Long

XAUUSD Channel Up pull-back and then new High.

Gold (XAUUSD) has been trading within a short-term Channel Up on the 4H time-frame since the December 26 2024 High. It just formed a 4H Golden Cross, which gives the medium-term a stronger bullish potential but on the short-term, it is highly likely to see the Channel Up first pull-back on a new Bearish Leg to test the 4H MA50 (blue trend-line).

That will be the best buy opportunity (assuming the candles close within the Channel Up) and aim for a new Higher High near Resistance 1 at 2725.

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