Analysis of XAU/USD (Gold Spot)
The chart shows a clear uptrend channel, supported by higher highs and higher lows.
Price recently pulled back after testing the $3,915 zone, which is acting as a short-term resistance.
Multiple support zones are highlighted (around $3,760 and $3,700), which can provide strong buying opportunities on retracement.
The structure suggests impulse–correction–impulse movement, aligning with bullish continuation patterns.
Bullish Scenario
If price holds above the $3,760–$3,780 support, continuation towards $3,915 (previous high) is expected.
A breakout above $3,915–$3,920 will open the door for further upside, targeting $3,960–$3,980.
Bearish Scenario
If price breaks below the trendline support (~$3,760), deeper correction is possible toward $3,680–$3,640 (TP1 zone).
That zone is mentioned on the chart as a strong re-entry point for long positions.
✅ Suitable Target (Bullish):
Immediate Target: $3,915 (previous high)
Extended Target: $3,960 – $3,980
⚠️ Correction Target (Bearish Pullback):
$3,680 – $3,640 (strong buy zone for re-entry)
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High accuracy signals with double conformation
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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.
join my telegram channel free
t.me/Pips_and_profits1
t.me/Pips_and_profits1
Daily 300+pips profits
weekly 2000+pips profit
High accuracy signals with double conformation
t.me/Pips_and_profits1
t.me/Pips_and_profits1
Daily 300+pips profits
weekly 2000+pips profit
High accuracy signals with double conformation
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.