technical analysis of XAUUSD (Gold Spot vs. US Dollar) on the 15-minute timeframe using support and resistance levels, with projected price movements annotated.
Key Levels:
Support Zone: Around 3350 USD (labeled as "Support 3350")
Resistance Zones:
Minor resistance: Around 3380.18 USD
Major resistance: Around 3390.77 USD
Target: 3390 USD, highlighted as the ultimate bullish goal.
Current Price:
Price at the time of analysis: ~3368.30 USD
Analysis Summary:
1. Support Retest Scenario:
Price may pull back to the 3350 support zone.
If this support holds, a bullish reversal is expected.
The anticipated move is a rebound back toward the resistance zone at 3380, and possibly to the target at 3390.
2. Immediate Bullish Continuation:
Alternatively, price could continue upwards from the current level without revisiting support.
Resistance around 3380 may act as a minor barrier.
If broken, the price could reach the target at 3390.
3. Bearish Risk:
If 3350 fails to hold as support, further downside may occur, invalidating the bullish setup.
Strategy Implication:
Buy positions could be considered on a successful retest and bounce at 3350.
Take-profits might be set near 3380 and 3390.
Traders should watch for price action confirmation at key levels before entering trades.
This is a classic support-resistance trading setup with short-term bullish bias aiming for a breakout toward higher resistance levels
Key Levels:
Support Zone: Around 3350 USD (labeled as "Support 3350")
Resistance Zones:
Minor resistance: Around 3380.18 USD
Major resistance: Around 3390.77 USD
Target: 3390 USD, highlighted as the ultimate bullish goal.
Current Price:
Price at the time of analysis: ~3368.30 USD
Analysis Summary:
1. Support Retest Scenario:
Price may pull back to the 3350 support zone.
If this support holds, a bullish reversal is expected.
The anticipated move is a rebound back toward the resistance zone at 3380, and possibly to the target at 3390.
2. Immediate Bullish Continuation:
Alternatively, price could continue upwards from the current level without revisiting support.
Resistance around 3380 may act as a minor barrier.
If broken, the price could reach the target at 3390.
3. Bearish Risk:
If 3350 fails to hold as support, further downside may occur, invalidating the bullish setup.
Strategy Implication:
Buy positions could be considered on a successful retest and bounce at 3350.
Take-profits might be set near 3380 and 3390.
Traders should watch for price action confirmation at key levels before entering trades.
This is a classic support-resistance trading setup with short-term bullish bias aiming for a breakout toward higher resistance levels
t.me/Forex_Gold_Signals117
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t.me/Forex_Gold_Signals117
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.
t.me/Forex_Gold_Signals117
Gold Free trades ❤️
kill gold every day with confirm signals ❤️
t.me/Forex_Gold_Signals117
Gold Free trades ❤️
kill gold every day with confirm signals ❤️
t.me/Forex_Gold_Signals117
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.