Analysis:
The XAU/USD (Gold vs. USD) chart on the 45-minute timeframe shows price action forming a descending wedge pattern, a typically bullish reversal formation. The price has been compressing between lower highs and lower lows but is now testing the upper trendline resistance, indicating a possible breakout.
Key observations:
Trendline Breakout Zone: The narrowing wedge suggests weakening bearish momentum. A confirmed breakout above the trendline could trigger strong upward momentum.
Targets: The projected upside targets are around 4,300, 4,400, and 4,500, aligning with previous resistance zones.
Support Zone: Immediate support remains near 4,050–4,000, where the lower wedge boundary provides buying interest.
Momentum Indicator: Gradual bullish recovery and decreasing downside pressure indicate renewed buyer strength.
The XAU/USD (Gold vs. USD) chart on the 45-minute timeframe shows price action forming a descending wedge pattern, a typically bullish reversal formation. The price has been compressing between lower highs and lower lows but is now testing the upper trendline resistance, indicating a possible breakout.
Key observations:
Trendline Breakout Zone: The narrowing wedge suggests weakening bearish momentum. A confirmed breakout above the trendline could trigger strong upward momentum.
Targets: The projected upside targets are around 4,300, 4,400, and 4,500, aligning with previous resistance zones.
Support Zone: Immediate support remains near 4,050–4,000, where the lower wedge boundary provides buying interest.
Momentum Indicator: Gradual bullish recovery and decreasing downside pressure indicate renewed buyer strength.
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Join My telegram channel Free:
t.me/tradewithmrdavid
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
t.me/tradewithmrdavid
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.