Potential Breakout Above Key Resistance Level
Gold (XAU/USD) is currently trading within a well-defined range, with key support at $2,663 and resistance near $2,698. The pair has shown strong bullish momentum, supported by moving averages crossing upwards and RSI staying above 50, indicating potential further upside.
On the daily chart, we observe a consolidation pattern forming a possible ascending triangle. This setup suggests a breakout could occur above the $2,698 resistance zone, targeting $2,800 as the next significant level. The MACD histogram also shows increasing bullish divergence, adding strength to the upward bias.
However, a rejection at resistance could push XAU/USD back to the $2,665 support zone. If this level fails, further declines toward $2,580 may follow.
Key Levels to Watch:
Resistance: $2,798, $2,700
Support: $2,663, $2,670
Potential Trading Strategy:
Long position: Enter above $2,663_65 with a target of $2,700 and a stop loss below $2,655.
Stay alert for high-impact news that could influence the market, such as U.S. economic data releases or Federal Reserve comments, which often affect gold prices
On the daily chart, we observe a consolidation pattern forming a possible ascending triangle. This setup suggests a breakout could occur above the $2,698 resistance zone, targeting $2,800 as the next significant level. The MACD histogram also shows increasing bullish divergence, adding strength to the upward bias.
However, a rejection at resistance could push XAU/USD back to the $2,665 support zone. If this level fails, further declines toward $2,580 may follow.
Key Levels to Watch:
Resistance: $2,798, $2,700
Support: $2,663, $2,670
Potential Trading Strategy:
Long position: Enter above $2,663_65 with a target of $2,700 and a stop loss below $2,655.
Stay alert for high-impact news that could influence the market, such as U.S. economic data releases or Federal Reserve comments, which often affect gold prices
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✅ Trading Ideas, Setups, and Technical Insights and some minds
Catch these signals for FREE on Telegram:t.me/trextro_fx
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✅ Gold Scalping Signals (5-6 signals)
✅ Trading Ideas, Setups, and Technical Insights and some minds
Catch these signals for FREE on Telegram:t.me/trextro_fx
✅ Trading Ideas, Setups, and Technical Insights and some minds
Catch these signals for FREE on Telegram:t.me/trextro_fx
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.