XAUUSD is currently trading within an ascending channel, reflecting a clear bullish structure.Price may return to the lower boundary of the channel before potentially continuing higher. This dynamic support provides a confluence zone for a possible bullish reaction. A successful retest here could pave the way for a move toward the $3,500 level, aligning with the midline of the channel and representing a reasonable bullish target.
However, failure to hold this dynamic support could indicate that bullish momentum is weakening and may shift the short-term trend to neutral or bearish.
Traders should monitor confirmation signals such as bullish engulfing patterns, strong rejection wicks at the lower trendline, or increased volume on the rebound before considering long positions.
Let me know your thoughts or if you see it differently! 🚀
Trade active
90% accuracy in Telegram
🔻FREE Telegram channel🔻
t.me/+yp68zvUZLqExZmVl
🔻FREE Telegram channel🔻
t.me/+yp68zvUZLqExZmVl
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.
90% accuracy in Telegram
🔻FREE Telegram channel🔻
t.me/+yp68zvUZLqExZmVl
🔻FREE Telegram channel🔻
t.me/+yp68zvUZLqExZmVl
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.