XAUUSD Bullish

As I expected in my previous analyses of XAUUSD, price could not break the daily support at 1695 and started an upside reversal move.

Currently, in 4H time frame, we can see the previous 4H candle is a strong bullish candle, and the current 4H candle has been opened above the previous candle.

Moreover, if we take a look at the price structure, we can see the higher highs and higher lows formation which indicates price has started a bullish trend.

There is a resistance zone around (1726.50 - 1728.40) and price is approaching to it.

For now, we need to wait for price to see if it can break this area sharply or not.

If price broke the red resistance level at 1728.40 and closed a bullish candle above this level, I expect a rise first to 1739 and then to 1752 in the future.

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