XAU/USD Bullish Reversal Setup Towards 3,453 Target Ask

Price at analysis: ~3,349.75 USD.

Moving Averages:

50 EMA (red): ~3,327.32

200 EMA (blue): ~3,322.84

Key Support Zone: Marked in grey around the 3,320–3,330 area.

Target Point: 3,453.240 USD.

🔍 Key Observations
✅ Support Confirmation:
Price bounced strongly from the marked support zone, indicating that buyers stepped in decisively.

✅ Golden Cross Setup:
Price is moving above both EMAs again. If the 50 EMA crosses above the 200 EMA, it could confirm a medium-term bullish bias.

✅ RSI:
The RSI is around 62.92, approaching overbought but still with room for upside, suggesting the momentum is currently bullish.

✅ Projected Move:
The chart projects a bullish continuation toward 3,453.240, implying a rounded bottom reversal or cup formation.

⚡️ Bullish Scenario
Price holds above 3,327–3,322 (support).

Continues to consolidate above EMAs.

Buyers push through minor resistances on the way to the target.

⚠️ Risk Zone
If price falls back below 3,320, the bullish outlook weakens.

Watch for fakeouts near EMAs.

Summary:
The chart implies a bullish reversal setup with a projected target of 3,453 USD. Traders might look for retests near the support or EMAs for entries, while keeping an eye on momentum and the RSI for signs of exhaustion.