Gold (XAUUSD) Chart Analysis

**Gold (XAUUSD) Chart Analysis

**Price:** $3,053

**Bullish Scenario (Uptrend)**
- The price is currently testing a **resistance zone** near $3,056.
- If it **breaks above the resistance level**, we can expect a continuation towards **$3,060-$3,070**.
- A pullback to the **support zone** (around $3,050) followed by a bounce would confirm bullish momentum.
- **Confirmation of an uptrend:** The price stays above the EMA 7 and EMA 21, signaling strong buying pressure.

**Bearish Scenario (Downtrend)**
- If gold fails to break resistance and **drops below $3,050**, it may test the **strong support level at $3,040**.
- A further break below **$3,037 (EMA 50)** could lead to more selling pressure, potentially pushing gold towards **$3,030**.
- Increased selling volume and rejection at resistance could confirm a bearish move.

**Key Levels to Watch:**
- **Resistance:** $3,053 - $3,060 (Breakout needed for a strong rally)
- **Support:** $3,050 (First support level)
- **Strong Support:** $3,040 - $3,037 (Critical level for bulls to hold)

**Conclusion:** The market is at a key decision point. If resistance breaks, the bullish trend continues; otherwise, a pullback to support is likely. Traders should watch price action near these levels for confirmation before taking trades.https://www.tradingview.com/x/kqM4yPqB/

Trade active

✅ XAU/USD Update – Sell Target Hit!

As expected, after breaking the 3037 support, Gold dropped towards 3030, hitting the sell target. 🎯💰

📌 Action Plan:
✔ Close the trade and secure profits.
✔ Wait for the next setup (either a pullback for re-entry or confirmation for the next move).
✔ Monitor key levels: If 3030 breaks, next downside target is 3025-3020. If it holds, a bounce may follow.

Trade closed: target reached