Gold (XAUUSD) on the 1H chart has broken out of a Falling Wedge, a bullish reversal pattern, signaling potential upside momentum. The breakout above wedge resistance aligns with support from the Ichimoku cloud, suggesting a shift in short-term sentiment.
🔸 Pattern: Falling Wedge → Bullish Breakout
🔸 Breakout Zone: Around $3,336
🔸 Target Price: $3,360
🔸 Support Zone: $3,324 – $3,317
🔸 Technical View: Price has regained cloud support with upward bias
🔸 Fundamental Angle: Ongoing market uncertainty and Fed rate expectations support gold as a safe-haven asset
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🔸 Pattern: Falling Wedge → Bullish Breakout
🔸 Breakout Zone: Around $3,336
🔸 Target Price: $3,360
🔸 Support Zone: $3,324 – $3,317
🔸 Technical View: Price has regained cloud support with upward bias
🔸 Fundamental Angle: Ongoing market uncertainty and Fed rate expectations support gold as a safe-haven asset
Note :If you found this helpful, like and follow for more trade ideas!
Share My Idea With Your Firends Mention Your Feed back Comment Section
This is not financial advice. Please conduct your own research and manage risk accordingly.
Trade active
Buy bias above breakout level with clear structure; risk managed below recent swing low.
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For More Help
Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.