XAUUSD Holding Trend Support - Bullish Continuation Possible

Mar 8

Hello traders! Here’s my technical outlook based on the current XAUUSD (2H) chart structure. Price previously developed a steady bullish move after rebounding from a lower support region, gradually forming higher highs and higher lows while respecting a well-defined ascending trend line. This upward movement reflected increasing buying pressure and the establishment of a constructive bullish structure. During this phase, the market also broke above a prior resistance line, confirming a shift in momentum and opening the door for further upside continuation. Following this breakout, price advanced toward a major Seller Zone near 5,250, where the market encountered strong supply pressure. This area acted as a key resistance level and caused the market to transition into a horizontal range consolidation. Inside this range, price moved sideways between the upper resistance zone and the Buyer Zone around 5,070, reflecting temporary equilibrium between buyers and sellers. Multiple reactions from both boundaries confirmed the importance of these levels and showed that the market was building liquidity before the next directional move. Currently, price is stabilizing near the Buyer Zone and the ascending trend support, creating a confluence area where buyers are attempting to regain control. At the same time, the market is trading below the descending resistance line, which continues to cap bullish momentum and forms a compression structure between dynamic resistance and rising support. My primary scenario remains bullish-to-neutral as long as price holds above the 5,070 support level and respects the rising trend line. A confirmed bounce from this demand area could drive price back toward the 5,250 resistance zone, which aligns with the previous seller zone and represents the next key target (TP1) for buyers. However, if price fails to maintain support and breaks decisively below the buyer zone and trend line, the bullish structure would weaken and could lead to a deeper corrective decline toward lower support levels. For now, the market is approaching an important decision point where the reaction from support will likely determine the next directional move. Please share this idea with your friends and click Boost 🚀

Mar 9

Trade active

Today we can see that the price of gold has fallen as we expected to the main support zone and trend line, where buyers have already stepped in. Now I expect a rise to our target.

Mar 10

Note

We see that buyers are picking up the pace very well and the triangle has broken through to the top. I hope that we will reach our target.

Mar 11

Trade closed: target reached

Today we see that we have reached the sellers' zone, which is already a success. And we see that having reached this zone, the sellers intervened quite strongly, that is, this is a fairly strong level of resistance.