XAUUSD Bull or Bear?

Gold (XAU/USD) Analysis – Current Market Outlook

Based on the latest charts, XAU/USD has made a minor pullback after breaking above the 3005 level, but the overall structure remains bullish.

Key Observations:

1. H1 and H4:

The price continues to form higher highs and higher lows.

EMA 5 and EMA 21 support the uptrend.

RSI remains above 60, confirming bullish momentum.



2. M30 and M15:

The pullback on these timeframes appears to be a simple retest of a recently formed support level.

If the price holds the 3010-3008 zone, it could be a good area for a new long entry.



3. M5:

The price tested the 3015 level and is now trying to hold the 3010-3011 area.

If this zone fails, the next major support is around 3005.




Trading Plan:

✅ For a Long Position:

Wait for consolidation or a clear rejection at 3010-3008.

Entry confirmation: a higher low forming on M5/M15.

TP1: 3020

TP2: 3030

SL: Below 3005


❌ For a Short Position:

Only consider a short if there is a clear rejection from 3015-3020 and a lower high formation on M15/M30.

Entry confirmation: a bearish close on H1.

TP1: 3005

TP2: 2994

SL: Above 3025


Currently, the bullish trend seems more likely to continue, but we need to observe how the price reacts at the mentioned support zones.