XAU/USD (Gold) is trading around $3,308.60 and is showing a clear bullish trend on the 1-hour timeframe. Both the 20 EMA and 50 EMA are trending below the current price, confirming short-term bullish momentum. The nearest support zone is between $3,270 and $3,286, a level that has previously attracted buyers. On the upside, the resistance zone lies between $3,330 and $3,347, where price may face selling pressure.
Traders could look for long opportunities on pullbacks to the support area, with targets set near the resistance range, and a recommended stop-loss around $3,250 to manage downside risk. Overall, the 1H chart reflects sustained bullish momentum, favoring buy setups on retracements.
Most Watchable areas:
$3,270 and $3,286 for downward movement
$3,330 and $3,347 for upward movement
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Traders could look for long opportunities on pullbacks to the support area, with targets set near the resistance range, and a recommended stop-loss around $3,250 to manage downside risk. Overall, the 1H chart reflects sustained bullish momentum, favoring buy setups on retracements.
Most Watchable areas:
$3,270 and $3,286 for downward movement
$3,330 and $3,347 for upward movement
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Trade closed: target reached
Our target has been hit just as I highlighted in the chart.
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.