XAU/USD: Bullish Momentum Holds with Breakout Potential

XAU/USD closed its third straight bullish week, with price testing Tuesday’s low before rebounding and closing near the 50% mark of the weekly range. Despite a brief dip, the candle closed above last week’s high, showing continued strength. A breakout above the 3,000 level raises the potential for further gains, especially if the market opens with a gap up.

On the daily timeframe, Friday's candle recovered after early weakness, resembling a previous pullback seen earlier this month. With a 1.90% retracement, the structure suggests possible upward continuation. The market is currently moving sideways within Friday’s range, hovering around the 3,030 key level.

While high-impact news could cause volatility, any pullback toward the 3,000 support zone—aligned with the trendline and previous week’s high—may offer buying opportunities. A breakout from the inside bar pattern forming on the daily chart could target the 3075 resistance zone