TRENDS

Instrument: The chart appears to be tracking XAU/USD (Gold), as indicated on the right-hand side.
• Trend: The price is moving upwards within a parallel channel, showing a consistent uptrend.
• Fibonacci Retracement & Extensions:
• Various Fibonacci levels are marked, which act as potential support and resistance zones.
• The 0.786 Fibonacci level is a key retracement area currently being tested.
• Projected Move:
• A green highlighted area indicates a potential bullish move, suggesting an anticipated breakout toward higher levels.
• The 1.618 Fibonacci extension level aligns with the target.
• Support & Resistance:
• Several horizontal lines indicate previous highs and lows, likely acting as key decision points.
• The price recently retested the lower boundary of the channel and bounced back, reinforcing the trend.