XAU/USD: Bullish Climb to 4225?FX:XAUUSD is positioning for a bullish climb on the 1-hour chart , with price respecting an upward trendline as dynamic support, bouncing from a key support zone that could fuel an upside extension toward multiple resistance levels if buyers sustain momentum. This setup offers a strategic entry amid recent volatility, with potential for breakout if volume picks up.
Entry between 4075-4105 (entry possible at current levels with strict risk management). Targets at 4180 (first) and 4225 (second), yielding a risk-reward ratio greater than 1:3 overall .Set a stop loss on a close below 4063 to limit downside exposure. 🌟 Monitor for confirmation via a strong bullish candle above entry with increasing volume, leveraging gold's safe-haven status.
Fundamentally , today's US economic data, including MBA Mortgage Applications at 13:00 UTC and Fed's Waller speech at 16:00 UTC, could sway USD strength and thus gold prices—hawkish Fed tones might cap upside, while softer data supports bulls. Recent analysis notes gold slipping below $4140 on a double top, signaling short-term pullbacks but with rebound potential testing pivotal resistance. 💡
📝 Trade Setup:
🎯 Entry Zone: 4075 – 4105 (entry possible at current levels with strict risk management)
💰 Targets:
1️⃣ 4180 – initial resistance zone
2️⃣ 4225 – secondary target / take-profit zone
❌ Stop Loss: Close below 4063
📈 Risk-to-Reward: Greater than 1:3 overall, depending on execution and scale-out strategy
What's your take on this gold move? Comment below!💡
