XAUUSD (Gold)* shows a clear bullish trend setup with potential upside targeting *3,000*. Here's the analysis based on the chart:
- *Strong Bullish Momentum*: The price is showing a clear *breakout* above previous resistance levels, confirming the bullish momentum. The price has recently broken key structural points (BOS - Break of Structure), indicating the possibility of further upside movement.
- *Key Support and Resistance*:
- *Support Zone*: Around *2,890*, with a major level of support found around *2,880*. These zones are critical for traders looking to enter at favorable prices.
- *Resistance Zone*: The *3,000* mark is highlighted as a *strong target*. This area has historically acted as resistance, and breaking through this could push Gold even higher.
- *Price Action & Breakout*: After a *Change of Character (Choch)*, where the price structure shifted from bearish to bullish, a breakout from *2,900* is expected to lead the price towards the *3,000* target. This breakout is vital, as it suggests that a new upward trend is in place.
- *Strong Bullish Momentum*: The price is showing a clear *breakout* above previous resistance levels, confirming the bullish momentum. The price has recently broken key structural points (BOS - Break of Structure), indicating the possibility of further upside movement.
- *Key Support and Resistance*:
- *Support Zone*: Around *2,890*, with a major level of support found around *2,880*. These zones are critical for traders looking to enter at favorable prices.
- *Resistance Zone*: The *3,000* mark is highlighted as a *strong target*. This area has historically acted as resistance, and breaking through this could push Gold even higher.
- *Price Action & Breakout*: After a *Change of Character (Choch)*, where the price structure shifted from bearish to bullish, a breakout from *2,900* is expected to lead the price towards the *3,000* target. This breakout is vital, as it suggests that a new upward trend is in place.
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