ِDear Traders,
On the 1-hour chart of XAUUSD (Gold vs. USD), we observe a breakout of the descending trendline, followed by a successful pullback and continuation to the upside.
The blue demand zone around 3295–3310 acted as a strong support and triggered a bullish move.
As long as the price holds above this support, we expect the uptrend to continue, targeting the resistance areas between 3360–3375 and potentially up to 3390–3400.
The RSI has pulled back from the overbought zone but is still holding above the 50 level, supporting the bullish sentiment.
📌 Conclusion:
If the price holds above the support zone, further upside towards the resistance zones is likely. If the support fails, the bullish scenario may be invalidated for now.
Regards,
Alireza!
On the 1-hour chart of XAUUSD (Gold vs. USD), we observe a breakout of the descending trendline, followed by a successful pullback and continuation to the upside.
The blue demand zone around 3295–3310 acted as a strong support and triggered a bullish move.
As long as the price holds above this support, we expect the uptrend to continue, targeting the resistance areas between 3360–3375 and potentially up to 3390–3400.
The RSI has pulled back from the overbought zone but is still holding above the 50 level, supporting the bullish sentiment.
📌 Conclusion:
If the price holds above the support zone, further upside towards the resistance zones is likely. If the support fails, the bullish scenario may be invalidated for now.
Regards,
Alireza!
💰MY FREE FOREX CRYPTO SIGNALS TELEGRAM CHANNEL: : t.me/Alirezaktrade
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.
💰MY FREE FOREX CRYPTO SIGNALS TELEGRAM CHANNEL: : t.me/Alirezaktrade
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.