XAU/USD) – Bullish Channel Continuation with Key Support at $3,9

The price is moving within an ascending parallel channel, showing an overall bullish trend.

Currently, gold is trading near $3,996, close to the 70 EMA ($3,991).

A support zone is marked around $3,919–$3,950, which has held price action several times.

🔹 Key Levels

Support zone: $3,919 – $3,950

Immediate resistance: Around $4,000 (psychological level + EMA area)

Target point: $4,065

Loss point (Stop-loss): Below $3,919

🔸 Technical Outlook

Trend Direction:
The upward channel and higher highs indicate continuation of the bullish trend unless price closes below $3,919.

Short-term Movement Expectation:

Price might retest the support zone ($3,950–$3,920).

If support holds, an upward bounce toward $4,065 is likely.

If it breaks below $3,919 with volume, price may fall toward $3,870–$3,850 (lower channel line).

EMA Behavior:
The 70 EMA is currently acting as dynamic support; staying above it keeps the bullish momentum intact.

🎯 Trading Plan Suggestion (Technical Only)

Buy zone: $3,940–$3,960

Take profit: $4,060–$4,070

Stop loss: Below $3,915