XAUUSD remains stable at high levels, focus on what comes nextHey everyone, Erik here.
XAUUSD has been showing strong momentum lately. After a sharp decline, the market quickly recovered, rebounding powerfully from the lower boundary of the newly projected channel. What initially appeared as weakness was actually a calculated shakeout, trapping sellers before reversing upward with confidence.
This behavior is typical of strong bullish trends. It clears out weak positions, triggers stop losses, and restores balance before the next upward movement. At this stage, the market appears to be entering the early phase of a new bullish impulse.
There might be a short consolidation or a slight correction, but the momentum is clearly pointing toward the upper boundary of the channel. For XAUUSD, the bullish continuation scenario seems far more convincing.
My target is around 4,585, near the upper resistance zone of the projected channel. The overall market structure remains decisively bullish, and the emotional surge during the last drop may become the fuel that powers the next strong rally.
