidation zone.
Resistance Area:
The 3,395 level is clearly marked as a target. This zone previously acted as a supply region and may cause price hesitation or rejection if reached.
✅ Conclusion:
Gold is currently setting up for a bullish continuation, provided the 3,300 support holds. A successful close above the cloud will confirm this structure. Target remains at 3,395, with intermediate resistance at the edge of the Kumo.
Strategy Note: Wait for a bullish confirmation candle above the cloud or on the retest before entering.
Let me know if you want this chart updated with new annotations or if you'd like a short version for social media.
Forex Market Analyst | XAU/USD Specialist
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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.
Forex Market Analyst | XAU/USD Specialist
. VIP Signal Channel for Premium Insights
. Comprehensive Forex Mentorship Program
. Affiliate Program for growth-driven partners
Join Our Telegram t.me/Goldsignalspro12
. VIP Signal Channel for Premium Insights
. Comprehensive Forex Mentorship Program
. Affiliate Program for growth-driven partners
Join Our Telegram t.me/Goldsignalspro12
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.